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BizReport : Ecommerce archives : November 26, 2018

Reports underline importance of Black Friday

The official start of the holiday shopping season for this year indicates a record-breaking year on many levels. Key among the findings is this: Black Friday saw a 37% increase in conversions, and some of that increase can be attributed to retailers' early advertising of deals, allowing consumers to preview sales via mobile device before buying on Friday.

by Kristina Knight

Looking at hard numbers, Adobe Analytics reports $6.22 billion was spent online Black Friday, a 23% YoY increase. And, shoppers weren't only buying online, the data shows a 73% increase in online orders that were picked up in-store.

"Shoppers capitalized on deep discounts on Black Friday, resulting in the largest Black Friday online ever with online spend totaling $6.2 billion. Even consumers who shopped online made trips to retail stores with buy online pick-up instore (BOPIS) orders up significantly (73%) from Thursday to Friday. Retailers have done their part to build better mobile experiences for consumers and turning nearly 10% more smartphone visitors into buyers this Black Friday versus last. As we kick off Small Business Saturday, online sales are trending very strong with 24% growth this morning. Indeed, the entire holiday season continues to see vigorous growth with Cyber Monday expected to be the largest US online shopping day in history," said Taylor Schreiner, Director of Adobe Digital Insights 

Adobe's experts believe this points to another record breaking day for Cyber Monday - where retailers could see nearly $8 billion in sales. More from Adobe's data here.

Focusing on Black Friday, Salesforce data shows a 4.8% overall conversion rate for Black Friday, making it the highest-converting shopping day of 2018 so far. The data also shows a 67% share of traffic to retail sites from mobile devices, an indicator that more customers are beginning their product research on mobile prior to purchase. Mobile also shows a 49% order share, indicating an increase in consumer comfort for mobile ordering.

More Salesforce data for the Thanksgiving weekend can be accessed here.

Data from Bluecore shows similar trends in the kickoff to the 2018 holiday shopping season, and also sheds new light on consumer trends. According to their data more than half (57%) of Black Friday sales were to new customer, and their experts believe nearly one-fourth (21%) will return to those sites at least once more during the 2018 shopping season.

That, because most first-time shoppers in 2017 returned within 94 days to make a second purchase from that retailer. As to how sales numbers broke down for Black Friday, Bluecore's experts found that across categories, merchants found a 307% increase in orders placed. For the big holiday categories - Apparel, Beauty, Jewelry - the increase in orders placed was between 300% and 450% higher than average.

"Though retailers see a significant number of first-time customers on Black Friday, the winners will be those that are able to convert these new shoppers into valuable long-term customers. Even more significant than total Black Friday sales numbers is the number of first-time buyers that become repeat buyers over time," said Rob Holland, COO, Bluecore. "This year we saw an average of 57% of purchases coming from new customers.  We expect that more than 20% of these new customers--who often convert in response to higher-than-average discounts--will become second-time buyers in 2019, and will buy in response to lesser (or no) discounts."

More Bluecore holiday data can be accessed here.

Tags: 2018 holiday shopping trends, Adobe Analytics, Black Friday shopping trends, Bluecore, ecommerce, m:commerce, mobile marketing, Salesforce

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