. This makes it the largest e-commerce sales day ever in the US, surpassing the $7.9 billion the sales holiday posted in 2018 and further establishing Cyber Monday as the most lucrative online sales holiday for merchants.Merchants must continue to focus on Cyber Monday and Black Friday during the holidays because their annual online sales growth figures are still outpacing the overall holiday season's. Cyber Monday's e-commerce sales rose 19.7% YoY and Black Friday's jumped 19.
This difference shows that Black Friday and Cyber Monday still have untapped potential despite already being the tentpoles of the holiday shopping season, especially considering Thanksgiving, which is also a part of the Cyber Week shopping period that runs from Thanksgiving through Cyber Monday, saw its online sales increase just 14.5% YoY this year.
Mobile commerce, specifically through smartphones, has played a huge role in driving sales during Cyber Week and throughout the holidays. Smartphones have contributed 58% of traffic and 36% of purchases from November 1 through Cyber Monday, making them influential as both a research and purchasing tool.
Both merchants and issuers need to bolster their offerings to take advantage of smartphones' growing value during Cyber Week. Merchants need to improve smartphones' underwhelming conversion rate. On Cyber Monday, smartphones posted a conversion rate of just 3.2%, which is far behind tablets' 5.5% and desktops' 7.6%.
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Source: BusinessInsider - 🏆 729. / 51 Read more »