CYBER MONDAY’S FINAL TALLY: We’re starting to see some final sales numbers from Cyber Monday and the entire five-day Thanksgiving shopping window. Based on the numbers in the attached Chain Storage link, the results were impressive to say the least. Cyber Monday sales totaled $6.6B this year, which was +17% over last year’s $5.6M. Over the five days from Turkey Day through Cyber Monday online sales in the US totaled a whopping $20B. And mobile was the star of the show, driving 31% of the total sales – with 22% coming from smartphones and 9% coming from tablets. Perhaps the most mind-blowing stat of all is Adobe’s prediction that this year total holiday season eCommerce sales (Nov-Dec) will top $100B for the first time ever. With all this online ordering Santa might not even need a sleigh in a few years!
AND THEN THERE’S “SINGLE’S DAY”: Before you get too amazed by the US Cyber Monday sales totals, try this one on for size. According to The Verge in the attached link Alibaba (by itself) sold $25.3B in merchandise within China on Single’s Day, which is celebrated on November 11th. Think about that stat for a minute – that’s 20% more than the entire US eCommerce total over the five day Thanksgiving window, and we’re just talking about sales from one company on one day! Obviously there are several times as many consumers in China compared to the US, but it’s still a shocking number. Alibaba’s 2017 total, which was +40% vs. 2016, was driven by some wacky one-time offers like a lifetime supply of baiju liquor for $1,672 USD, but only for single people (get it?) I actually think the married folks might need the booze more, but I’m just a sample size of one. Regardless of the tongue-and-cheek offers Single’s Day’s sales results demonstrate just how much further eCommerce can grow in the US and around the world.
WEEKEND MUST READ – THE AUTO APOCALYPSE: Finally this week I want to leave you with a homework assignment. When you have a few quite minutes this weekend read the attached op-ed piece from GM’s former Head of Product Development Bob Lutz, which first appeared in Auto News on November 5th. This article sparked a firestorm of comments throughout the auto industry because of the audacious predictions Mr. Lutz makes. Without stealing too much of his thunder, consider a day within the next 15-20 years when it will be illegal for humans to drive because autonomous driving cars are so much safer than we are. Or how about the extinction of auto dealers as we know them, with comparisons to the last horse dealers 100 years ago. It doesn’t matter if you work in the auto industry or not, this one affects everyone. Almost all of us use a car to get from point A to point B, and the auto industry is the largest product sector in our economy. So any change of this scale will have life-altering consequences for everyone. Granted there’s no guarantee Mr. Lutz’s predictions will come true on the timeline he suggests. Since this article’s publication there’s been a raging debate around all sides of the future of transportation. Give it a read and let me know what you think.
Have a great Friday (and weekend) guys!
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