Cyber Monday set to be busiest online shopping day

Online retailers in the UK are getting set for Monday, December 2, which is being predicted as the busiest online shopping day of the year, according to Visa Europe. The research is predicting that 450 million pounds will be spent in

one day and that online Visa transactions will top 7.7 million, up 16 percent on 2012.

The dramatic increase is being accredited to a “significant change” in consumer shopping habits in recent years with more than 25 percent of all spend with Visa now being online, and that more shoppers are using their mobile devices to search and purchase whilst on the go. IMRG, the UK's industry association for online retail, has revealed that mobile now accounts for 27 percent of online spend, a rise of 2,000 percent since the start of 2010.

UK retailers prepare for Cyber Monday

Visa Europe’s data shows that the busiest online shopping day historically falls on the Monday closest to the beginning of December, due to the combination of pay day for the majority of consumers falling on the last Friday of the month and a weekend spent browsing the shops, results in shoppers logging on to buy their gifts online on the subsequent Monday.

Jeremy Nicholds, director of commercial development at Visa Europe, said: "UK consumers' love affair with online shopping will reach its peak on Mega Monday when we predict an average of 312,500 pounds is expected to be spent online every minute."

But due to consumers changing shopping habits and the increase in mobile spend, analysts are also predicting that this year may well be the last ‘Mega Monday’. Department store John Lewis is expecting to see traffic on its website reach its annual peak on Sunday, December 1, as well as seeing an increase on the Monday. Both Visa and John Lewis are predicting that slots between 8 and 9pm on both the Sunday and Monday will be the busiest periods.

Mark Lewis, online director at John Lewis added: "Our customers' shopping habits have changed over the past few years, and our peak time for browsing and shopping on johnlewis.com is now Sunday evening.

“With shoppers becoming more comfortable when purchasing via mobiles and tablets, coupled with better connectivity and the rise of smartphones so people can browse online through the day, it's not surprising the way we shop has changed."

However, according to analysis by virtual fitting room provider Fits.me, predictions for Cyber Monday are wide of the mark for clothing retailers and that actually their busiest shopping day will be a few days later on Thursday, December 5.

The virtual fitting room service is stating that the Thursday will result in 29 percent more site visits when compared to the rest of the Christmas shopping period until December 24. Adding that fashion retailers will see a 28 percent increase in conversions, 60 percent increase in transactions and a 7 percent increase in average order value.

Heikki Haldre, co-founder and chief executive for Fits.me, explains: “The idea of Cyber Monday is fun, but it’s also a bit of a fantasy because different sectors actually experience a variety of ‘busiest shopping day’ dates.

“The shiny, red-nosed reality is that historical data from our range of clients proves that Thursday 6th December will be this year’s Big Day for clothing retailers.”

Image: John Lewis website