Cyber Monday Next Target
After the Black Friday frenzy, consumers already have set their sights set on the next discount shopping target — Cyber Monday.
The possibility that Cyber Monday, in which promotions move online, could garner Black Friday-like attention is driven by a couple of big factors. One is consumers' insatiable appetite for cool electronics, as evidenced by how they sought out the latest digital products on Black Friday. The other is the move by traditional retailers like Walmart and Target intent on seeing more of their more sales coming from the Internet. They are hoping to take back more market share from Amazon and other online sellers.
Jenah Marsh of Covina, Calif., was fairly unimpressed with the deals she was finding Friday as she shopped with friend Tammy Frame of Thousand Oaks, Calif., at The Oaks Shopping Center. But the prospect of Cyber Monday had her brimming with optimism.
“Cyber Monday — it’s going to be really good,” Marsh said.
Retailers are sure to be emboldened by the online-selling tallies they are seeing so far this four-day shopping weekend.
Almost $5 billion was spend online between Thanksgiving Day and Black Friday, an 11.4% increase compared to the same two days last year, Adobe reports. In addition, Black Friday was on track to be the first shopping day ever in which more than $1 billion in merchandise was bought online.
“We still expect Cyber Monday to surpass Black Friday and become the largest online sales day in history with $3.36 billion," said Tamara Gaffney, principal analyst and director of Adobe Digital Insights, in a statement.
Walmart was among the retailers benefiting from the boom in online sales via smartphones and other mobile devices. For its Black Friday event, 70% of the retailer’s online traffic was through mobile. And 60% of orders on Walmart.com were made with mobile devices. “Customers are getting more and more comfortable clicking the buy button on their smartphones,’’ Walmart spokesman Ravi Jariwala said in a statement.