Cyber Monday 2014 set some astounding shopping records, with more than $2 billion in online sales for the first time ever. Even more surprising? Mobile devices and tablets accounted for 41% of that traffic.
While digital merchandisers certainly don’t have to wait until the Monday after Thanksgiving to set records for online sales, taking a cue from some online merchandisers who have accomplished this feat can inspire adoption of industry best practices. Setting up your ecommerce platforms to model their purposeful strategies can lead to improved sales year-round.
Success Story #1: WALMART
While Walmart started running sales a week before Cyber Monday 2014 and continued to offer promotions through Friday, December 5th, it was on Cyber Monday 2014 that the online merchandiser experienced its biggest day for online orders. Consumers viewed more than 1.5 billion pages on the site with a colossal 70% of the traffic originating from mobile devices. The shoppers were particularly interested in the company’s deals on the latest electronics, gaming consoles, HDTVs, and toys.
The online merchandiser’s strategy specifically targeted the millennial shopper and other employed site visitors with its deal line-up. They released a “Cyber Monday Evening Edition” email campaign that resulted in an increased traffic surge in the evening. It was the first time the company attempted an evening edition, but they strategically planned it after their research showed that one in every five customers planned to shop on Monday night, with 40% of them citing work schedules as a reason they didn’t shop during the day.
The company also offered its shoppers the opportunity to embrace an in-store, same-day pick up option after their purchases. This option is convenient, considering two-thirds of U.S. consumers reside within 5 miles or less of Walmart. Coincidentally, the retailer continues to experience a rise in sales, as online shoppers visit stores for pickups and end up making other purchases!
Success Story #2: OVERSTOCK
Online merchandiser Overstock.com reported a sales increase of 24% over their previous year and recorded Cyber Monday 2014 as its top single day of sales in its history. Sales of furniture were the highest performers, with a 43% increase over the previous year’s numbers. “We’ve seen a lot of people purchasing larger home and garden items this year, things you normally wouldn't associate with holiday gifts," shared Overstock President Stormy Simon in a December 2014 Global Newswire article.
Overstock’s Club O Loyalty Program grew considerably during this time, too. Members received free shipping, at least 5% in reward dollars for all purchases, and 20% in reward dollars on select products. CEO Patrick Byrne also accredited the growth in sales to the company’s endeavor to cut prices and provide customers with the best values.
Success Story #3: AMAZON
Amazon.com kicked off its holiday deals a week before Cyber Monday in anticipation of the large number of holiday shoppers. The move benefited them big time. In a December 2014 Fortune online article, Amazon was acknowledged as the “online shopping leader" for Cyber Monday 2014. The online merchandiser recorded stellar sales every second of every minute! Further, its sales increased 23.8% within the five-day shopping period, significantly higher than the wider e-commerce industry’s growth of 20.6%.
An important factor that largely influenced the high number of sales was the introduction of Amazon’s Seller App. It helps on-the-go sellers manage their businesses on Amazon directly from their mobile devices. It enabled these sellers to maintain inventory, list, and source new items from the retail merchandiser while also providing a quick response to customer inquiries.
Besides setting extraordinary sales records on Cyber Monday, each online merchandiser here shares a common business practice -- they all work with a group of professional ecommerce experts who know how to develop a highly effective plan for an ecommerce platform. Working with a team of consultants that have not only a deep understanding of creating and implementing ecommerce solutions that address each client’s specific business needs and customer base, as well as years of experience in executing those plans -- on time and within budget -- is the key to making every Monday online feel like a Cyber Monday for your business!
Improving profit margins is at the top of all eCommerce merchandiser’s to-do lists which is why we’ve created The Digital Merchandiser’s Guide to Maximizing Margins with Visualized Data eBook.
Download the eBook to learn more!
