07 Nov Are you ready for Cyber Monday?
It’s that time of the year again that we are all thankful for. Sales, promotions and stocking up on gifts for the holiday season to gift loved ones or treat ourselves. Let’s take a closer look at Cyber Monday.
Cyber Monday is a widely-known sensation and has become a big holiday shopping event. In 2016 Cyber Monday was the largest online sales day in history (Weinswig). Online sales have seen a significant increase with Cyber Monday dating back to 2005. “The name was catchy enough to prompt retailers to offer Cyber Monday sales. And that prompted online shoppers to make more of their purchases on Cyber Monday. By 2010, it was the biggest day of the year for online sales” (Isidore).
Retailers have seen significant sales growth on Cyber Monday. For example, statistics from “Cyber Monday Sales Hit a New All-Time Record in 2016” note Amazon.com, one of the largest online retailers with total sales of about $80 billion, said Cyber Monday was on pace for its biggest day ever.
Based on “2017 Holiday Retail Trends & Guide” from RetailMeNot, consumer spending is widespread between categories:
This effects all retailers from Target to Fry’s Electronics to Toys R Us to Neiman Marcus to Zales. Let’s not fail to mention grocers, for those restaurants that didn’t prepare for the influx of consumers, they’ll be going next door to HEB to stock up on last minute items. Where does this leave sellers and suppliers? Extremely busy and booming with business.
Tune up your EDI in preparation of Cyber Monday. Ask how to convert all your trading partners on one portal for ease of management. Manage your EDI process from start to finish and verify discrepancies with real-time data analytics. Be prepared this Holiday with booming retailer sales. As for suppliers, you will be nothing short of occupied but turn to DataTrans for reliable WebEDI to fulfill POs, send ASNs, and invoice within seconds.
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2017 Holiday Retail Trends and Guide. N.p.: RetailMeNot, Inc., n.d. PDF. www.retailmenot.com/corp/gui/acc2bd9/filer_public/45/4e/454e0020-f1ce-4c00-ae10-071e59296358/rmn-2017holidaytrendswp-091517.pdf
Isidore, Chris. “Cyber Monday: Life Imitating Hype.” CNNMoney, Cable News Network, 30 Nov. 2013, money.cnn.com/2013/11/30/news/economy/cyber-monday/index.html.
Wahba, Phil. “Cyber Monday 2016 Tops All Time Sales Record.” Fortune, 29 Nov. 2016, fortune.com/2016/11/29/cyber-monday-2016-sales/.
Weinswig, Deborah. “2017 Black Friday And Cyber Monday Predictions.” Forbes, Forbes Magazine, 27 Oct. 2017, www.forbes.com/sites/deborahweinswig/2017/10/27/2017-black-friday-and-cyber-monday-predictions/#586f812c5f14.