By: Catherine Perry
It’s another recording breaking year for Cyber Monday as more and more consumers shop at online stores for the holidays!
The numbers for the Cyber Monday and retail Thanksgiving weekend are in and they couldn’t be better. All projected estimates for these shopping days were exceeded! Actually, the projections were blown out of the water this year. As written in an article titled, “Cyber Monday Sales Hit a New All-Time Record in 2016,” on www.fortune.com, “It’s official: Cyber Monday 2016 was the biggest day in the history of U.S. e-commerce.” What? That’s right, folks…this past Monday saw more sales than ever before in the e-commerce world!
The Actual Numbers
News outlets quickly reported this big ecommerce story as compiled by Adobe Digital Insights. Cyber Monday set another new record so we wanted to share these interesting statistics with you, whether you are considering owning an online business or you already do own one.
“$3.45 billion spent online, which is a 12.1 percent increase year-over-year (YoY)”. This resulted in the largest “online sales day in history, surpassing Black Friday ($3.34 billion) by a narrow margin. (Adobe collects the data by measuring 80% of all online transactions from the top 100 U.S. retailers.) [Forbes]
Thanksgiving Day online sales were just shy of the $2 billion at $1.93 billion, an 11.5 percent increase YoY. [Forbes]
Black Friday set a new record by surpassing the three-billion-dollar mark for the first time at $3.34 billion (21.6 percent growth YoY). [Forbes]
Cyber Monday sales increased 12.1% year-over-year and surpassed initial expectations. Adobe also noted that there has been a broader shift to shopping online, which is making up for somewhat slower spending in stores these days. [Forbes]
Mobile devices accounted for 31% of all Cyber Monday online sales, and 44% of all e-commerce site visits. While smartphones and tablets make it easier for shoppers to access online deals, mobile had a lesser impact on Cyber Monday than it did on both Black Friday and Thanksgiving Day this year. [Business Insider]
Thus far this holiday season, online sales in the U.S. total $40 billion. [Forbes]
The graph below by Business Insider clearly shows the upward climb of the ecommerce industry during the holiday season. As reported in the article, “Cyber Monday Inches Past Black Friday in Online Sales“, they explain, “E-commerce will truly become the future of retail, as nearly all of the growth in the retail sector now takes place in the digital space.” Year-after-year consumers have been choosing to shop from the comfort of their home, office or just about anywhere they choose. The convenience and ease of online shopping allows people the ability to shop for anything they need at anytime they want – it’s a beautiful thing, isn’t it?!?!
RELATED ARTICLE: What’s Projected for Online Sales Growth in the Next Five Years
It’s a Growing Industry
With reports of more people shopping on-line and digitally, there is no question that this mode of shopping is growing rapidly and exceeding that of brick-and-mortar businesses. Here are a few interest stats we found from eMarketer we wanted to share on the growth of the ecommerce industry. They report….
In 2016, total retail sales across the globe will reach $22.049 trillion, up 6.0% from the previous year.
eMarketer estimates sales will top $27 trillion in 2020, even as annual growth rates slow over the next few years. They are shown in the graph below.
Consider an E-commerce Business
If you have been thinking of purchasing an e-commerce business, there is no better time than right now! It is an awesome market and a perfect time to be in it, and there are no signs of it slowing down. If you have been searching for a business opportunity that gives you flexibility to work from any location you choose, the ability to create your own hours and a business you can work hard at to grow for your future – then you should consider an e-commerce business.
RELATED ARTICLE: Top 5 Reasons to Start an Ecommerce Business Before the End of 2016
Be Sure Your Business is Ready for the Holidays
If you already own an ecommerce business, we continue you to urge you to ensure your online business is ready for this holiday season! As an ecommerce owner, you are in a BOOMING industry and you need to do the work it takes to be noticed in the online marketplace. What can you do? Be sure you keep your business in front of your target market through social media marketing, as well as, keep your website optimized for the search engines. Then, you will be poised to participate in this growing industry. Look at our previous post, https://pure-ecommerce.com/blog/2016/11/deck-ecommerce-site-holidays/, with tips for getting your home page and categories in a festive mode. Do not wait to prepare your ecommerce business for any season of the year, work hard all year long to ensure they are shopping with you!
What This Means For You!
We understand statistics and number crunching may be a little dull and boring to you, but at Pure-Ecommerce we strive to bring you the latest information on the ecommerce industry. we want to share with you important facts and figures to give you a better understanding about this exciting industry. For more interesting ecommerce growth statistics and to learn more about owning an internet business visit us at www.Pure-Ecommerce.com.
Yes, this is the major shopping season of the year, but online shopping will not stop on December 26th, nope, no way! It will only continue as many dollars are spent online all year long. Get started on this great career so you can be a part of the next big year – 2017!