Cyber Monday feels like the Super Bowl of e-commerce world. It's certainly no secret that it's a big day for both retailers and online shoppers. According to a Shop.org survey, conducted last weekend by BIGresearch, 84.6 million consumers said they plan to shop online from home or at work today, up from 72.0 million in 2007 and 60.7 million in 2006. With more shoppers scouring the sites, retailers are expected to up their online ante today: 83.7% of retailers have planned a special promotion for Cyber Monday, up from 72.2% last year.
Amazon.com is among the retailers to lead the pack each year with its Cyber Monday deals (and its holiday specials in general), but what's uniquely enticing about its offerings this year is its "Lightning Deals" incentive, a business model that features discounted items for a short-time period (usually one each hour). This strategy, which creates the idea of urgency, has become increasingly popular on the Web, thanks to sites like Woot.com and its one-deal-a-day business model. It cultivates a loyal customer base that eagerly returns to the site to check up on daily deals.
And, judging by the sold-out notices on the "Lightning Deals" feature today, it seems like it's working for Amazon.com too.
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