Since its beginning in 2005, Cyber Monday has grown to become the most profitable day of the year for many online retailers. This year is particularly special, because it marks the largest online shopping day in US history, according to CNBC.
By The Numbers
All of the following statistics have been reported by Adobe Insights, regarding Cyber Monday of 2017.
- $6.59 billion in transactions
- 16.8% increase year-over-year
Cyber Monday officially surpassed Black Friday this year, which only generated $5.03 billion in transactions. It is clear that purchasing decisions are changing.
A New Generation
A lot of this change in behavior has to do with changes in the consumer base. The millennial market is currently the largest living generation, and they are having a major impact on the world of products surrounding them.
Mickey Mericle, vice president of Marketing and Customer Insights at Adobe, noted, “Consumers are also becoming more savvy and efficient online shoppers. People increasingly know where to find the best deals and what they want to purchase, which results in less price matching behavior typically done on desktops. Millennials were likely another reason for the dramatic growth in mobile, with 75 percent expecting to shop via their smartphone.”
The Age Of Mobile
Adobe Insights also reported that 33.1% of revenue on Cyber Monday was brought in via mobile devices. The Onimod Global Content Team is always producing new material on this subject. A few of our favorite articles that discuss the many benefits of mobile shopping and advertising are:
These three blog postings highlight some of the key reasons that explain why mobile is such an important asset to any business. Visit our blog to learn more by clicking HERE!
Small Businesses Conquer
It is also important to point out that small businesses were significantly better at utilizing mobile marketing strategies than large corporations. Adobe reported that these small businesses doubled the amount of conversions generated by big businesses.