More and more online businesses are extending the Black Friday sales spree into Cyber Monday, when shoppers from around the world go hunting for the best deals online.
The online consumer rush is such that, despite inflation, e-commerce transactions around this time of year skyrocket in Spain and Latin America.
Are you ready for the next cyber avalanche? Let’s take a look at what all this Cyber Monday craze is all about and how to take advantage of those visits to your business.
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Table of Contents
What is Cyber Monday?
How to take advantage of Cyber Monday in your business
Your sales flow continues after Cyber Monday
What is Cyber Monday?
Cyber Monday is an online event held on the Monday after Black Friday to boost e-commerce. Cyber Monday was an idea first proposed by Ellen Davis, vice president of the retail trade association NRF, in Shop.org magazine.
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The first Cyber Monday took place on Monday, November 28, 2005 in the United States, taking advantage of the popularity of Black Friday, a date that, since 1975, inaugurated the Christmas shopping season for Americans after Thanksgiving.
This day of sales quickly became popular cost per lead generation in the rest of the world until it ended up becoming a key day for e-commerce, second only in interest to Black Friday and Christmas.
Influence of Cyber Monday in Spain
The first Spanish Cyber Monday was celebrated in 2011 and ended up becoming a significant date for online commerce. In 2020, 85% of Spanish consumers were already aware of it ; its popularity only surpassed by the United Kingdom and Germany in Europe.
Today, this day is considered an extension of Black Friday, as many online stores take advantage of Black Friday, or even the days leading up to it, to launch their promotions. That is why there is more and more talk of “cyber week”.
Despite inflation and the drop in average spending at this time, e-commerce has continued to grow in recent years with a greater number of online purchases.
As a curious fact, Black Friday/Cyber Monday 2022 even helped to increase sales in physical stores by 83% in some e-commerce stores. The maximum sales peak took place at 11:00 p.m. on Friday, November 25 in Madrid, Barcelona and Seville, especially in the clothing and accessories categories.
Influence of Cyber Monday in Latin America
Latin American Cyber Monday has been growing in popularity, especially in countries like Argentina and Chile, followed by Colombia and Mexico.
It is not surprising if we take into account that, today, Chileans, Mexicans and Argentines are the Latin American consumers who spend the most per year purchasing through the Internet .
Argentina
Cyber Monday is a special date for Argentine online commerce, which in 2022 increased its turnover by 47% compared to the previous Cyber Monday .
Any business that wants to promote itself alb directory using words related to Cyber Monday must officially register with the Argentine Chamber of Electronic Commerce (CACE), which provides the logo and official identifiers.
Without a doubt, social media is playing a very strong role in e-commerce here, to the point that 5 out of 10 Argentines make their purchases through social channels . Mainly through Facebook and Instagram. The winning products? Fashion and sportswear.
Mexico
Here, Cyber Monday has been gaining popularity to the point of becoming an event as eagerly awaited as Buen Fin and Black Friday, which is logical if we take into account its proximity to the US and that Christmas is just around the corner. It is obvious when we see the demand for toys and children’s items increase at this time in Mexico.
The growth of e-commerce in the Aztec city is evident if we take into account that, in 2022, it was already positioned behind Brazil as the second most important digital market in Latin America , with 52 million online consumers who shopped at least once a month.
Interestingly, Liverpool is the digital store preferred by Mexicans, followed by Amazon and Mercado Libre.
Chili
According to the Santiago Chamber of Commerce, the event organizer, Cyber Monday 2022 closed with nearly 400 million USD . It is not surprising when the Chilean consumer spends 608 USD on digital purchases every year, a figure well above the rest of Latin American economies.
Here, the event has become a four-day event in October, with such popularity that it has prompted the celebration of CyberDay in May, with technology products as the favourite category at this time.
Around 700 stores and companies are taking part in the Chilean event to meet the demand of digital consumers, who are opting for clothing, footwear and electronics, in that order.
How to take advantage of Cyber Monday in your business
Cyber Monday is the perfect opportunity to extend the Black Friday weekend. Not only to increase your turnover, but also to attract new customers, clear inventory and promote your brand to a huge audience with the intention of buying.
Where do we start the setup?
1. Strategically prepare your stock
If you already know which are your best-selling products, make sure you have enough stock to meet demand . However, it would be best to start selling those products with a higher price or those with a lower discount on Black Friday.
The trend is clear: shoppers spend more on Fridays and reserve the following Monday for smaller purchases with higher discounts.
2. Start your promotions early
The digital consumer starts looking for offers and creating their shopping list well in advance. Why wouldn’t you take advantage of the opportunity?
Preparing a multi-channel marketing strategy takes time in terms of creating specific content or designing banners, ads, landing pages, and more. Especially if you don’t have a marketing tool to manage your campaigns .
3. Provides very clear information
Remember that the texts of your promotion are binding, as indicated by the OCU. Therefore, make sure to make the purchase conditions very clear if an offer has a limited duration or if it only applies to certain products. If the details are confusing, you will most likely lose that sale.
Regarding the use of the client’s personal data, remember to specify legitimate interest in its processing (direct marketing and security purposes).
4. Anticipate the avalanche of queries
Do you have enough staff to handle all calls and queries? Does your team have the resources to respond quickly and manage requests coming in from all channels ? There’s no better time than now to use chats to streamline customer service and automate the purchasing process.
It is clear that the faster and better you respond, the more sales you will make.
1. Optimize your website for mobile devices
When you see that 75% of Spaniards are buying via their smartphone (the highest percentage in Europe) and the Latin American boom in the use of mobile phones for online shopping, everything points to the fact that your store should be prepared to offer a pleasant and simple shopping experience that invites these users to return to your site.
Remember to check the performance of your pages in advance, both on desktop and smartphone.
2. Take advantage of social networks
Do you remember the popularity of Facebook and Instagram in e-commerce in Argentina? Well, in Spain, online shopping already represents 28% of the total.
It’s about taking advantage of this whirlwind of buyers hunting for the best price to give visibility to your business on the networks and attract them to your online store . You can publish a small preview of your offers to generate interest, customer testimonials or gift ideas, as well as exclusive discounts when it’s time to buy.
Attract more traffic from search engines
Although positioning the best keywords requires starting your SEO strategy months in advance, what you can do a few weeks in advance is optimize your best-positioned pages that bring you the most sales .
Make sure your page titles and descriptions are clickable in search results, too. Even if your competition ranks better than you, this will help you get that click.
Take advantage of email marketing
The profitability of email marketing is indisputable when 31.4% of Spanish companies claim that 10% of their income comes from this channel (Statista). Especially, due to the low cost of an email campaign and the possibility of targeting different customer groups with the most relevant message.
In addition, email allows you to communicate the most personal and intimate side. Of your brand to establish a closer bond with your leads and customers. Email campaigns are sent throughout the year, but they become even more important during the holidays .
Invest in the most appropriate advertising for your business
Advertising is one of the fastest and most scalable ways to drive traffic to your digital store. Depending on your goals and audience, you have platforms like Google to attract. Search traffic or social media to generate brand awareness, showcase your offers. Or attract back users who have already visited your online store.
Once you know what sets you apart from the competition, communicate it in the best way possible.
10. Simplify and optimize the purchasing process
Evaluate your purchasing process and see what you can optimize. They improve your conversions , especially if the number of abandoned carts is high.
What can you do? Make the process as simple as possible, offer multiple payment methods, optimize site speed, use clearer. More compelling texts, or reduce purchase anxiety with detailed information on prices, guarantees, and shipping costs.