Did you brave the cold this past Friday to fight for your life in the droves of crowds in quest for the best bargains in town?
Yeah. Me neither.
For me personally, Black Friday has never really held my fancy, yet the idea of Cyber Monday has always been appealing.
I mean really?!? Why not spend a good portion of the working hours on today moving through the eCommerce matrix in search of the perfect gifts at the perfect price?
And the bonus? You can even have all those precious treasures delivered right to your doorstep with an option to even have them wrapped for a small additional charge.
The Disruption of Holiday Shopping Behavior
It was back on November 21st, 2005 that Shopping.org that first officially coined the phrase Cyber Monday.
Over the past 7 years, improvements to the online shopping experience and enhancements to the security of online transactions has made Cyber Monday a meme that has steadily spread and engulfed the U.S. consumer culture.
A recent study conducted by social advertising company Radium One and in partnership with Marketing Profs reports that nearly 57% of Americans are expected to shop from the comfort of their own computer and mobile screens this Cyber Monday. Shopping revenues are projected to gross over $1.42 billion dollars in online transactions.
To put this in perspective, Google reported that for the 2011 holiday season that only 43% of holiday shoppers planned to do the majority of their shopping by Cyber Monday. This increase of 14% in just one year shows that cultural acceptance and user adoption of online shopping behavior continues ti build strong momentum.
One also has to notice the stark correlation between the smart phone penetration in the U.S. and increases in online shopping behavior. See the recent chart generated from Google’s ongoing Our Mobile Planet study below:
Google also found that 82% of holiday shoppers say that online research will significantly or moderately impact which retailer they choose to shop. Approximately 77% of holiday shoppers turned to their tablet device for online shopping, while 54% turned to their smart phones.
According to Google’s latest study into online shopping behavior, about 85% of consumers will shop for a gift by starting on one device and finishing on another.
Online Holiday Shopping: Key Takeaways for Marketers on Shifts in Consumer Behavior
The folks at Google and their research partners at Ipsos OTX believe that the online and offline shopping experience is blurring for consumers and has even gone as far to create an eBook on the subject entitled Winning the Zero Moment of Truth. If you’re not up to speed on this work, take the time this holiday season and familiarize yourself with how Google believes shifts in consumer behavior will change the way we market products and services.
In the case of Black Friday VS Cyber Monday, we know that today that while Black Friday still reigns supreme in the the news media that surrounds the holiday season, consumers are now behaving differently, using the coveted shopping day to gather first hand information about products, and then waiting to buy them online and from the comfort of their homes.
Is this you?
Did you make it out on Black Friday this year? How did you behave? Are you shopping today as well?
Tell me about your consumer behavior in the comments, okay?