Cyber Monday Growth to Continue: Study
The growth of Cyber Monday shoppers continues to increase, and retailers are addressing this with nearly nine in 10 (88.2 percent) planning to have have a special promotion for Cyber Monday, up from just 72.2 percent in 2007., according to a new study by to Shop.org’s eHoliday Survey, conducted by BIGresearch.
Retailers’ Cyber Monday plans are more robust this year with nearly half of companies offering specific deals (49 percent, up from 42.9 percent last year) and many planning one-day sales (41.2 percent vs. 32.9 percent last year) and free shipping on all purchases (21.6 percent vs. 15.7 percent last year). In addition, the majority of retailers (62.7 percent) will send promotions and deals to shoppers through a special Cyber Monday email.
“When Shop.org coined “Cyber Monday” to illustrate the trend of people shopping online on the Monday after Thanksgiving, we never imagined it would become such a popular phrase in the retail dictionary,” said Joan Broughton, interim executive director of Shop.org. “Today, Cyber Monday has become such a crucial component of the holiday season that many retailers – and shoppers – don’t remember the holidays without it. And just when we think that Cyber Monday can’t get any bigger, it does.”
Cyber Monday, a term coined by Shop.org in 2005, began after retailers noticed a trend of people shopping online on the Monday after Thanksgiving. Today, Cyber Monday is viewed as the online equivalent to Black Friday: the ceremonial kickoff to the online holiday shopping season when shoppers flood websites expecting robust promotions and many retailers highlight some of their most compelling online holiday offers.
Although many will opt to shop for holiday gifts online from home, many Americans also set aside time over their lunch hours or at the end of the day to shop online from work. According to the survey, 54.5 percent of workers with Internet access, or 70.1 million people, will shop for holiday gifts from the office this year. Employees most likely to shop from work include men (56.5 percent) and young adults 25-34 (71.8 percent).
“Even though much of the Cyber Monday shopping is shifting to early mornings and late nights, there’s something to be said for being able to shop online for holiday gifts without worrying about curious children or spouses looking over your shoulder,” said Phil Rist, EVP, strategic initiatives, BIGresearch. “Many businesses understand that Americans’ work and personal lives are merging, and would rather have employees shopping online at work than driving all over town during their lunch hour looking for the perfect gift.”
While online retailers will feature promotions and savings on their own sites, more than 700 companies have come together again this year to feature their Cyber Monday deals in one place. At CyberMonday.com, which launched four years ago, retailers will be posting holiday promotions and special savings both on Cyber Monday and throughout the holidays. CyberMonday.com, powered by Cartera Commerce, was created by retailers as a one-stop shop for consumers looking for the best Cyber Monday promotions.
In addition to hundreds of special offers, some of which will be exclusive promotions only available on the site, CyberMonday.com will feature a Deal of the Hour on both Black Friday and Cyber Monday this year, highlighting a different retail promotion every 60 minutes. Offers will include free shipping specials, dollars off, percentages off, and free gifts with purchase.
The Shop.org eHoliday Study, conducted by BIGresearch, polled 51 retailers and was conducted Sept. 1-27, 2010. The poll on consumer shopping at work was conducted for Shop.org by BIGresearch from Nov. 3-9, 2010. The survey, which polled 8,778 consumers, has a margin of error of plus or minus 1.0 percent.
Shop.org, a division of the National Retail Federation, is membership community for digital retail. Founded in 1996, Shop.org's 600 members include the 10 largest retailers in the U.S. and more than 60 percent of the Internet Retailer Top 100 E-Retailers.