The US Thanksgiving has come and gone, and with it Black Friday, the occasion when everyone tries to find the best deal. But the limelight is slowly turning to focus on the new comer to the shopping scene – coined Cyber Monday in 2005. We’d written about the date in early August, as with the internet and the search engines working the way they do, it would give you time to put yourself in a commanding position. Did you take advantage of the forewarning? Or did you just settle for where you are, and lean on your in-store sales? If you did the latter, you’ll likely soon be kicking yourself as the predictions and the numbers are starting to come in.
Cyber Monday was first used in 2005 after the increase in online spending had suddenly jumped. Since then, the industry has climbed to being such a huge business that some stores are reporting that nearly 40% of their yearly income is from this singular online shopping day. And that number will only continue to grow. This year it’s estimated that on this one day alone Americans will likely spend somewhere in the neighborhood of $1.4 billion dollars in 24 hours, and that’s up a good 17% from last years online spending. With more and more people having more connected devices, from phones to computers, iPads and laptops, the lure to shop online is growing rapidly. The best quote about from comScore came would have to be the following:
Of all the benchmark spending days, Thanksgiving is growing at the fastest rate, up 128 percent over the last five years
That’s a huge portion of income that you could potentially be missing out on just by not taking advantage of the online branding advice we hand out freely here on our blog. The number of 17% growth, year after year needs to be taken with a grain of salt of course, as some industries can expect consistent sales, but as a business owner you need to take stock. What could you achieve with a better online position, what improvements could you make with a 5% increase in income? What about 8%, or 10% for that matter? When you’re ready to find out, contact us here at Fresh and we’ll help you answer those questions.