Cyber Monday Boomed Thanks To BOPIS
The totals are in for Cyber Monday 2019, and it was another monster year. In total we purchased $9.4B worth of items online the Monday after Thanksgiving, which is up 19% compared to $7.9B in 2018. Interestingly, Cyber Monday’s growth rate is still accelerating – this year’s 19% was actually higher than the 15% growth rate from 2017 to 2018. So much for the law of large numbers, right?
There were some predictable trends driving this year’s Cyber Monday haul, including more mobile purchases and higher average cart totals. It looks like we’re getting more comfortable making large purchases on our phones, as mComm fluency and security improves.
One other interesting driver this year was the BOPIS (buy online pickup in-store) phenomenon. BOPIS transactions were up 40% this year, and retailers who offered a BOPIS option converted at a 20% higher rate than those who only offered home delivery. Besides the instant gratification of picking up the item that day, consumers also feel more comfortable with the presence of a physical store for returns, in case what they ordered online isn’t exactly right.
I think it’s a safe bet that Cyber Monday sales will continue to grow like this into the foreseeable future.