Retailers Hoping for Record Cyber Monday to Follow Friday Windfall
Retailers have been whetting consumers’ holiday shopping appetites for the entire month of November, and today presents the largest opportunities of all as online shoppers race to capitalize on Cyber Monday’s digital deals.
US retailers set all-time records on Thanksgiving and Black Friday, wracking up $11.6 billion in online sales. Adobe predicts that Cyber Monday will also set a fresh record of $9.4 billion, pushing the Thanksgiving weekend total to nearly $30 billion.
The increasing importance of online sales has forced traditional retailers to compete with e-commerce natives like Amazon not only by offering their own robust set of deals but also by investing in delivery infrastructure and reducing friction for consumers ordering online.
Target made shipping free throughout the holiday season. Walmart matched Amazon’s Prime deal of free two-day shipping and leveraged its mass network of brick-and-mortar stores as an advantage, promising customers they could pick up products in-store the same day they order online.
Shifting delivery policies and investments are a testament to Amazon’s dominance in the industry. As online sales grow, Amazon grows. And as Amazon’s commitment to convenience grows, its rivals’ commitments must grow, too. For rival retailers, it’s Amazon’s way or no way.