Cyber Monday is fast becoming a more favorable time to shop during the holiday season and, according to MarketWatch, the digital shopping event is well on its way to securing its spot this year as the biggest online shopping day in U.S. history.
This year, Cyber Monday is expected to generate $7.8 billion in sales, up nearly 18% from last year, which would make it the biggest online shopping day in the U.S., according to Adobe Analytics. Last year, Cyber Monday went down in the history books as the largest online shopping day in U.S. history when online transactions reached a record $6.59 billion, a 16.8 percent increase from 2016 and more than the $6.2 billion in online sales from Black Friday.
Thanks to its focus on online sales, Cyber Monday is a more appealing shopping day as it is in line with consumers’ digital spending habits today, unlike Black Friday. Our recent poll with OpenX found that consumers have significantly less negative feelings about Cyber Monday. 73% of consumers think Cyber Monday is not overwhelming, compared to 60% who say Black Friday is overwhelming. Millennials are 30% more likely to shop on Cyber Monday than any other age group.
The holiday season in general can be particularly taxing, especially the hustle to buy loved ones the perfect gifts. Our survey with Amazon revealed that nearly 9 in 10 Americans (86%) experience stress during the holiday season, with one of the primary stressors among those individuals being what gifts to buy for people on their lists (58%). Cyber Monday, however, with its convenience of shopping online, has become a day when consumers prioritize and spoil themselves as the study found that 59% of Cyber Monday shoppers will be buying deals for themselves.