Cyber Monday Is Big Business
Canada has stepped up to the plate in order to keep retail purchases in Canada during the U.S. Thanksgiving/Black Friday retail sales extravaganza. Cyber Monday was what emerged four years ago after e-tailers noticed consumers were looking for online deals during Black Friday.
Cyber Monday was expected to generate $1 billion in consumer purchases in North America. In response to this, Canadian retailers and e-tailers alike were offering bargain-basement prices for the 24-hour period starting at midnight on November 26.
It was predicted that 44% of Canadians would make a purchase on that day. BMO Financial Group anticipates that 50% of Canadians will purchase an item online as a Christmas or holiday gift.
It was estimated that more than 80,000 packages were processed by the Canada Post Central in Richmond, B.C. on Cyber Monday. On that day alone, they needed 25 extra staff members on board and 20 additional trucks delivering packages to the post office.
How does this impact your business? If you sell products or services online and have an active database, you too can plan to offer special pricing for Cyber Monday in 2013.
It may seem like a long way off, but if you start planning now for Cyber Monday as part of your marketing plan for 2013, you will be assured that it won’t slip by without you actively promoting your Cyber Monday sale well in advance. Smart planning can give your business the greatest leverage possible.
I expect next year the media will continue to hype Cyber Monday as an essential date on the holiday shopping calendar, so there will be plenty of opportunity to get some additional – and free – promotion in your local community.