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NEWSTop Cyber Monday 2023 Retail Lessons for Footwear Brands

Top Cyber Monday 2023 Retail Lessons for Footwear Brands

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Reflections on Cyber Week 2023

Meghan Stabler, senior vice president of marketing at BigCommerce, shared insights into Cyber Week 2023. She highlighted the unprecedented $38 billion in sales from Thanksgiving to Cyber Monday, marking a 7.8 percent increase from the previous year. BigCommerce retailers saw a 10 percent year-over-year increase in gross merchandise value, driven by larger cart sizes and a rise in the total number of orders.

Influx of Holiday Shopping

The influx of holiday shopping despite a shaky economy can be attributed to deep discounts and flexible payment options like buy now, pay later (BNPL). Data shows that 55 percent of consumers capitalized on early holiday deals, and BNPL use hit an all-time high on Cyber Monday, driving $940 million in online spending.

Lessons Learned from Cyber Week

The key takeaway from Cyber Week is that consumers are savvier than ever. They expect discounts, free shipping, and returns, and are skilled at using technology to hunt for deals and compare prices in real-time. Retailers need to understand the cost-conscious consumer’s behavior and capitalize on loyalty programs to drive sales and collect more first-party data.

Advice for Retailers

As retailers approach the remainder of the holiday shopping season, it’s essential to continue offering discounts, free shipping, and leveraging loyalty programs to drive sales and collect valuable consumer data for future marketing efforts.


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