Were Your Customers Shopping Or Consuming This BFCM?
Here’s a fun fact:
A million seconds is 11.5 days.
A billion seconds is 31.7 years.
I mention that only to help put the holiday weekend shopping numbers into perspective.
Cyber Monday this year, consumers in the U.S. spent an estimated $12,700,000,000 on the internet.
That’s $3.3B more dollars spent “shopping’” than last year.
Or was it?
Shopify executives explain why they hold BF/CM weekend so sacred by defining shopping and consumerism as opposites.
In their book, consumerism is making buying as easy as possible. It’s hard work and certainly leads to a lot of buying but at the end of the day, you’re not actually shopping, you’re consuming.
In contrast, their definition of shopping isn’t when it’s as easy as possible, but rather when it’s as meaningful as possible.
An example of this is “drop” culture or limited edition runs. These events are the opposite of convenient but definitely fun and engaging.
I don’t think either is mutually exclusive but as a store owner it’s an important trend to be aware of that is undeniably gaining momentum.
Over the weekend:
Amazon Independent Sellers: $4.8B
Shopify Sellers: $5.1B