The name of the game for Cyber Monday sales is simple: Big promotions and lots of them.

Consumers have already demonstrated they are in the mood to shop online — provided the deals are there. Online sales boomed on Black Friday, reaching a record $9.8 billion. That’s a 7.5% increase from the Friday after Thanksgiving last year, according to Adobe Analytics.

And that growth continued into the weekend with sales up through Sunday morning by about 9%, according to ecommerce software vendor Salesforce.

Cyber Monday sales

Consumers are buying. So far though four days of Cyber 5 shopping, online order volume is up 8%, with the average order value of $110 increasing by 3.5%.

Online shopping is growing more than three times faster than in-store sales. And a big reason is mobile, Salesforce says, with about 80% of orders through Friday coming through mobile commerce.

Going into Cyber Monday, shoppers are really looking for the big discounts, and retailers are well aware of that intention says Rob Garf, vice president and general manager of retail and Salesforce.

“The opportunity for retailers to offer their biggest promotions is now, but the window will close fast,” he says.

Various retailers were trying various strategies to lure in online and offline shoppers for Cyber 5 shopping. Target Corp is offering two days of Cyber Monday deals at up to 50% off for Monday and Tuesday of this week. Meanwhile, Amazon.com is offering deals on select items at up to 80% off.

Amazon ranks No. 1 in the Top 1000. The database is Digital Commerce 360’s ranking of North America’s online retailers by web sales. Target is No. 5.

The Cyber 5 period, which goes from Thanksgiving to Cyber Monday, will grow about 5.4% in 2023 and generate sales of about $37.2 billion, Adobe Analytics projects.

But Cyber Monday will see the most growth over the weekend at 6.1% annual growth and $12 billion in revenue, according to Adobe Analytics. Buy now, pay later (BNPL) growth remains strong as consumers rely on the payment method to spend more than ever this holiday season. Cyber Monday also will bring in the most spent ever in a day online using BNPL, at $782 million, says Adobe Analytics.

But in the end, it will be which web merchants target Cyber Monday shoppers with the best and deepest discounts at just the right time that will generate the most sales.

“It’s a true game of retail chicken,” Garf says.

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