Cyber Monday: Will 2016 be record breaker?
Tuesday, November 29th, 2016
Although Thanksgiving Day festivities are now past us, the shopping frenzy is far from over. According to Forbes, this Cyber Monday is expected to be the largest shopping day in history. Overall, Cyber Monday is getting bigger and bigger with a CAGR of 16.8% between 2005 and 2015. The NRF’s Cyber Monday Expectations Survey conducted by Prosper Insights & Analytics over the weekend showed that 122 million Americans plan to shop online for Cyber Monday, an increase from the 121 million who planned to shop in 2015. 28 million, or roughly 23 percent of Cyber Monday shoppers, plan to shop from their mobile devices, compared to 29.6 million last year. And Adobe Systems Incorporated 2016 Digital Insights Shopping Predictions forecasts that $3.36 billion in sales are expected for this Cyber Monday. An interesting fact to notice also this year is the rise of Cyber Monday in the social conversation. Cyber Monday was mentioned 298,736 times in November 2015 on Twitter, Facebook, Tumblr, and Instagram (Integer research on Infegy). Since November 2015 until today, Cyber Monday has reached 678,779 mentions with 93% of positive sentiment, and young Millennials are dominantly engaged in this social conversation. For e-retailers, 2016 will be a learning opportunity, to help develop their strategies for 2017.
Image Source: Digital trends