SurveysDec 04, 2024
In-Store Shopping Outpaced Online Over the Holiday Weekend, Says NRF SurveysDec 10, 2024
Jewelry Among Top Sellers on Cyber Monday, Says Adobe
An Adobe Analytics report explored the rise in mobile shopping, the popularity of Buy Now Pay Later options, and peak shopping hours.
A report by Adobe Analytics shared the top takeaways about online shopping over “Cyber Week” and what that means for the rest of the holiday season.
San Jose, Calif.—The holiday season is in full swing, with nearly 200 million shoppers getting a start on their holiday lists during the five-day period from Thanksgiving to Cyber Monday.
In-store shopping outpaced online shopping during this time, according to the National Retail Federation’s annual survey, but online sales remain a popular draw for consumers.
In a holiday shopping trends report, Adobe Analytics shared insights from the five-day period and what it means for the holiday season ahead.
During the five days from Thanksgiving to Cyber Monday, also known as Cyber Week, shoppers spent $41.1 billion online, up 8 percent year-over-year.
The period was driven by record spending online on Thanksgiving (up 9 percent to $6.1 billion), Black Friday (up 10 percent to $10.8 billion), and the weekend of Nov. 30-Dec. 1 (up 6 percent to $10.9 billion), which includes Small Business Saturday.
Cyber Monday is still the biggest online shopping day, with consumers spending a total of $13.3 billion, up 7 percent year-over-year and exceeding Adobe’s forecast of $13.2 billion.
“While Cyber Monday remained the season’s and year’s biggest online shopping day, year-over-year growth was stronger on both Thanksgiving and Black Friday,” said Vivek Pandya, lead analyst at Adobe Digital Insights.
“Early discounts were strong enough that many consumers felt comfortable hitting the buy button earlier on during Cyber Week, with Cyber Monday becoming ‘last call’ for shoppers to take advantage of big holiday deals.”
The peak shopping hours on Cyber Monday were 8-10 p.m., said Adobe, with shoppers spending $15.8 million every minute.
Larger-than-expected discounts drove Cyber Monday spending, the report said, with discounts peaking at 30 percent off the listed price for electronics, followed by toys (26 percent off), apparel (23 percent off), TVs (22 percent off), and computers (22 percent off).
The report compared online sales in categories on Cyber Monday with sales on an average day in October.
Jewelry sales were up 478 percent, just behind toys (680 percent) and personal care items (530 percent).
Jewelry was among the top sellers on Cyber Monday, as were smart watches.
Other top performers, excluding toys and gaming consoles, included computers and laptops, Bluetooth headphones and speakers, skin care sets, makeup products, and gift cards.
Related stories will be right here …
In-store shopping outpaced online shopping during this time, according to the National Retail Federation’s annual survey, but online sales remain a popular draw for consumers.
In a holiday shopping trends report, Adobe Analytics shared insights from the five-day period and what it means for the holiday season ahead.
During the five days from Thanksgiving to Cyber Monday, also known as Cyber Week, shoppers spent $41.1 billion online, up 8 percent year-over-year.
The period was driven by record spending online on Thanksgiving (up 9 percent to $6.1 billion), Black Friday (up 10 percent to $10.8 billion), and the weekend of Nov. 30-Dec. 1 (up 6 percent to $10.9 billion), which includes Small Business Saturday.
Cyber Monday is still the biggest online shopping day, with consumers spending a total of $13.3 billion, up 7 percent year-over-year and exceeding Adobe’s forecast of $13.2 billion.
“While Cyber Monday remained the season’s and year’s biggest online shopping day, year-over-year growth was stronger on both Thanksgiving and Black Friday,” said Vivek Pandya, lead analyst at Adobe Digital Insights.
“Early discounts were strong enough that many consumers felt comfortable hitting the buy button earlier on during Cyber Week, with Cyber Monday becoming ‘last call’ for shoppers to take advantage of big holiday deals.”
The peak shopping hours on Cyber Monday were 8-10 p.m., said Adobe, with shoppers spending $15.8 million every minute.
Larger-than-expected discounts drove Cyber Monday spending, the report said, with discounts peaking at 30 percent off the listed price for electronics, followed by toys (26 percent off), apparel (23 percent off), TVs (22 percent off), and computers (22 percent off).
The report compared online sales in categories on Cyber Monday with sales on an average day in October.
Jewelry sales were up 478 percent, just behind toys (680 percent) and personal care items (530 percent).
Jewelry was among the top sellers on Cyber Monday, as were smart watches.
Other top performers, excluding toys and gaming consoles, included computers and laptops, Bluetooth headphones and speakers, skin care sets, makeup products, and gift cards.
Notably, mobile shopping continues to be popular, with 57 percent of Cyber Monday online sales coming from a mobile device, up 13 percent year-over-year to $7.6 billion.
It’s a considerable jump, said Adobe, adding that in 2019, only 33 percent of Cyber Monday online sales came from a mobile device.
Buy Now, Pay Later (BNPL) shopping hit an all-time high on Cyber Monday, the report said, up 6 percent year-over-year to $991.2 million, as shoppers look for flexibility and manage their holiday budgets.
Most of the BNPL sales (75 percent) on Cyber Monday came from a mobile device.
Another report highlight was shoppers’ use of generative AI, which includes chat bots on retail sites.
Traffic to retail sites from chat bots, meaning shoppers click on a link from a chat bot to a retail site, was up 1,950 percent compared to last year.
“While the base of users remains modest, the uptick shows the value chat bots are playing as a shopping assistant for consumers to find deals or to quickly locate products,” said Adobe.
Adobe also tracks how marketing channels influence consumers to shop on U.S. retail sites.
Influencers are an increasingly persuasive factor, converting shoppers six times more than overall social media.
The “affiliates and partners” category, which includes influencers, accounted for 20 percent of revenue on Cyber Monday, up 7 percent year-over-year.
As for inflation, Adobe’s Digital Price Index noted e-commerce prices have been down for 26 consecutive months, and down 3 percent year-over-year in October.
“Strong consumer spending online continues to be driven by net-new demand and not higher prices,” said Adobe.
“Adobe figures are not adjusted for inflation, but if online deflation were factored in, growth in consumer spend would be even stronger.”
From Nov. 1 to Dec. 2, shoppers have spent $131.5 billion online, up 9 percent year-over-year.
Mobile shopping has accounted for 53 percent of online sales so far for the period, up 14 percent to $69.8 billion. BNPL spend has reached $9.4 billion so far.
For the full holiday season, which Adobe considers Nov.1-Dec.31, consumers are expected to spend $240.8 billion online, up 8 percent year-over-year.
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