Last year was a record-breaking Cyber Monday for online sales reaching an astounding $3 billion, up 12% since 2015. In line with increasing sales Black Friday didn't fall too far behind with a 14% spike in sales however as a result the big blow out did manage to outpace Cyber Monday’s growth. Regardless of the net increase in sales over the weekend of discounts it was evident retailers were successfully pushing the Christmas shopping forward offering great holidays deals several days in advance.
Who are the Cyber Monday consumers?
Targeting the unseen has always been a concern. In effort to visualize the unseen we decided to analyse a sample of 115,000 users who published content containing relevant keywords or trending hashtags related to Cyber Monday in 2015 and then in 2016. As a result we were able to uncover a few insights ready to be actioned!
Insight: The data revealed the consumer community behind cyber Monday is predominantly young, with almost 60% of users ranging between the ages of 18 and 35.
Action: Identify potential influencers and social media channels of interest for this demographic.
Insight: Regardless of the assumption surrounding the influence of social networks on millennials, the data indicates the primary factor influencing purchases is in fact opinions of friends and family.
Action: Based on these insights, identified influencers and channels of interest launching an influencer focused campaign seems to be the ideal strategy to promote Cyber Monday deals or any other online activity.
Insight: In addition, it is also evident that the consumers in question are less likely to make impulsive purchases. They are informed consumers, who have a clear idea of what they want, what they are willing to spend and what brand to turn to.
Action: Promote offers/campaigns in advance in effort to secure their interest.
These are just a few examples of how valuable consumer insights have the power to inform marketing campaigns, attain higher ROIs and ultimately increase sales.