Cyber Monday has become the most significant date for consumers to shop online for all sorts of products ranging from home electronics, clothing, and jewelry, to appliances. With the introduction of this sales day into mainstream Black Friday shopping, retail stores have gained huge profits from online shopping, sometimes even rivaling in-store sales.
Cyber Monday Revenue Has Continued to Rise
As Cyber Monday becomes more popular, its revenue has grown exponentially since it was first established in 2005. Reaching a record high in 2020 of $10.8 billion, rising 15.1% from 2019, it established itself as the largest e-commerce selling day of all time.
Some interesting facts about Cyber Monday Revenue:
- Cyber Monday’s high revenue in 2020 can be attributed to the fact that most brick-and-mortar retail stores were closed or had heavy restrictions due to Covid-19. Since those have been removed in 2022, Cyber Monday may not see nearly as much revenue as people flock to in-store sales.
- During peak selling hours on Cyber Monday, total sale revenue was around $12 million every minute.
- The average order on Cyber Monday 2020 was 17% larger than in 2019.
- 2020’s predicted Cyber Monday revenue was $12.7 billion, which was $1.9 billion more than was actually made.
- The number of shoppers who made purchases during Cyber Week dropped from 2019. In 2020, only 186 million people made purchases, compared to the 376 million who shopped during Cyber Week in 2019.
- During Cyber Week 2020, brick-and-mortar store sales decreased by 23.9% but were offset by the large spending sprees of consumers online.
- The last four hours of Cyber Monday were when 25% of the day’s revenue was made.
Cyber Monday Throughout History
Cyber Monday has been around for 17 years, starting in 2005 as a counterpart to Black Friday, and was founded by the National Retail Federation. Only five years later, in 2010, Cyber Monday made companies over $1 billion in revenue, making it the largest online shopping day of all time.
When the Great Recession hit in 2007, everyone and everything suffered because of it, but Cyber Monday still managed to be a lucrative day. Managing to sell $733 million in revenue, it made $200 million more than Black Friday did that year, which only made $531 million in revenue.
The USA is not the Only Country to Celebrate Cyber Monday
While Black Friday is mostly only an American holiday, Cyber Monday is celebrated in quite a few countries worldwide, 28 to be exact. The UK leads when it comes to Cyber Week awareness and sales increases, increasing by 146%, putting it in a solid second place, right behind the USA.
Cyber Monday Awareness:
- UK: 89%
- Germany: 86%
- Spain: 85%
- Italy: 80%
- Netherlands: 70%
- Sweden: 69%
- Denmark: 52%
Cyber Monday’s Device Statistics
As Cyber Monday becomes more popular, the devices people shop from continue to change and evolve. While most people still use desktops to shop online for Cyber Monday, smartphones are becoming increasingly popular. They are easy to use, everyone has them, and they allow for quick access to get your hands on Cyber Monday deals.
Cyber Monday Device Fast Facts:
- Cyber Monday 2020 saw 37% – 43% of its sales being made via smartphones, the highest percentage since Cyber Monday began.
- Smartphone sales brought in $74.6 billion in revenue between November and December, while other devices such as desktops brought in $113.6 billion.
- Apple is known for being more popular, which is true for Cyber Monday. IOS users placed 106% more orders compared to Android users. Android users, though, spend over 110 million hours shopping for Cyber Week deals.
Interesting Cyber Monday Statistics From Surveys
The most interesting statistics are often gathered from surveys, and Cyber Monday is no different. Check out some of the most interesting statistics below!
- When it comes to Cyber Monday shopping, 70% of all shoppers plan on shopping online.
- 68% of those people plan on shopping online because it is more convenient for them, while 48% stated their reason was that there are more product options online compared to brick-and-mortar stores.
- 43% of US Cyber Monday shoppers stated they would rather pay $20 more to support small businesses rather than save $20 more by purchasing from a large retail company such as Walmart or Amazon.