10 Facts about Cyber Monday that will keep you up at night

10 Facts about Cyber Monday that will keep you up at night

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Cyber Monday is now the highest online spending day in the U.S and other countries as well. If you are still not sure why you should be part of this day, here are some facts that will blow your mind: 

1. Cyber Monday sales have increased by $100 million each year since 2005, estimates say, according to the International Business Times.

2. The top 5 selling products according to Adobe for this day are: Nintendo Switch, Chromecast, Roku, Hatchimals & Colleggtibles, and Amazon Echo. According to Shopify top items for purchasing  are Apparel, Accessories and Housewares (in that order).

3. In 2017, According to Adobe, consumers purchased $6.59 billion online during Cyber Monday, compared with $2.98 billion in 2015, and $2.65 billion in 2014.

4. Purchases made on smartphones also broke a record with $2 billion in sales. Purchases on smartphones are expected to increase each year.

5. Last year, Shopify tracked that there are around $280,000 in sales being made every minute.

6. According to Shopify , relative to other sources, email came in with the highest conversion rate at 4.29%, followed by search in second.

7. At the height of the weekend-long sales event, Shopify merchants were processing $1,138,574 per minute in sales compared to the $555,716 per minute peak in 2016.

8. Throughout the weekend of Black Friday Cyber Monday, November 24th to 26th, Shopify merchants collectively generated over $1 billion in sales.

9. Last year largest price drops heading into Cyber Monday were for toys with an average discount of 18.8 percent, followed by TVs at 21.1 percent and computers at 14.7 percent.

10. According to the National Retail Federation, 90% of online shoppers surveyed say low prices are most important to them. 86% say free shipping is next. Be sure to consider this in your strategies for this day. 

Make sure you are part of this day! We can help you create an awesome online store. Be prepared!