We’re familiar with the images – long lines of people huddled on the sidewalk outside big-box stores, viral footage of stampeding bargain shoppers. For consumers and retailers, these are the telltale Black Friday signs that the holiday shopping season has truly begun.
Black Friday versus Cyber Monday
This week, shoppers are getting ready both on and offline for one of the largest shopping events of the year. While Black Friday is undoubtedly a huge day for merchants, how does its sister holiday, Cyber Monday, compare?
Cyber Monday is the relatively new kid on the block. Still, it’s rapidly gained traction as another strong day for online deals and promotions. We wanted to see exactly how big a difference there was between the two shopping holidays last year, and understand if there are potential opportunities for retailers to optimize their spend.
Cyber Monday Wins by a Landslide
Large spikes in consumer engagement and advertiser spend are characteristic of these two holidays and last year was no different. In 2014, Black Friday saw clicks and budgets sharply spike upwards of 180% of November’s monthly average. This all resulted in 200% more conversions than an average November day for retailers before declining to near-average levels.
While Black Friday performance was impressive, Cyber Monday shot it out of the water. On Cyber Monday, clicks and spend rose to over 200% and 275%, respectively. Conversions rose an astounding 300% on Cyber Monday.
Two Days Are Better Than One
While Cyber Monday may be the online leader in retail sales this month, this doesn't mean that retailers should neglect Black Friday. Cyber Monday is exactly that, cyber and online, and shoppers who are buying in-store are a valuable segment that shouldn't be discounted. And, many of them are relying on online resources to augment their in-store experience. For retailers, both of these shopping days will be crucial for a successful holiday season, and attributing spend accordingly is a must for the successful marketer.