Cyber Monday was up 29 percent for online retailers selling though Mercent Retail versus last year, according to the Mercent Retail eCommerce Index. Mercent is a technology company that helps retailers reach more consumers online.
The Index matches prior data and reports retail activity handled by Mercent’s online shopping and advertising channels, including comparison technology, third-party marketplaces, and affiliate programs. The index only polls retailers live on the Mercent Retail system during the reported time period, in this case the 24 hours of Cyber Monday.
“We predicted a strong Cyber Monday following industry record high weekend retail sales, and final figures from Mercent’s eCommerce Performance Index came in as forecasted,” stated Eric Best, CEO of Mercent. For the 24 hours of Cyber Monday Mercent reports 29 percent growth in online retail sales, a welcome revenue boost for the retail industry which has struggled through the challenging economy. Aggressive advertising…and the convenience of shopping online have enticed millions of consumers to spend their holiday dollars online—retailers looking to maintain this positive momentum in the run up to Christmas should remain focuses on promotional and pricing activities.”
Cyber Monday is the moniker given the Monday following Black Friday, the day after Thanksgiving in the United States, which is the busiest retail-shopping day of the year. The term debuted in 2005 in a press release from Shop.org entitled, “’Cyber Monday’ Quickly Becoming One of the Biggest Online Shopping Days of the Year.”
IBM Coremetrics reported similar date to the Mercent Index (all U.S. data):
- Online sales were up 33 percent over 2010, 29.3 percent over Black Friday 2011.
- Overall conversion rate went up from 5.6 percent in 2010 to 5.71 percent with mobile seeing the most change, going from 2.24 percent to 2.99 percent.
- Mobile sales- almost 11 percent of consumers used a mobile device to visit ecommerce websites.
- Social media- only .56 percent of Cyber Monday shoppers were referred directly from social media sources.
Affiliates around the web reported strong sales. One commented, “It was my single best day in 10 years…and some merchants on networks report a little later, like Amazon.” Another said, “Affiliates for Rampage Sports sites were up 125 percent for Cyber Monday 2011 over 2010…AC Lens up nearly 60 percent YoY growth when contact lenses aren’t a Cyber Monday kind of product line.”
EMarketer predicts that $47 billion will be spent online during the 2011 holiday season in the U.S.
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