Survey: Cyber Monday gaining traction as post-Thanksgiving retailing event
BOSTON — Almost 2-in-5 people plan to shop Cyber Monday — the Monday after Thanksgiving when online retailers historically offer steep discounts and special promotions — according to a Consumer Pulse study of more than 1,400 U.S. consumers conducted by Boston-based custom research firm Chadwick Martin Bailey and iModerate Research Technologies that was released Friday.
While it still lags behind Black Friday in volume of sales, according to ComScore, Cyber Monday is the heaviest online shopping day of the year with sales topping $1 billion in 2010, compared with the same year’s Black Friday sales of $10.6 billion, 38% of people plan to shop on Cyber Monday, while a nearly identical percentage (39%) plans to shop Black Friday. And as many as 61% of Cyber Monday shoppers will also be searching stores for deals the day after Thanksgiving.
“Online retailers have clearly taken notice and are making strong preparation,” stated Jeff McKenna, senior consultant at Chadwick Martin Bailey. “You will be seeing a big push by online retailers concurrent with Black Friday events as they seek to attract online shoppers. Knowing that many Black Friday shoppers also intend to shop online, they are a prime target for online offers.”
The study also looks at promotions motivating holiday shoppers — 52% of online shoppers list free shipping as the number one motivation to purchase. In-store or online, consumers are on the hunt for deals, only 15% plan to spend more, half plan to spend the same as last year, and nearly a third intend to spend less.