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Will the Real Cyber Monday Please Stand Up
So, yesterday was Cyber Monday. Next Monday will also be Cyber Monday and so will the Monday after that and the one after that. The big story about Cyber Monday this year seems to be how not big Cyber Monday is when considered with the entire holiday shopping season. At DoubleClick Performics, we've been emphasizing that every Monday between Thanksgiving and Christmas is, in fact, a Cyber Monday.
We recently issued a news release highlighting what we consider to be the holiday shopping seasonal arc. DoubleClick Performics has found that, although weekend online sales might be slow, they pick up on Mondays when people return to work and research the items they didn’t purchase over the weekend. As the week progresses, consumers turn back to search and arm themselves with product information for weekend shopping.
Retailers however, have certainly gotten on board with this first Cyber Monday of the season and looking around it appears as though "Free Shipping" is the incentive of the day or a "Cyber Monday Sale" on specific products. It's fantastic to see retailers using Cyber Monday as online promotional fodder, but what can be done in the next few weeks as we approach Christmas?
While reviewing some of the press coverage on Cyber Monday this year, I stumbled upon a non-scientific CNN Money poll that stated 39% of respondents (at the time of this writing) plan to do most of their holiday shopping online. Add the 7% who plan to do all their shopping online and we've got almost half looking to do most or all their shopping online.
Most of these people probably did not complete their holiday shopping yesterday. If they are anything like me, they are waiting till the (almost) last minute. We encourage our retail clients to manage their budgets accordingly and prepare for the weekly and overall arc that takes place during the holiday season: allocate a larger budget in early December, don't set your caps too low, and adapt copy for to each phase of the season; early in the season focus on research, price and selection and late in the season focus on closing the sale as well as shipping/delivery issues.
Sales, so far, appear to be steady in spite of greater economic concerns. The jury is still out but search certainly remains a dynamic marketing vehicle that consumers continue to turn towards.
Alright, anyone for Cyber Tuesday? Wait! I mean, get back to work!
Posted by Stuart Larkins on November 27, 2007 2:40 PM