Record Setting Cyber Monday
Reports are indicating that Cyber Monday’s overall online sales were record setting. IBM’s analytics found a 20.6% increase in online sales over last year. Cyber Monday also closed out the largest five day online sales period (Thanksgiving through Cyber Monday).
Sales from mobile devices are growing rapidly as well. PayPal reported a nearly 94% increase in consumers shopping through PayPal on their mobile devices.
According to IBM, mobile sales accounted for over 17% of total online sales representing an astounding increase of over 55.4% compared to last year. While smartphones accounted for only 5.5% of all online sales, the devices drove nearly 20% of all online traffic. This indicates that consumers prefer to browse and research via their smartphone but generally prefer to make purchases from a tablet or PC. Tablets were responsible for 11.7% of all online sales.
Consumers are clearly getting more comfortable with not only the security of online shopping but the convenience as well, especially around the holidays. The substantial growth is also tied to retailers’ investments in technology to improve the shopping and checkout experience as well as order fulfillment.