Finally, an infographic that presents a historical analysis of the biggest holiday shopping days in superb detail. You know the most famous: Black Friday and Cyber Monday, popularized by Amazon, Best Buy, and now practically every online retailer of electronic items. And the past few years has given birth to the “Biggest Day,”–the single most profitable day for online sales.
This graphic examines the amount of time spent online during these three paramount shopping days. Before it analyzes that though, it describes the nature of the holidays:
Black Friday: This is the day right after Thanksgiving and is considered to be one of the busiest days of the year for online traffic. Black Friday marks the precipice of the insane holiday shopping season.
Cyber Monday: This is the first Monday after Thanksgiving. Many people are at work on this day, but for whatever reason, are able to do their holiday shopping in their office. At least that is what studies show.
The Biggest Day: This is the day— the most profitable day for online sales, and each year, a new record is set as Americans are spending more and more during the holidays despite the economic slump.
The amount of money spent online over the past five years might make you stop and say, “Recession? What recession?” Since online holiday spending has increased year after year since 2005, you might find it odd that we are in fact in a recession. Well, the graphic points out that the late 2000’s recession that began in 2007 actually ended in June 2009, so clearly, we are at the end of the slowdown period and again on the cusp of economic growth. 2010 was a significant year because, for the first time, Cyber Monday and the Biggest Day became one in the same, and unsurprisingly, online sales passed the one billion mark for the fist time in world history. Bit by bit, the amount of money that people are throwing into online retailers (which hurts local economies), is increasing, and if the chart is any indication, online spending will utterly explode in 2011, since many predict that we will be back in economic boom times by the final quarter of that year.
So, here’s a question for you? To what extent do you think local economies are actually hurt by online retailers like Amazon? Do you think that smaller online retailers with a handful of employees are significantly impacting the livelihood of people who can’t find jobs in their local communities?
This infographic has been provided by Volusion shopping cart software, an ecommerce software company that helps clients open their online business.