WASHINGTON – Incredible online savings starting in early November have changed the way that consumers are shopping on Cyber Monday. Online holiday shoppers this year are hoping to see deals on everything from cashmere sweaters to home décor before they decide to shop on Cyber Monday. According to the National Retail Federation’s Cyber Monday Expectations Survey conducted by Prosper Insights & Analytics over the weekend, 121 million (49.5%) shoppers plan to shop online on Cyber Monday, down slightly from the 126.9 million who planned to participate last year. NRF’s Thanksgiving weekend results showed that 103 million people shopped online over the weekend.
“Unlike ten years ago, we live in a world in which you can shop anywhere at any time. It’s no longer about one day, but a season of digital deals, and savvy online shoppers are ready to see what exclusive promotions retailers have in store for Cyber Monday before they checkout,” NRF President and CEO Matthew Shay said. “Shoppers have seen promotions roll out for the past several weeks, but if the price is right on Cyber Monday, they’ll definitely show up ready to spend.”
According to the survey, 29.6 million (24.4%) consumers said they will use their mobile device to shop on Cyber Monday, while eight in 10 (80%) said they will use their home computers to shop online. Mobile retailing continues to grow as more and more consumers rely on their smartphones and tablets to research products and find gift ideas.
In 2014, Shop.org’s eHoliday survey of retailers showed that 69.1 percent polled said they invested in optimizing their mobile websites prior to the holiday season.
“Retailers are prepared for a mobile-driven day of shopping and have optimized the mobile shopping experience to make Cyber Monday shopping easier and more dynamic for their customers,” NRF Senior Vice President and Shop.org Executive Director Vicki Cantrell said. “In addition to a more fluid experience on retailers’ websites and on mobile, consumers can expect to see free shipping offers and better-than-ever programs for buy online and pick-up in store for those omnichannel shoppers.”
Seasoned online shoppers know that deals are running around the clock and 42.4 percent of Cyber Monday shoppers plan to shop online in the early morning, while a third (33%) will shop in the late morning. Many consumers will wait until their lunch hour to shop (16.6%) and more than a quarter will wait until early afternoon (29.5%).
“Consumers watch for deals starting in the days before Thanksgiving and they save a bit of their budget to shop the deep discounts offered by their favorite retailers on Cyber Monday,” said Prosper’s Principal Analyst Pam Goodfellow. “With so many consumers relying on their smartphone for everything from travel to email, the convenience of enhanced mobile shopping appeals to consumers and has changed who and where people shop. Knowing that retailers reserve some of the deepest discounts and deals on shipping for this day, consumers will be checking in throughout the day to see how the deals are shaping up.”
Shop.org Reveals Retailers Participating in CyberMonday.com Deals of the Hour on Cyber Monday
Shop.org’s CyberMonday.com, which features holiday promotions and special savings from hundreds of retail companies, was created by retailers as a one-stop shop for consumers looking for the best Cyber Monday promotions. In addition to hundreds of special offers, some of which will be exclusive promotions available only on the site, CyberMonday.com will feature a Deal of the Hour tomorrow, highlighting a different retail promotion every 60 minutes. Retailers participating in the Cyber Monday Deal of the Hour include Under Armour, Bose, Home Depot, Apple, and Tommy Hilfiger. Consumers can expect to see free shipping deals, percentages and dollars off and free gifts with purchase.
About the Survey
The survey, conducted November 27-28 by Prosper Insights & Analytics for NRF, polled 4,281 consumers and has a margin of error of plus or minus 1.5 percent.
Prosper Insights and Analytics delivers executives timely, consumer-centric insights from multiple sources. As a comprehensive resource of information, Prosper represents the voice of the consumer and provides knowledge to marketers regarding consumer views on the economy, personal finance, retail, lifestyle, media and domestic and world issues. www.ProsperDiscovery.com
NRF is the world’s largest retail trade association, representing discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and Internet retailers from the United States and more than 45 countries. Retail is the nation’s largest private sector employer, supporting one in four U.S. jobs – 42 million working Americans. Contributing $2.6 trillion to annual GDP, retail is a daily barometer for the nation’s economy. NRF’s This is Retail campaign highlights the industry’s opportunities for life-long careers, how retailers strengthen communities, and the critical role that retail plays in driving innovation. nrf.com
Article By: Treacy Reynolds, NRF
November 29, 2015