If your Internet connection seems slow today, it’s probably due to the vast quantities of people not working. What are they doing? Shopping. A lot. It’s ‘Cyber Monday’ which means many sites have deals for lots of goodies. Rather than list those deals, why not take a look at the history, facts, and figures of Cyber Monday? A useful teaching opportunity if students are busy not paying attention in class and instead shopping on their smartphones!
- The term “Cyber Monday” was invented in 2005 by Shop.org, part of the U.S. trade association.
- The volume of e-commerce was almost $900 million dollars in 2009, according to comScore.
- “Cyber Monday” isn’t actually the largest e-commerce day of the year (see here). That distinction belongs to “Green Monday” or “Green Tuesday”, which falls on December 13th and 14th this year.
- “On the web sites of department stores, Coremetrics data finds a 12-percent increase in order sessions, a 30-percent surge in average items per order, and a 10-percent rise in average order value.”
- Cyber Monday is the online retail industry’s name for the Monday immediately following Thanksgiving during which stores and retailers offer sales online.
- Retailers participate in Cyber Monday by promoting special prices and offers for online purchases, which are available only on this one special day. While some retailers announce discounts up to a week before the sale event, others prefer to preserve the element of surprise and wait until the morning of Cyber Monday to announce savings.
- The use of a computer is necessary in order to take advantage of Cyber Monday deals. However by submitting personal information along with a credit card number over the Internet always poses an identity theft threat.
- The busiest day for internet sales occurs around mid-December. Cyber Monday, meanwhile, has only been about the 12th busiest online shopping day.
- 9 out of 10 retailers plan to offer deals and specials for Cyber Monday this year (see here).
- The sales of Cyber Monday outweighs Black Friday in the US (see here).
- On the web sites of department stores, Coremetrics data finds a 12-percent increase in order sessions, a 30-percent surge in average items per order, and a 10-percent rise in average order value.
- Cyber Monday sales have increased by at least 100 million dollars each year since 2005.
- More people visit online stores on Thanksgiving than on Cyber Monday.
- Online shoppers should not expect to get the same deals offered on Black Friday when they log in on Cyber Monday. Some retailers will offer the exact same deals while others make them available only to brick-and-mortar shoppers.
Infographic from 2009 Black Friday & Cyber Monday
2010 Sites That Have Had Troubles
- On Monday, Victoria’s Secret had major problems. It was unable to complete shopping cart transactions (2:15pm ET) and was down completely between 10:06 am-12:00 pm ET, with a message on its site saying it was “down for maintenance.”
- Availability (defined as the percentage of times that a shopper’s end-to-end transaction is accomplished without error) was not up to par among major brands on Friday. Amazon’s availability was 73.49 percent, while Apple came in at 87.35 percent and Circuit City at 63.75 percent.
- Sears had just over 61 percent availability, but turned in a performance of 100 percent on Saturday.
- Dell saw downtime of around 35 minutes between 9:40 am and 10:15 am ET.
- Staples availability was somewhat off, at 84 percent, on Friday, but rose to 95 percent by Saturday.
What’s Been Selling
- HDTV’s were the hot item this season, thanks to prices that literally nosedived. According to Retrevo (see disclosure below), a Sunnyvale, Calif-based company that tracks the consumer electronics market, by Black Friday, interest in HDTVs had surged by more than 250 percent compared to interest at the beginning of November. Indeed, Samsung’s LN52A650 52″ LCD TV was the fourth best-selling product over the web on Black Friday, according to PriceGrabber.
- Nintento Wii topped PriceGrabber’s list of Black Friday products, followed by Ugg boots, the Sony BDP-S350 1080p Blu-ray Disc Player, Samsung’s LN52A650 52″ LCD TV and Nintendo’s Wii Fit. According to PriceGrabber, year-over-year interest in Blu-ray/HD-DVD Players was up 147 percent.
- The Wii was a big winner on Cyber Monday as well, according to Price Grabber. In their list of top products, the Sony BDP-S350 1080p Blu-ray Disc Player came in at No. 3, Apple’s iPod Touch 8GB MP3 player was No. 4, followed by Samsung’s LN52A650 52″ LCD TV in the No. 5 spot. Apple’s iPod Nano 3rd Generation 4GB MP3 Player and the Apple iPod Touch 16GB MP3 Player were ranked No. 10 and No. 11, respectively, followed by the Samsung LN46A550 46″ LCD TV (No. 12), the Sharp AQUOS LC42SB45U 42″ LCD TV (No. 14) and the PanasonicTH-42PX80U 42″ Plasma TV (No. 16).
- According to RBC Captial Markets analyst Mark Sue, consumer electronics retailers used navigation devices as a lure this holiday season. The Garmin Nuvi 200 was available for $97, the TomTom One 125 for $99, the Garmin Nuvi 260w for $189, and the Magellan 1212 for just $79. Sue points out that Garmin’s mid- to higher-tier products were being discounted as well. While this might mean good news for consumer electronics retailers in the short term, I get the feeling they might have pulled too much of their sales forward and will struggle in the coming months.