Today is forecast to potentially be the biggest online shopping day ever, with a massive proportion of sales coming directly from tablets and smartphones. Dubbed ‘Mega Monday’ or ‘Mobile Monday’ retailers are hoping that online and mobile consumers will take advantage of discounts and sales promotions. Visa are expecting consumers to spend a whopping £450 million through an estimated 7.7 million online transactions. This is up by 16% on last year, making today officially the biggest day of the year for online and mobile commerce.
Amongst the winners will be John Lewis and Amazon, with the latter expecting to process 3.5 million order requests today alone. The trend follows American retail culture, whereby prices in stores and online are slashed dramatically the day after thanksgiving. This evening is expected to prove to be the busiest time in terms of sales with the busiest peak time between 8pm and 9pm tonight.
Historically the biggest online shopping day is the Monday closest to the start of December, with consumers keen to ensure products arrive in good time before the holidays. Visa estimates that today customers will spend an enormous £5,208 per second. In the UK, online shopping now accounts for 2% of all transactions that Visa process and this number is increasing every year. This displays growing consumer confidence in terms of the safety of online and mobile shopping and retailers ability to deliver goods on time before the holidays.
Mobile plays an extremely significant role in today’s spending. Firstly, iPad’s and iPhone’s are expected to be amongst the hottest sellers online. Secondly, 42% of overall traffic now comes directly from mobile devices such as smartphones and tablets. This reflects huge shifts in consumer behaviour whereby people are increasingly using mobile devices to search information, make decisions about products and actually purchase via smartphone or tablet. The big winners will be the businesses that are optimised for mobile.
Having a desktop friendly website is no longer enough. There is still a huge lag in terms of the number of companies who are geared up effectively to sell products online in the build up to the festive break. The shift towards mobile has been even more tentative and the companies that are equipped to cater for mobile spending will appreciate the biggest benefits. Are you taking advantage of the festive mobile spending boom? If you’re a business, brand or marketer seeking to embrace the world of mobile and capitalise on the additional spending prior to the holidays, now is the time to act. In 2014 consumers will shift further towards mobile and within the next two to three years the majority of online spending will come from smartphones and tablets. Make sure your business is up to speed in the new year, get on board with mobile and contact Waracle today to discuss your requirements.