Online sales should grow by 18% on Cyber Monday to reach $2 billion, predicts Adobe [pdf] in a November report. That should make it the biggest shopping day of the holiday season, a position it has held for the past 2 years, according tocomScore, which forecasts 17% e-commerce spending growth for the holiday period. Underlying the significance of Cyber Monday, survey results from CouponCabin.com find that 47% of Cyber Monday shoppers will spend more money online that day than they will spend in-store for the rest of the holiday season. Roughly 6 in 10 plan to spend more than $100.
Overall, 61% of adults surveyed online by Coupon Cabin said they are familiar with Cyber Monday. That’s up from 48% last year.
Brick-And-Click Retailers to Benefit
The Adobe forecast projects a 540% increase in revenue on Cyber Monday compared to the average day for brick-and-click retailers, and sees a comparatively smaller 210% rise for online-only retailers. For both brick-and-click and online-only retailers, though, Cyber Monday should account for more sales than Black Friday.
A study from Nielsen supports that projection. Nielsen found that only 17% of consumers surveyed are planning to shop on Black Friday (a figure that is much lower than various other pieces of research, including this one from Qualtrics). However, according to Nielsen, 30% plan to shop online on Cyber Monday.
For those who plan to shop online, retailer websites will be the most commonly-accessed source of information. Consumers will also tap newspapers and circulars (40%) for sales information, as well as social media sites (also 40%).
- According to CouponCabin.com, 42% of smartphone owners who plan to shop online on Cyber Monday will “showroom” some products on Black Friday before buying them on Cyber Monday.
- Almost 4 in 10 employed shoppers plan to look at Cyber Monday deals from work, up about 50% from last year.
About the Data: The Coupon Cabin survey was conducted online within the United States by Harris Interactive from November 6th-8th, 2012, among 2,104 adults ages 18 and older. The online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated.
The algorithms used to create the Adobe predictive analysis are based on more than 150 billion online visits to over 500 retail websites in the U.S. and Europe over the past six years. The margin of error is two percent with a 90 percent confidence level and the forecast’s methodology and degree of accuracy has been evaluated and verified by b3Intelligence, an independent analytics and research service provider.