By Todd Crawford on December 3, 2015
Historically, Cyber Monday has been the online version of Black Friday. In recent years however the lines have blurred, with the shopping window for both online and offline consumers expanding to the entire week. It seems like every year the deals are getting published earlier and earlier to build excitement and demand. For example, this year some advertisers were honoring their Black Friday deals as early as the Monday before Thanksgiving.
Black Friday, Cyber Monday – How About Thanksgiving Thursday?
Looking at the trends for the top retailers across the Impact Radius platform, we saw a dramatic increase in online sales on both Thanksgiving and Cyber Monday this year. The uptick in sales began in earnest on Wednesday, November 25th, with three notable spikes on Thanksgiving Day, Black Friday, and peaking on Cyber Monday. Year-over-year growth across the week was up on average by 38%. Mobile played a much more significant role this year as well. Revenues from mobile for the week of Thanksgiving increased an average of 125%, compared to the same week in 2014.
In the past, online retailers have had an advantage over their brick and mortar counterparts on pricing, sales tax, and overhead costs. However, in the last few years the tables have turned. Traditional brick and mortar stores are able to leverage multi-channel promotions, promote “buy online, pickup in store” options, and offer price matching to help them get the biggest share of the consumer’s wallet during the holiday season. With the holiday season just getting started (and some of the biggest sales yet to come), 2015 is shaping up to be the biggest ever.
The key to taking advantage of holiday retail opportunities is to get your promotions out as early as possible to build demand and excitement. Furthermore, have additional promotions available only on specific days, or for a limited time. Try a Thanksgiving Day deal, and something uniquely digital for Cyber Monday. Lastly, make sure your site is optimized for mobile, so you can convert more mobile traffic.