For American shoppers, the Thanksgiving celebration does not end on a Thursday and neither does it close on a Friday. Since the dawn of online shopping and ecommerce solutions, Cyber Monday comes as its rewarding conclusion. The said occasion features some of the largest online discounts one would find all year. Although tech products are usually hot items, shoppers can buy a lot of non-electronic goods at amazingly low rates. As such, Cyber Monday has gone on to become the biggest shopping day for ecommerce, even beating Black Friday in digital sales.
This article tackles the latest Cyber Monday statistics, recent data on consumer spending, and the preferences of shoppers. Moreover, it shines a light on the most popular goods as well as the impact of COVID-19 on sales. By reading, retailers will learn why it is a good idea to slash prices during this occasion. They will also gain insights on consumer habits and how big the discounts should be to take advantage of a large number of digital shoppers during Cyber Week.
Cyber Monday Statistics Table of Contents
General Cyber Monday Statistics
In 2020, Cyber Monday became the most significant day for online shopping as it set an all-time record for digital revenue in the US. And this isn’t just a local phenomenon; other nations like the UK posted big numbers as well. The popularity of Cyber Monday is a big win for online merchants of all scales. Even small businesses get a chance to offer their wares to a wider audience and secure large returns. Meanwhile, as the latest Cyber Monday statistics show, big-box retailers continue to reap much bigger sales compared to regular selling days.
US Cyber Monday 2020 Statistics
- In 2020, the online sales on Cyber Monday reached $10.8 billion, making it the biggest ecommerce selling day of all time (CNBC, 2020).
- This represents a 15.1% increase from the total revenues of Cyber Monday in 2019 (CNBC, 2020).
- Surprisingly, the 2020 revenue total was actually lower than Adobe’s forecast, which was $12.7 billion (CNBC, 2020).
- Lending to Cyber Monday’s high revenues is the fact that traffic to brick-and-mortar stores was down by 42.3% during Cyber Week in 2020 (Forbes, 2020).
- The sales of brick-and-mortar stores also declined by 23.9% during Cyber Week (Forbes, 2020).
- During the peak hour of Cyber Monday 2020, 8:00 PM – 9:00 PM, the buying rate reached $12 million per minute (Statista, 2020).
- Moreover, the last four hours of Cyber Monday accounted for 25% of the day’s revenue (PracticalEcommerce, 2020).
- The gross merchandise volume in 2020 also increased by 74% year-over-year (BigCommerce, 2020).
- In addition, the average order value increased by 17% (BigCommerce, 2020).
- The US leads all countries in Cyber Week sales and experienced 67% growth YoY in gross merchandise volume (BigCommerce, 2020).
- An estimated 186 million shoppers purchased goods during Cyber Week 2020, 190 million fewer than that of Cyber Week 2019 (The Washington Post, 2020).
- Clicks on the sites of digital retailers went up by 46% on Cyber Monday in 2020 (ClickZ, 2020).
Source: Statista 2020
Historical Cyber Monday Statistics
- Cyber Monday began in 2005 when the National Retail Federation created a digital counterpart of Black Friday (BlackFriday.com, 2021).
- The holiday surpassed $1 billion for the first time in 2010 to become the biggest online shopping day at the time (Comscore, 2010).
- During The Great Recession in 2007, Cyber Monday still managed to pull $733 million in revenue, higher than that of Black Friday ($531 million) that year (Comscore, 2008).
Cyber Monday in Other Countries
- 28 countries celebrate Cyber Monday (Campaign Monitor, 2019).
- Cyber Monday and Black Friday account for a 180% increase in lead acquisition compared to regular shopping days (Socital, 2020).
- In Europe, UK shoppers are the most aware about Cyber Monday, with a share of 89%, followed by shoppers from Germany (86%), Spain (85%), Italy (80%), Netherlands (70%), and Sweden (69%) (Simon-Kucher & Partners, 2020).
- Moreover, Cyber Week sales in the UK increased by 146% in 2020, placing the country at the 2nd spot in overall sales, behind only the US (BigCommerce, 2020).
Cyber Monday Awareness in European Countries
UK: 89
UK
%Germany: 86
Germany
%Spain: 85
Spain
%Italy: 80
Italy
%Netherlands: 70
Netherlands
%Sweden: 69
Sweden
%Denmark: 52
Denmark
%Source: Simon-Kucher & Partners 2020
Designed byCyber Monday Shopping Behavior Statistics
While a slight majority of shoppers use desktops, smartphone users have steadily increased through the years. And in 2020, they accounted for more than $74 billion in sales. After all, smartphone shoppers have the luxury of buying not just from retailer websites, but also from shopping apps. Meanwhile, merchants can use shopping cart software to sell across multiple channels. Given that there are more iOS users in the US, they accounted for bigger sales than Android users on Cyber Monday 2020.
By Device
- 37% of sales during Cyber Monday 2020 were made through smartphones (NBC News, 2020).
- Meanwhile, another study puts the share of purchases made through smartphones at 43% (BigCommerce, 2020).
- As such, revenue from smartphone purchases from November to December 2020 amounted to $74.6 billion while laptops and other devices accounted for $113.6 billion (Adobe, 2020).
- In addition, the conversion rate of smartphone shoppers on Cyber Monday 2020 was 3.31% while those who used laptops and other devices had a rate of 7.2% (Adobe, 2020).
- iOS users placed 106% more orders than Android users on Cyber Monday 2020 (BigCommerce, 2020).
- Android users spend more than 110 million hours on shopping apps in the weeks leading up to and during Cyber Week (Business of Apps, 2020).
By Preference
- 70% of shoppers planned to shop online during the holidays in 2020 (PYMNTS, 2020).
- In addition, 68% prefer to shop online because of its convenience while 48% cite the superior range of products online as their primary reason (PYMNTS, 2020).
- In a survey prior to Cyber Week 2020, most shoppers planned to take advantage of Cyber Monday sales at 30%, followed by the sales from Black Friday (24%), Small Business Saturday (18%), Thanksgiving (15%), and fall/pre-Black Friday (13%) (BlackFriday.com, 2021).
- The most anticipated holiday deals come from Amazon with 56% of shoppers looking forward to them, followed by Target (41%), Walmart (31%), Best Buy (22%), Kohl’s (21%), and home improvement stores (19%) (BlackFriday.com, 2021).
- Interestingly, 43% of US shoppers would rather pay $20 more to support a small business than save $20 in buying goods from a large retailer during the 2020 holiday season (UnionBank, 2020).
Source: BlackFriday.com 2021
Cyber Monday Sales Statistics
Cyber Monday wasn’t the only profitable day during 2020’s Cyber Week. In fact, it trailed all the other days in terms of the increase in sales from 2019. This means that the average customer spent a lot of money on Cyber Monday for it to reach $10.8 billion in total revenue. Moreover, they bought from both small businesses and large retailers, as shown by recent data.
So, exactly how much money does the average person spend on Cyber Monday? Read on to find out.
Customer Spending
- In 2020, shoppers spent $188.2 billion from November 2020 to December 2020, much higher than 2019’s total of $142.8 billion (Adobe, 2020).
- This represents a 30% increase from that of 2019 (PYMNTS, 2020).
- Moreover, the average cost spent by each shopper is $312 (The Washington Post, 2020).
- In addition, the total spending on Thanksgiving, Black Friday, and Cyber Monday in 2020 grew by 25% YoY (Comscore. 2020).
- The highest year-over-year increase in purchases during Cyber Week 2020 was during Small Business Saturday (30.2%), followed by Super Sunday (23.7%), Black Friday (21.6%), Thanksgiving (21.5%), and Cyber Monday (15.1%) (Digital Commerce 360, 2020).
- Based on 2019 Cyber Monday statistics, the average conversion rate of the said shopping holiday is 7.75% (Socital, 2020).
Businesses with the Highest Sales
- Amazon holds the largest market share among Cyber Monday online sellers at 56%, followed by Best Buy (11%), Walmart (9%), Macy’s (6%), and eBay (5%) (Edison Trends, 2019).
- However, in terms of ecommerce growth in the first half of Cyber Monday 2020, Walmart led the pack with 150%. It is followed by Etsy (84%), Target (71%), Best Buy (34%), and Amazon (29%) (Digital Commerce 360, 2020).
- Small businesses had a 501% increase in sales on Cyber Monday 2020 while large retailers saw a 486% increase (NBC News, 2020).
- However, retailers with over $1 billion in revenues enjoy a 70% higher conversion rate than small businesses (TechCrunch, 2020).
- Shopify generated more than $5.1 billion in sales during Cyber Week 2020, which represents a 76% increase from 2019 (Shopify, 2020).
- Amazon likewise posted huge numbers during the same period with its merchants collecting more than $4.8 billion, which represents an increase of over 60% from 2019 (Amazon, 2020).
- Moreover, 88% of the top 50 retailers offered deals for Cyber Monday 2020 (Digital Commerce 360, 2020).
- Delving further, the median discount given by the top 50 brands is 50% (Digital Commerce 360, 2020).
Source: Edison Trends 2019
Most Preferred Goods
- The hottest selling products on the 2020 edition of Cyber Monday were Super Mario 3D All-Stars, Airpods, Vtech toys, HP and Dell computers, and Chromecast (Adobe, 2020).
- Customers paid the lowest for electronic products during Cyber Monday 2020 compared to the other days during Cyber Week, with a digital price index of -26.8% (Adobe, 2020).
- The same went for sporting goods, which had a digital price index of -20.4%, toys (-18.9%), and home improvement items (-10.9%) (Adobe, 2020).
- Meanwhile, Small Business Saturday held a slight edge in appliance discounts with a digital price index of -20.1%, compared to Cyber Monday’s 19.8% (Adobe, 2020).
- Across the board, the biggest discounts were held on Cyber Monday, with a median of 29% (Digital Commerce 360, 2020).
- Between September and Cyber Monday in 2020, shoppers were most keen about buying clothes (50%), followed by home goods (39%), toys (21%), computers and tablets (20%), TVs (17%), and game consoles and video games (16%) (BlackFriday.com, 2020).
- Sporting goods had the biggest year-on-year growth in gross merchandise volume sold on Cyber Week 2020 at 136%, followed by automotive (51%), health and beauty (43%), and apparel and accessories (37%) (BigCommerce, 2020).
Cyber Monday vs Black Friday Statistics
Any talk about Cyber Monday often includes Black Friday. The said occasions are the two most profitable days during Cyber Week, with Cyber Monday holding an edge in sales. Black Friday, on the other hand, is a more popular occasion for physical stores and also has its share of online promos. This is why Black Friday is regarded as the crowd drawer while Cyber Monday is the money maker. And recent statistics on Black Friday lend credence to this claim.
- Cyber Monday 2020 exceeded the ecommerce revenue of Black Friday 2020 by $1.8 billion (Statista, 2020).
- However, in 2019, Black Friday was the faraway leader for in-store sales with 84.2 million shoppers, compared to Cyber Monday’s 21.8 million (National Retail Federation, 2019).
- Black Friday also beat Cyber Monday in the number of digital shoppers that year, 93.2 million to 83.3 million (National Retail Federation, 2019).
- The same followed for the number of orders, with Black Friday holding an order share of 45% (BigCommerce, 2020).
- But Cyber Monday still held the edge in ecommerce revenues in 2019 with $9.4 billion, higher than Black Friday’s $7.4 billion (Statista, 2020).
- Surprisingly, Black Friday had slightly bigger discounts on computers in 2020 with a digital price index of -28.6%. Cyber Monday’s was 28.2% (Adobe, 2020).
- What’s more, more people bought goods using their smartphones on Black Friday (40%) than on Cyber Monday (37%) in 2020 (PracticalEcommerce, 2020).
- Black Friday increased its purchases by 12% over the previous year while Cyber Monday’s total purchases dropped by 17% (ClickZ, 2020).
Source: National Retail Federation 2019
Data on Cyber Monday During the Pandemic
Although online shopping has been gaining ground prior to the pandemic, COVID-19 accelerated the shift to digital in a big way in 2020. Besides the lockdown, people were apprehensive about going out and shopping for fear that they would get infected with the coronavirus. This paved the way for Cyber Monday to further stamp its relevance since the discount deals and purchases are conducted online. And it’s poised to grow even bigger in the years to come.
- Visits to physical stores during the Black Friday weekend were down by 49% in 2020 amid COVID-19 (Forbes, 2020).
- Also, foot traffic was down by 23% on Cyber Monday 2020 (Forbes, 2020).
- With this, 47.4% of shoppers admitted that they prefer to shop online because they might get infected with the coronavirus (PYMNTS, 2020).
- 84% of shoppers admitted that COVID-19 will impact at least one facet of their shopping behavior (BlackFriday.com, 2021).
- And 91% of shoppers have shifted their buying habits due to COVID-19 (The Patriot Ledger, 2020).
- With this, 58% of shoppers have opted to buy goods online while 50% have decided to shop less (The Patriot Ledger, 2020).
- In addition, 50% more shoppers plan to have contactless pickups than in 2020 (BlackFriday.com, 2021).
- Moreover, store visits in the US declined by 52% on Black Friday partly due to COVID-19 (Global News, 2020).
How can retailers leverage social media for Cyber Monday?
Social media platforms have become essential for marketing and reaching consumers, especially during major shopping events like Cyber Monday. By employing effective social media strategies, retailers can increase visibility, engage with their audience, and drive more sales. Here are some actionable ways retailers can leverage social media for Cyber Monday:
- Create a Countdown to Build Anticipation: Use countdown posts to build excitement and remind followers about upcoming Cyber Monday deals. This can increase engagement and ensure that your promotions stay top of mind.
- Use Paid Ads for Targeted Reach: Social media platforms like Facebook and Instagram offer robust advertising tools that allow you to target specific demographics. Running ads in the days leading up to Cyber Monday can help attract potential buyers who are already interested in online deals.
- Leverage Influencer Marketing: Collaborating with influencers can extend your brand’s reach and credibility. Partner with influencers relevant to your product category to showcase your Cyber Monday deals and create buzz among their followers.
- Offer Exclusive Social Media Deals: Reward your social media followers by offering exclusive discounts or early access to your Cyber Monday sales. This can foster brand loyalty and encourage more people to follow your accounts.
- Engage with Shoppers in Real-Time: Use social media to answer questions, share product insights, and provide customer support. Engaging directly with potential buyers on Cyber Monday can enhance customer experience and reduce any purchasing hesitations.
- Highlight User-Generated Content (UGC): Share posts from customers who have tagged your brand or used your hashtag. This can create social proof, showing prospective buyers that others are excited about your products and deals.
- Host Live Sessions or Product Demos: Use live video features on platforms like Instagram and Facebook to showcase products, discuss deals, or answer questions. Live sessions can help build trust and give customers a chance to see products in action.
Make the Most Out of Cyber Monday
As we have seen, Cyber Monday is an ideal time for retailers to draw more people to their brand and products. The event resulted in the largest single-day sales from online shopping in the US, at $10.8 billion, and drew around 186 million shoppers. This number of people exceeds the population of the 8th most populous country in the world as of April 2021, Bangladesh. Any marketplace with that traffic is bound to give a wealth of opportunities to earn.
Cyber Monday facts also reveal that the average shopper spends more than $300 on Cyber Monday alone. And most of that money goes to electronics, sporting goods, clothes, and video games. Furthermore, Amazon, Best Buy, and Walmart are some of the primary destinations of Cyber Monday shoppers.
As a retailer, you should distribute the discounts across your product lines to attract more than one market to your store. In addition, you can make the biggest price cuts on slow-moving items or those up for replacement to maximize their profitability. It doesn’t matter if you’re a small business or a large retailer since the data reveals that sellers of both scales earned a lot on Cyber Monday.
Furthermore, selling on popular shopping cart software and apps like Amazon and Shopify increases your chances of making huge profits. Create or promote your shop and discount deals weeks prior to Cyber Week so that you can generate a buzz and gain traction with your target audience. This allows you to not get overshadowed by competitors and alternative brands.
Starting your online selling journey might be challenging at first, but there are ways to make the experience a lot more painless than it should be. As such, you can read our list of statistics on online shopping to gain knowledge about the ins and outs of the industry.
Key Insights
- Cyber Monday Dominance: Cyber Monday has become the most significant day for online shopping, with record-breaking digital revenue in the US, surpassing Black Friday in digital sales.
- Consumer Spending Trends: In 2020, US shoppers spent $10.8 billion on Cyber Monday, representing a 15.1% increase from 2019. The average order value also saw a 17% increase.
- Impact of COVID-19: The pandemic accelerated the shift to online shopping, with significant decreases in brick-and-mortar store traffic and sales during Cyber Week.
- Device Preferences: A significant portion of sales (up to 43%) during Cyber Monday 2020 were made through smartphones, highlighting the importance of mobile-friendly shopping experiences.
- Global Reach: Cyber Monday is celebrated in 28 countries, with the UK leading European nations in awareness and sales growth during Cyber Week.
- Popular Products and Discounts: Electronics, sporting goods, and home improvement items saw the highest sales and biggest discounts on Cyber Monday. The median discount offered by top retailers was 50%.
- Retailer Performance: Amazon holds the largest market share among Cyber Monday sellers, but Walmart, Etsy, and small businesses also saw substantial growth in 2020.
- Consumer Preferences: Convenience and a wider range of products are the primary reasons shoppers prefer online shopping during the holidays. Many consumers are willing to pay more to support small businesses.
FAQ
- What is Cyber Monday? Cyber Monday is a major online shopping event that takes place on the Monday after Thanksgiving. It offers significant discounts on various products, primarily through online retailers.
- How did Cyber Monday originate? Cyber Monday was created in 2005 by the National Retail Federation as a digital counterpart to Black Friday, aimed at encouraging people to shop online.
- How does Cyber Monday compare to Black Friday in terms of sales? While Black Friday traditionally focuses on in-store sales, Cyber Monday has surpassed it in online sales. In 2020, Cyber Monday generated $10.8 billion in revenue, compared to Black Friday’s $9.4 billion in online sales.
- What were the top-selling products on Cyber Monday 2020? The top-selling products included Super Mario 3D All-Stars, Airpods, Vtech toys, HP and Dell computers, and Chromecast.
- How has the COVID-19 pandemic affected Cyber Monday shopping? The pandemic significantly boosted online shopping as people avoided physical stores. This led to record-breaking online sales and a substantial decrease in brick-and-mortar store traffic.
- What percentage of Cyber Monday sales were made through smartphones? In 2020, up to 43% of Cyber Monday sales were made through smartphones, highlighting the growing importance of mobile commerce.
- Which countries celebrate Cyber Monday? Cyber Monday is celebrated in 28 countries, with significant participation in the US, UK, Germany, Spain, Italy, Netherlands, and Sweden.
- What strategies can retailers use to maximize profits on Cyber Monday? Retailers should distribute discounts across product lines, offer significant price cuts on slow-moving items, promote their deals weeks in advance, and leverage popular shopping platforms like Amazon and Shopify.
- What is the average amount spent by a shopper on Cyber Monday? The average shopper spent more than $300 on Cyber Monday in 2020, primarily on electronics, sporting goods, clothes, and video games.
- What are the benefits of participating in Cyber Monday for small businesses? Cyber Monday offers small businesses an opportunity to reach a wider audience, increase their sales, and compete with larger retailers through significant discounts and strategic marketing.
References:
- Adobe (2020). 2020 Holiday Shopping Trends. Retrieved from Adobe
- Amazon (2020, December 1). Supporting small, saving big, and shopping early: Amazon customers make the 2020 holiday season our biggest yet. Retrieved from Amazon
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- Richter, F. (2020, December 2). Cyber Monday Online Sales Hit $10.8 Billion. Retrieved from Statista
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