Digital demand weakens Cyber Monday
By Adam Curtis
Cyber Monday was created in 2005 to help boost the visibility and popularity of online shopping, then a novel idea.
Now, 11 years later, due to the rise of digital technologies and consumer expectations, online shopping isn’t novel. It’s standard.
We see that in the fact that Black Friday online sales almost equaled those of Cyber Monday. Black Friday online shopping topped Cyber Monday in terms of year-over-year percentage increase.
It’s not just total dollars, it’s also the number of shoppers. More people shopped online than in-store over the holiday weekend. Maybe that’s why we saw less of this in 2016.
What these numbers show is that retailers need a strong digital strategy at the core of their companies if they want to remain profitable and relevant. Amazon and other digital-first companies already have an advantage here, as they were built from a digital foundation. Traditional brick-and-mortar retailers are still playing catch-up, but top digital adopters like Target, Walmart and Kohl’s are quickly gaining ground.
Digital transformation isn’t easy. It involves a total reexamining of how to do business. But, as consumers continue to demand seamless digital experiences, there is no other option other than obsolescence.
Don’t let that happen to you.