You’ve probably heard it more than once that Cyber Monday delivered record single-day sales this year with almost $3B+ in online sales and 120M+ shoppers – the biggest day for online sales for US companies. This year, Black Friday brought a 14% increase in online spending with sales around $4.45B, coupled with Cyber Monday’s impressive results, it’s safe to say that more people are online this year for the big sales and that retailers are effectively reaching their audiences with promotions and deep discounts.
We’ve taken a close look at some of the key trends we’ve seen and what we’ve learned:
People are using their mobile devices for more than just browsing
Shopping behavior is evolving once again as retailers invest more heavily in the mobile experience and as consumers become more comfortable with the idea of using their devices for more than just research. Surprisingly, tablets and mobile phones accounted for 40% of online traffic and about 19% of online sales during Cyber Monday – a 65% increase from last year during the same time period.
Shoppers are doing their homework and know exactly what they’re looking for
Consumer this year demonstrated newfound efficiency when it came to finding the right items. Whether it was early promotions of the sales on retail sites or the various ways to research and compare their favorite items, shoppers seemed to know exactly what they were looking for and right where to find it.
We noticed a similar trend within our own client base with conversion rates increasing an average of 194% for those who interacted with filters over the Thanksgiving weekend and a whopping 414% on Cyber Monday when compared to pre-holiday shopping.
Black Friday and Cyber Monday are becoming indistinguishable
You can read through all the news and coverage about Black Friday and Cyber Monday sales and see that there’s very little difference these days between the two. Promotions were steady throughout the week leading up to Black Friday, and many sales extend beyond just Cyber Monday. It should really be called the Cyber 5; five days of endless discounts and flashy sales that result in the some of the most important revenue streams for retailers.
Even more, the Cyber 5 create a steady stream of online traffic to many sites and Edgecase customers are no exception. We did not track any significant dip in our customer’s online traffic number, despite a heavy increase in shoppers online late Thanksgiving week. In fact, we saw 20% more traffic on Cyber Monday vs. Black Friday and saw continued momentum in revenue per visitor across the Edgecase portfolio.
So, there you have it. The world of retail survived another Black Friday/Cyber Monday and this one was for the record books. With 19 days left before Christmas it’s important that retailers understand how their shoppers are shopping. Edgecase intelligence drives more than just enhanced navigation, we help provide Merchant and Marketing teams the data they need to reach their audience with effective campaigns and rich product data that keep shopping carts full and the shopping journey successful. Not to mention, our tools have the potential to positively impact millions of dollars in sales.
Don’t forget to talk with us about how we can help you plan for an even bigger holiday 2016.