Approximately two weeks ago Cyber Monday took the online retail space by storm as the industry saw record sales of approximately $1.5 billion in a single day. While this online holiday is still relatively new, an older one by the name of “Green Monday” (the second Monday in December, the 10th of December this year) seems to be making a bit of a comeback.
While Cyber Monday is more associated with people shopping after their Black Friday efforts, Green Monday was once known as the last day to shop in order for consumers to get their gifts delivered on-time. Although Green Monday is still important in the eCommerce industry, consumers now put more trust in on-time deliveries from online retailers and will certainly continue to place holiday orders all the way through “Free Shipping Day” (December 17th).
Cyber Monday usually receives the glamour of being “the busiest online shopping day of the year” but in reality, according to comScore, this has only recently been true. In previous years, Green Monday was traditionally the day where online sales peaked during the holiday season, with a continual build-up in sales starting after the Thanksgiving weekend. Only recently, due to the intense promotion, has Cyber Monday taken the title as the top online shopping day of the year. Green Monday is now usually one of the top three online shopping days of the year.
To put it succinctly, Green Monday is the day that traditionally kicks off the biggest online shopping week of the entire year. Usually the first week of December also posts strong sales, but this year online shopping in this week grew only 9% year-over-year to $6.44 billion, the only single digit growth week of the holiday season so far.
So how did Green Monday do this year? Let’s take a look at the results…
At $1.28 billion, Green Monday currently takes its place as the third biggest online shopping day of 2012, only behind Cyber Monday ($1.47 billion) and Tuesday, December 4th ($1.36 billion). Once again, Green Monday also saw double-digit growth, increasing 13% from last year.
In conclusion, holiday sales as of Green Monday (the first 40 days of the holiday season) have already reached $29.3 billion, a 13% increase year-over-year. This dollar figure will only go up in the coming days. Currently the 2012 holiday season has almost surpassed the total from the entire holiday season just two years ago ($32.6 billion) and looks very likely to surpass the mark of $37.2 billion from last year. In fact, should the growth rate of 13% hold steady throughout the rest of the holiday season, the first ever $40 billion holiday season in the history of online retail ($42.0 billion to be exact) would take place in 2012. Of all the eCommerce records broken this holiday season, this one may be the best of them all!