Cyber Monday sales continue to rise every year, and according to Adobe analytics Cyber Monday sales hit a record $7.9 billion this year (2018) - this is almost a 20% increase from last year.
Cyber Monday Surpassed Black Friday sales
Of course, shopping online is more convenient, but that doesn't tell the full story. Many major retailers realized that online sales are the future of all sales. Brick and mortar stores have their place, but online sales will drive all future growth; hence why so many corporations are investing in their website and e-commerce platforms. The more investment that's made in these platforms, the easier and cheaper it will be for customers to purchase online.
Also, online sales will only accelerate with Generation Z, because this is the generation of consumers that grew up with a smartphone, and have never experienced the pre-internet world. They do everything online!
Finally, if we take into account that technology is getting cheaper every day, there is no doubt that online sales (e.g. Cyber Monday) will continue to crush all brick and mortar sales (e.g. Black Friday).
How To Capitalize On This Trend?
Having a website is no longer enough, so let's get that out of the way. Maybe that was enough during internet's infancy (the 90s), but everyone has a website these days, so having a website is like having a store sign; everyone has one, so what is unique about your sign (i.e. website)?
That's the bad news. The good news is that most small-to-medium size businesses are still undervaluing the importance of online sales, so with the right strategy and investment, you can leapfrog your competition.
For example, the user experience is still below par on most websites and e-commerce platforms. Making the process of purchasing a product or service difficult and time-consuming. Remember, if you are selling online you are competing against websites like Amazon.com, so while Amazon is offering one-click buying, you are asking your customer to go through 5 pages to purchase a product. Easy of use is extremely important.
Also, most e-commerce platforms we come across don't utilize personalization. If your customer was looking for a specific product on Monday and then they came back to your website on Tuesday, you must serve them a different experience then if they came to your website for the first time. Website personalization technology is inexpensive and in reach of all small businesses.
Additionally, your online purchasing experience has to be seamless on mobile devices and more specifically smartphones. Smartphones accounted for 27.7 percent of all Cyber Monday sales, equating to $2.2 out of $7.9 billion spent.
More and more buyers are using smartphones to purchase online, so if you have any chance of competing in this online world, your website has to be seamless on mobile devices. Unfortunately, this message has yet to resonate with most businesses. There are still too many non-responsive websites, a clear indication that many businesses still don't take their mobile users/customers seriously.
Related: Benefits of Responsive Design
One-click buying, personalization, and responsive design are just some examples of how to make your website/e-commerce platform better. Optimization tactics are plentiful, you just need to be proactive and take advantage of them.
There are 11 months until the next Cyber Monday, more than enough time to transform your website or e-commerce platform!
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