Cyber Monday 2017 Report
While numbers are hard to come by, Amazon has reported that Cyber Monday sales topped their record sales from Prime Day 2017 – the retail behemoth’s previous record day for sales. The good news for the world at large, and especially small businesses, is that there were over 140 million purchases made from small businesses who use Amazon as a sales channel over the course of the Thanksgiving weekend shopping holidays.
The fact that small businesses are seeing excellent gains through Amazon is especially encouraging. While retail giants like Walmart or BestBuy might be competing directly with Amazon, small businesses and manufacturers – like our clients – no longer have to worry about competing with a site that is out of everyone’s league. Small businesses now are afforded the opportunity to use Amazon as a viable sales channel.
Some of our clients use Amazon to sell one or two products from a catalog of hundreds, while others use Amazon as their main or only sales channel. Certainly, when comparing the costs of selling on Amazon to designing, building, and maintaining your own ecommerce site, Amazon has a ton of appeal.
The Largest Marketplace
Drawing from Thanksgiving Weekend numbers, we know that Amazon saw 54.9% of all online Black Friday transactions among Top 50 Retailers and 45% of all online transactions on Thanksgiving day. The next closest online retailer was Walmart, who saw 8.8% of all online transactions on Black Friday.
Let’s face it, you aren’t going to compete with Walmart, or BestBuy, or Target, or realistically any of the Top 50 Retailers, at least not on your own. Amazon offers small businesses the ability to have their products seen by more people than those that visited Walmart on Black Friday. By selling a product on Amazon, suddenly you can compete – in a manner – with Walmart and other Top 50 Retailers. If location is everything in the brick and mortar world, then location is certainly becoming more important online, and Amazon is winning the location race handily.
Overall, Cyber Monday saw $6.59 billion in sales, a 16.9% increase from last year and a new daily sales record for internet retailers. Mobile sales, which set records with nearly $2 billion across all devices, broke that record with over $2 billion in sales across all devices on Cyber Monday.