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Cyber Monday 2012 – The Future of Consumerism

11/29/2012

Last Friday we predicted Cyber Monday would be a record-breaking day for eCommerce. Our post, “Cyber Monday Will Set All-Time Records” simply said the day will blow away previous years. We were right.

IBM’s Smarter Commerce initiative tracked data of 500 online retailers and, according to the firm’s data, Internet sales rose 30% from 2011. Impressive.

Especially considering that Cyber Monday is really no longer a special day. Cyber Monday got its start a decade ago when consumers after a long Thanksgiving weekend went back to work accessing high-speed internet and placing orders from work.

Today consumers carry more computing power in their pockets than the clunky boxes on their work stations of a decade ago and are miffed by the slightest interruption to internet access.

How has Cyber Monday been forever changed?

Compared to last year, mobile sales rose 70%. Thirteen percent of the total sales this Monday were made from smartphones and tablets devices.

Here are the indicators of the shopping shift we’re seeing now.

Mobile Shopping: Mobile purchases soared consumers using a mobile device to visit a retailer’s site, up from 14.3 percent in 2011. Mobile sales exceeded 16 percent, up from 9.8% in 2011.

The iPad Factor: The iPad generated more traffic than any other tablet or smart phone, reaching nearly 10 percent of online shopping. This was followed by iPhone at 8.7% and Android 5.5%. The iPad dominated tablet traffic at 88.3% followed by the Barnes and Noble Nook at 3.1%, Amazon Kindle at 2.4% and the Samsung Galaxy at 1.8%.

Multiscreen Shopping: Consumers shopped in store, online and on mobile devices simultaneously to get the best bargains. Overall 58% of consumers used smartphones compared to 41% who used tablets to surf for bargains on Black Friday.

The Savvy shopper: While consumers spent more overall, they shopped with greater frequency to take advantage of retailer deals and free shipping. This led to a drop in average order value by 4.7% to $181.22. In addition, the average number of items per order decreased 12% to 5.6.

Social Media Sentiment Index: Shoppers expressed positive consumer sentiment on promotions, shipping and convenience as well as the retailers themselves at a three to one ratio.

Social Sales: Shoppers referred from Social Networks such as Facebook, Twitter, LinkedIn and YouTube generated .34% of all online sales on Black Friday, a decrease of more than 35% from 2011.

At Thought-Tech we are working with forward thinking brands across a range of sectors to stay ahead of the consumer – or in some cases just to keep up with consumer behavior changes. If your business is in need of a mobile makeover…give us a shout. We can get you up to speed in two weeks.

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