For years the holiday shopping season unofficially kicked off on the day after Thanksgiving, a day that came to be known as “Black Friday.” Retailers have traditionally enticed customers into their stores on this day with massive sales and discounts. As “Black Friday” began to grow into the wee hours of Thursday, and the throngs of bargain hunters grew, another parallel to how consumers shop also exploded; e-commerce. Now, the calendar rolls from Black Friday into “Cyber Monday” (and as this year has shown, these online deals are extending past Monday through the entire first week of December). But what does the growth of Cyber Monday and online shopping mean for the biggest spending season of the year? Let’s look at a few statistics and trends.
2015 Cyber Monday spending eclipsed the $3 billion mark for the first time. This is a 12% increase from 2014, according to Adobe Index.
About 41% of orders were made from mobile devices.
While online orders grew, in store purchases from Thanksgiving and Black Friday fell 11% from 2014. This year’s two day total topped out at $12.1 billion.
One major pain point for consumers who shop online is a lack of inventory. According to Adobe Index, a chosen item was out of stock 13% of the time.
As more and more consumers opt for the comfort of their living room over the hustle and bustle of door buster deals, the way retailers respond will be critical. User-friendly online and mobile platforms are now a priority going forward. Fulfillment accuracy and inventory management will also be crucial as more and more shoppers order from multiple places.
Barrett Distribution Centers, with a focus on technology designs customized supply chain solutions for retailers. For more information, click here for our warehousing, fulfillment and transportation services.