Cyber Monday Sales Boom – A Statistical Look at Online Shopping Trends

The Cyber Monday sales boom is a true phenomenon today. Following theBlack Friday weekend, Cyber Monday forms the backbone of Cyber Week, arguably the biggest shopping event of the year, which also marks the start of Christmas shopping for many people.

If you work in sales, marketing, or fulfillment anywhere in the world, Cyber Week is likely a crazy period for you, especially given the rise of ecommerce. Indeed, online sales during the week have skyrocketed in recent years, even surpassing offline retail sales.

If you're new to Cyber Week, where do you even begin? What kind of things do people buy the most, and which demographics should you focus your efforts on?

These questions come up every year. For that reason, we've put together this guide to the Cyber Monday sales boom, which answers them, as well as many more. Let's dive in.

Top Cyber Monday 2023 Trends

We'll start off by exploring both Cyber Week trends and Cyber Monday trends, specifically.

High Participation

Overall, 86% of consumers will be participating in Cyber Week 2023, according to Impact's research. At least 79% of these shoppers will be doing some of their shopping online, with the majority engaging in mobile commerce.

Regarding Cyber Monday specifically, a DriveResearch report tells us that the percentage of consumers who will be participating in 2023 is 66% - 2% up from 2022 and 21% up from 2021.

Spending

Consumers say they plan to spend a similar amount in 2023 as in 2022 during Cyber Week, or less, due to ongoing cost of living challenges worldwide.

A small share of consumers (10%) will be spending over $1,000, but most consumers won't be going beyond $600. On Cyber Monday itself, 22% of consumers will be spendingbetween $400 and $599.

Discounts

As in years before, discounts and promotions will be the main drivers behind Cyber Week and Cyber Monday shopping.

As many consumers use the occasion to do their holiday shopping or to stock up on essentials, retailers must show the value of their promotions. Some 81% of Cyber Monday shoppers aredriven by discounts, and 80% by free shipping.

Cyber Monday Statistics & Trends by Region

Now, let's look at the key statistics and trends for Cyber Monday around the world.

USA

Source: Statista

With the US being the birthplace of Cyber Week and Black Friday, it's naturally a leader in these events. In 2022, more than 8 out of 10 American retailers engaged in Cyber Monday marketing campaigns.

These high statistics are no surprise - almost 14% of all retail shopping in 2019 occurred during Cyber Week. In 2022, that figure grew to 15.6%.

On average, the buying activity of American consumers is512% higher on Cyber Monday than on days of the year that aren't in Cyber Week. To compare, that percentage exceeds 1,000 on Black Friday.

Some 31% of US consumers plan to do holiday shopping on Cyber Monday in 2023 - up 1% from 2022 and 4% from 2021. The figure for Black Friday 2023 is at a similar level.

Although many US consumers shop online during Cyber Week, others still venture to brick-and-mortar stores. According to Statista, people from the American South were most likely to shop in-store on Cyber Monday (70.3%), followed by the US West (69.7%).

UK & Europe

Source: Statista

A lot of people in Europe have heard of Black Friday. However, the level of awareness for Cyber Monday is less than 100%. For instance, almost 9 out of 10 people in the UK and 8 out of 10 people in Germany have heard of it, but in Belgium, the figure is only 64%, and in Denmark,69%.

Nevertheless, many people in Europe do take advantage of Cyber Monday sales. For example, in Poland,11% of consumers shopped in the sales on the day in 2022. The figure was higher in previous years, however. In Germany, 66% of consumers are keen to shop on Black Friday and Cyber Monday.

In the UK,over 50% of consumers say they have been saving up money in the months before the Black Friday and Cyber Monday sales. More consumers also seem to be driven toward offline retail than previously - for33% of Brits, offline retailers are a great way to find new products.

Other Countries

Source: Statista

Cyber Monday is a recognized phenomenon outside the US and Europe, as well. For example, Brazilian online retailers generated over R$700 million ($151 million)in sales on 2022's Cyber Monday and almost R$830 million ($170 million) in 2021.

In Australia, where Black Friday and Cyber Monday were first adopted in 2013, the two shopping occasions saw total sales of AUD$7 billion ($4.5 billion)in 2022.

Cyber Monday Spending & Revenue Statistics

Like this infographic? Feel free to use it on your website or blog, but please remember to give us credit by linking back totechreport.com/statistics/cyber-monday-sales-boomin your post.

So, how much do consumers actually spend on Cyber Monday, and with which retailers? Let's find out.

Cyber Monday Revenue

In 2022, Cyber Monday sales in the US brought in $11.3 billion in total. That's5.8% higher than the year before and is the highest recorded Cyber Monday sales figure to date.

The $11.3 billion spent on Cyber Monday makes up just under a third of all Cyber Week spending in 2022. Overall, Cyber Monday revenue made up 5.34% of 2022 holiday shopping.

In 2023, Cyber Monday sales are expected to surpass $13.5 billion.

Cyber Monday Winners

Like this infographic? Feel free to use it on your website or blog, but please remember to give us credit by linking back totechreport.com/statistics/cyber-monday-sales-boomin your post.

Unsurprisingly, Amazonhas been the lead Cyber Monday retailer for the last two years, with a 23% share in 2022.

Other 2022 Cyber Monday winners were Walmart (21%) and Target (10%). The rankings were similar in 2021.

Cyber Monday Shopping by Demographics

Consumers have wide-ranging preferences. However, marketers know that there are certain patterns among consumers that become apparent on special retail occasions, and Cyber Monday is no exception to this. Let's take a look at how different people shop on the biggest sales Monday of the year.

Generational Cyber Monday Shopping

Like this infographic? Feel free to use it on your website or blog, but please remember to give us credit by linking back totechreport.com/statistics/cyber-monday-sales-boomin your post.

According to Impact, consumers across generations will predominantly be shopping online during Cyber Week and Cyber Monday 2023.

That was mostly the case in 2022 as well, although Gen X buyers were more likely to shop in-store that year. In 2023, 12% of Gen Z-ers are willing to shop in stores, but just 4% of Baby Boomers will do the same.

Gender

Source: Statista

According to a study by Kansas University, both women and men are equally likely to shop online on Cyber Monday. However, the study reports that men are more likely to shop on Cyber Monday than on Black Friday due to the convenience, while women are likely to prefer to shop on Black Friday.

In terms of product choices, men tend to show a preference for electronic goods, while more women shop for fashion and apparel. As for gender and age, women in their mid-to-late twenties tend to shop more for makeup and cosmetics, while millennial men (30-45) prefer toys and games.

How Do People Shop on Cyber Monday?

The rise of ecommerce has been a revolution in the retail world - something that's even more obvious during events like Cyber Week. People still shop in-store, though, and even online shopping habits are altered by events like these. Let's look at Cyber Monday shopping in more detail.

Online vs. Offline

Source: NRF

The National Retail Federation tells us that in 2022, the vast majority of Cyber Monday shoppers (77 million) shopped online, compared to 22.6 million consumers who shopped in stores.

A record number of those online shoppers (59%) used a mobile phone for their purchases - 8% more than the year before - highlighting the significant need for retailers to invest in mobile optimization.

In 2023, we're expecting to see the same trend for the majority of consumers to shop on mobile during Cyber Week and on Cyber Monday.

We'll now take a brief look at the differences between the various types of shopping on Cyber Monday.

Desktop vs. Mobile

Like this infographic? Feel free to use it on your website or blog, but please remember to give us credit by linking back totechreport.com/statistics/cyber-monday-sales-boomin your post.

Retailers' conversion rates on Desktop were actually higher than on mobile devices on Cyber Monday in 2022 - at 6.9% vs. 3.6%. Although more people shopped on mobile devices on Cyber Monday 2022, more goods were purchased on average via desktop websites than on mobile apps.

Most Popular Cyber Monday Sales & Items

Source: Nielsen

As on Black Friday 2022, electronics were some of the most popular purchased items, according to Nielsen. In fact, electronics sales were almost 400% upfrom the 2021 Cyber Monday. Given that the discounts peaked at 25% off the listed price, that's hardly surprising.

Toys were another popular category, with almost a third of consumers buying them. According to Adobe, sales of toys grew by a whopping684% in 2022compared to regular shopping periods.

Discounts on toys were even bigger than on electronics, withalmost 35% off, compared to 19% the year before. The most popular toys were Lego, Encanto-themed items, and Pokemon Cards.

Over 40% of consumers worldwide bought clothing and accessories on Cyber Monday 2022. The peak discounts were18%, up 5% from Cyber Monday 2021.

Future Cyber Monday Trends

Source: DriveResearch

Cyber Week isn't going anywhere any time soon, and Cyber Monday is a big part of it. We're very interested to see what the future holds for Cyber Monday. Here are some of our predictions for 2024 and beyond.

Extended Sales

A lot of people take time off for Thanksgiving that stretches beyond the weekend, and chances are, they'd like to continue enjoying Cyber Week discounts. We already have many retailers offering early Black Friday sales, and the event itself has stretched into a week.

We, therefore, see no reason why the same thing can't happen with Cyber Monday, giving people more time for their holiday shopping. Extending Cyber Monday can also help relieve the pressure to buy everything in a day.

Mobile Commerce

Online shopping statistics show that many people are shopping on mobile phones more and more. To keep up with the move toward mobile commerce, retailers have to invest in optimizing their websites for mobile.

When it comes to Cyber Week and Cyber Monday, that's particularly acute. Though some people might be off work that Monday, a lot of consumers will want to access Cyber Monday sales remotely via their own devices. To tap into this Cyber Monday market segment, consumers should ensure mobile optimization.

Omnichannel Experience

Since both online and offline Cyber Monday shopping have been increasingly popular in the last couple of years, it's important to consider how retailers can reach more audiences on each channel. Omnichannel experience is key to that.

With a successful omnichannel strategy, consumers should be able to browse products, buy them, and even return them through a variety of channels, such as websites, mobile apps, in-store, and on social media.

The aim of omnichannel experience delivery is to offer a consistent, customer-friendly experience across each touchpoint - online and offline - allowing customers to transition effortlessly between the two worlds.

Personalization

With omnichannel experience, retailers can better personalize their Cyber Monday offerings, especially when AI comes into play.

With retailers being armed with customer data, they can provide highly personalized recommendations and offers. This sort of personalization will lead to higher levels of customer loyalty and retention.

Final Thoughts

Cyber Monday might be seen as a follow-up to Black Friday, but it's an integral part of Cyber Week - the biggest sales event of the year. Over the last few years, we've seen consumers are just as likely to make use of Cyber Monday as Black Friday, if not even more so in some cases.

As with Black Friday, planning a Cyber Monday campaign is no easy feat, especially if you want to take advantage of omnichannel shopping. Nevertheless, it's vital for retailers to prepare in advance for Cyber Week, and specifically for Cyber Monday.

References:

• Record 196.7 Million Consumers Shop Over Thanksgiving Holiday Weekend (NRF)
• 2023 Cyber Week Consumer Report (Drive Research)
• 2023 Black Friday Shopper Report (Drive Research)
• Adobe: Cyber Monday Drove $11.3 Billion in Online Spending, Breaking E-Commerce Record (Adobe)
• Black Friday and Cyber Monday 2022 by the numbers (NielsenIQ)
• Have you heard of Black Friday and Cyber Monday? (Statista)
• Cyber Monday 2023 USA (Cyber Monday)
• 2023 Black Friday & Cyber Monday Trends (Akeneo)
• Cyber Week research 2023: the biggest consumer behavior trends for this shopping season (Impact.com)
• Sales Report 2022: Thanksgiving, Black Friday, Cyber Monday (PracticalEcommerce)
• Planned promotional activities among U.S. retailers during Black Friday and Cyber Monday in 2022 (Statista)
• The 2023 holiday shopping forecast is here. (Adobe Experience Cloud)
• Cyber Monday was the biggest online shopping day ever (Insider Intelligence)
• Amazon Wins Black Friday For 2nd Consecutive Year, Numerator Reports (Numerator)
• Salesforce Reveals Record-Breaking Cyber Week: $281 Billion in Global Online Sales (Salesforce)
• Thanksgiving weekend shopping in the U.S. (Statista)
• Consumers who plan to shop on Black Friday and Cyber Monday in the United States as of September 2023, by region (Statista)
• Consumers planning to shop during Thanksgiving week in the United States from 2020 to 2023, by shopping event day (Statista)
• Sales revenue generated by online shopping on Cyber Monday in Brazil from 2019 to 2022 (Statista)
• Share of people taking advantage of Cyber Monday promotions in Poland between 2019 and 2022 (Statista)
• Digital Validation of Customer Data Powers Black Friday Sales (Experian)
• Deep discounts drive Cyber Monday web sales to a record $11.3 billion (Digital Commerce 360)
• 52 Cyber Monday Statistics 2023 (Discount, Sales & More) (Demandsage)
• Black Friday and Cyber Monday: understanding consumer intentions on two major shopping days (CORE)
• Average planned spend for Black Friday/Cyber Monday sales in Great Britain 2023, by gender (Statista)
• Inside the Consumer's Mind: Black Friday and Cyber Monday (DCMN)
• UK Shoppers To Spend Big On Black Friday And Cyber Monday (Business4Beginners)
• 67 Remarkable Cyber Monday Statistics: 2023 Shopping Data & Consumer Behavior (FinancesOnline)
• Amazon touts record sales over holiday shopping weekend (CNBC)
• 2022 Retail Ranking: Black Friday and Cyber Monday (Earnest Analytics)

The post Cyber Monday Sales Boom - A Statistical Look at Online Shopping Trends appeared first on The Tech Report.