Building an online brand is slapped right in the face of many business owners, and in this episode, Zach and Alex breakdown how they have built one of the world’s fastest growing e-commerce clothing brands.
Cyber Monday 2020 was projected to bring more online revenue than ever due to the pandemic. Online spend was slated to increase by as much as 35% to $12.7 billion, which would make it the largest digital sales day ever.
Online sales increased at less than half the projected rate, growing 15.1%. Consumers still spent a record $10.8 billion on Cyber Monday 2020, making it shatter previous online shopping records.
This is a slowdown from Cyber Monday 2019‘s online sales growth, which jumped 19.7% year-over-year to hit $9.4 billion.
Online consumer spend grew the most on Small Business Saturday and Sunday, which saw 30.2% and 23.7% growth respectively year-over-year. The pandemic has fueled consumers’ support for small businesses, which have faced significant struggles this year.
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