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Cyber Monday is the biggest online shopping day of the year. And it’s not just for shoppers. Retailers large and small benefit from the post-Thanksgiving spending spree.
For shoppers, Cyber Monday is a chance to snag great deals on items they may have missed on Black Friday. For retailers, it’s an opportunity to boost sales and clear out inventory.
This year, Cyber Monday is expected to be the biggest ever. Adobe Analytics predicts that online sales will reach $9.4 billion, a 16.9% increase from last year.
Here are a few tips for shoppers and retailers alike to make the most of Cyber Monday:
For shoppers:
1. Do your research
Before you start shopping, take some time to research the items you’re interested in. Look for deals from multiple retailers, and read reviews to make sure you’re getting a good product.
2. Make a list
It can be easy to get carried away and buy things you don’t need when there are so many great deals available. To avoid overspending, make a list of the items you need or want before you start shopping.
3. Know your budget
It’s easy to get caught up in the excitement of finding a great deal. But it’s important to stick to your budget. Decide how much you’re willing to spend on each item, and don’t go over that amount.
4. Set a budget for your overall Cyber Monday shopping
Just like you set a budget for individual items, it’s also a good idea to set a budget for your overall Cyber Monday shopping. That way, you won’t be tempted to overspend.
5. Shop with a credit card that offers cash back or rewards
If you’re going to shop on Cyber Monday, you might as well get something back from your purchases. Look for a credit card that offers cash back or rewards points that you can use for future purchases.
6. Use a coupon code
When you’re checking out, be sure to look for a coupon code that you can apply to your purchase. There are many websites that offer codes for various retailers.
7. Check the return policy
Before you make a purchase, be sure to check the return policy. Some retailers have different return policies for Cyber Monday purchases, so you’ll want to make sure you know what the policy is before you buy.
For retailers:
1. Offer free shipping
One of the best ways to boost sales on Cyber Monday is to offer free shipping. Shoppers are looking for deals, and free shipping is a great way to attract their business.
2. Offer discounts
Another way to attract shoppers is to offer discounts on your products. Whether it’s a percentage off or a dollar amount, shoppers will be more likely to buy from you if they feel like they’re getting a good deal.
3. Run a sale
If you’re looking to clear out some inventory, consider running a sale. Cyber Monday is a great day to offer deep discounts on items that you’re looking to get rid of.
4. Offer exclusive deals
Make your deals even more attractive by making them exclusive to Cyber Monday. This will give shoppers an incentive to buy from you on this day, rather than wait for a better deal.
5. Create a landing page
To make it easy for shoppers to find your deals, create a landing page on your website that highlights all of your Cyber Monday offers
