A Record-Breaking Holiday Season
Adobe Analytics has announced online shopping totals and pegs the spending at $126 billion dollars. From November 1st to December 31st consumers spent around 2.1 billion a day. Mobile shopping has continued to dominate in “window shopping” with 51% of the visits, however, they only account for 34% of revenue. To read more about the conclusion of 2018 read below!
Holiday shoppers spent record-breaking $126 billion online in 2018
Mobile drove more than half of holiday visits to retailer sites, delivered one-third of the revenue.
Robin Kurzer on January 15, 2019 at 2:19 pm
Holiday shoppers spent more money online than ever before in 2018, according to a 2018 holiday wrap-up out Tuesday from Adobe Analytics. Consumers spent $126 billion from Nov. 1 through Dec. 31, averaging $2.1 billion a day — an increase of 16.5 percent over last year.
Adobe’s report is based on more than 1 trillion visits to U.S.-based retail websites, combined with product and transaction analyses.
Mobile conversion rates are still lower, but revenue is increasing. Consumers used smartphones for more than half (51 percent) of their online visits, but mobile was responsible for less than one-third (31 percent) of the revenue. Desktop accounted for 40 percent of visits and 60 percent of revenue; tablets made up the remaining 9 percent of visits and revenue.
Mobile revenue increased 34 percent over last year’s holiday shopping season.
Lower conversion rates and average order values on mobile are nothing new, but this statistic, coupled with Adobe’s observation that BOPIS (Buy Online, Pick-up In Store) baskets contain fewer, less expensive items than the average cart, suggest that retailers look at opportunities to for improving mobile conversion flow as well as up-selling during in-store pick up. BOPIS revenue jumped 50 percent from the previous year.
Cyber Weekend revenue up 20 percent. Many shoppers waited until the five-day Thanksgiving-Cyber Monday weekend to shop, spending an average of 40 percent more in the days after Cyber Monday than in the three weeks preceding it. But once the holiday weekend arrived, consumers opened their wallets wide, driving $24.2 billion in sales — a 23 percent increase over last year.
Thanksgiving, Black Friday and Cyber Monday all broke records with Cyber Monday topping out with $7.9 billion, nearly 20 percent (19.3) more than last year. The most profitable daypart of Cyber Monday occurred during hours between 7 and 11 pm PST, with $2 billion spent in that four-hour window.
Why you should care. Even a record-breaking holiday season has room for improvement. Taylor Schreiner, director of Adobe Digital Insights, said that the disparity between mobile revenue and visits “reinforces the opportunity for retailers to improve mobile conversion rates and increase smartphone revenue.”
Savvy marketers will also revisit their mobile strategies to ensure that they’re leveraging new trends like BOPIS, which require a seamless online, offline experience. And to encourage consumers to shop earlier than Cyber Monday, savvy marketers may be able to lure sales with “early season” promotions and discounts.
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