IBM Benchmark: Cyber Monday Online Spend Increases By 33 Percent Over 2010
So the IBM Benchmark is in for Cyber Monday’s online shopping extravaganza, and it appears that shopping from the office continues to king.
So much for post-Thanksgiving productivity at work!
Me, the only Cyber Monday deal I bought was a new version of VMWare Fusion for my MacBook Air. I’m a geek, and I like running multiple operating systems at the same time, what can I say? It also gave me a good excuse to try out the latest flavor of Ubuntu Linux (11.10).
But I was apparently in the minority. The U.S. Online retail sector delivered strong growth on Cyber Monday 2011 compared to the same period last year.
Here are the Cyber Monday headlines from the IBM Benchmark analysis:
- Cyber Monday 2011 Compared to Cyber Monday 2010 (year/year)
- Consumer Spending Increases: Online sales were up 33.0 percent over 2010, with consumers pushing the average order value up from $193.24 to $198.26 for an increase of 2.6 percent.
- Shopping Peaks at 11:05am PST/2:05pm EST: Consumers flocked online, with shopping momentum hitting its highest peak at 11:05am PST/2:05pm EST. Consumer shopping also maintained strong momentum after commuting hours on both the east and west coast.
- Mobile Sales and Traffic Grows: On Cyber Monday, 10.8 percent of people used a mobile device to visit a retailer’s site, up from 3.9 percent in 2010. Additionally, mobile sales grew dramatically, reaching 6.6 percent on Cyber Monday versus 2.3 percent in 2010.
- Cyber Monday 2011 Compared to Black Friday 2011
- Consumer Spending Increases: Online sales were up 29.3 percent over Black Friday.
- The Mobile Bargain Hunter: On Cyber Monday mobile traffic averaged 10.8 percent compared to 14.3 percent on Black Friday.
- Mobile Sales: Consumer sales on mobile devices reached 6.6 percent versus 9.8 percent on Black Friday.
- The Apple Shopper: Apple’s iPhone and iPad continued to rank one and two for mobile device retail traffic (4.1 percent and 3.3 percent respectively). Android maintained its position in third at 3.2 percent. Collectively iPhone and iPad accounted for 7.4 percent of all online retail traffic versus 10.2 percent on Black Friday.
- The iPad Factor: Shoppers using the iPad also continued to drive more retail purchases than any other device with conversion rates reaching 5.2 percent compared to 4.6 percent.
- The Social Influence: Shoppers referred from Social Networks generated 0.56 percent of all online sales on Cyber Monday versus 0.53 percent on Black Friday. Similar to Black Friday, Facebook led the pack, accounting for 86 percent of all social media traffic.
- Social Media Chatter: Discussions on social media sites leading up to Cyber Monday increased in volume by 115 percent compared to 2010. Top areas of discussion focused on consumers sharing tips about using price comparison websites while avoiding cyber scams, Cyber Monday deals for international consumers and conversations about Black Friday in-store shopping experiences.
“Cyber Monday was once again the big winner for the Thanksgiving holiday shopping season, with a record number of consumers focused on finding the best online deals,” said John Squire, Chief Strategy Officer, IBM Smarter Commerce. “Retailers that adopted a smarter approach to commerce, one that allowed them to swiftly adjust to the shifting shopping habits of their customers, whether in-store, online or via their mobile device, were able to fully benefit from this day and the entire holiday weekend.”
This news is based on findings from IBM’s fourth annual Cyber Monday Benchmark which tracks more than a million transactions a day, analyzing terabytes of raw data from 500 retailers nationwide.
With this data, IBM helps retailers better understand and respond to their customers – across the organization – improving sourcing, inventory management, marketing, sales, and services programs.