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Reports: Cyber Week shows strong YoY growth
The numbers are in from Cyber Week and, according to Adobe, more than $3 billion was spent online Cyber Monday alone. That, combined with strong showings on Thanksgiving Day, Black Friday and through the weekend are setting retailers up for a strong holiday season.
According to Adobe's data total online sales for Cyber Monday hit $3.07 billion, with Barbie, LEGO, Xbox and iPad Air 2 leading the lists for shoppers. But, all was not glorious on Cyber Monday - 14 in every 100 product views showed 'out of stock' messaging.
"Strong Cyber Monday evening sales pushed the day's close to $3.07 billion, with stronger than expected discounts averaging 21.5%. Mobile sales also reached a sales volume record with $799 million of online spending coming from a smartphone or tablet. Consumers now turn their attention to Giving Tuesday, starting a flurry of giving, which increases average donation size by over 40% and builds strength until it peaks on New Year's Eve." - Tamara Gaffney, principal research analyst, Adobe Digital Index
Meanwhile, BizRate Insights, a division of Connexity, notes that more than half of mobile purchases on Cyber Monday were made via smartphone. Other interesting findings from their stats include:
• 50% of Cyber Monday online buyers shopped via mobile device, a 16% YoY increase
• 40% say they shopped during the Thanksgiving Weekend via mobile, a 15% YoY increase
• 67% of Cyber Monday online buyers who are shipping club members say they shop more via their club
• 36% of Cyber Monday online shoppers belong to shipping clubs
As for the overall results, MarketLive is reporting that from Thanksgiving Day through Cyber Monday total revenue increased 20% YoY, with average order values up by at least 20%. Social networks referred more than half of shopping traffic, and showed conversion rates of 62%.
"Many retailers enticed consumers to spend early with 'pre-Cyber Monday' promotions, and many shoppers responded. Cyber Monday has stretched into Cyber-Week, and shoppers are not even waiting for Black Friday. As one indicator, Average Order Value on Thanksgiving Day broke past $200 for the first time ever," said Ken Burke, CEO and founder of MarketLive Inc. "These stellar online sales results are the result of tremendous improvements in all aspects of online shopping, online promotions, mobile-responsive websites and efficient logistics."
Image via Shutterstock
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