A new 6.2 billion USD record in e-commerce sales was reached during Black Friday 2018. It broke last year’s record of USD 5 billion, a 23.6% increase, beating the 5.03 billion prediction.
Cyber Monday sales cumulated to a whooping 7.9 billion USD, making it the largest U.S. online shopping day in history. This implies a 19.3% increase from last year.
Interestingly, most online sales made on Cyber Monday occur in the last hours. More revenue is made between 19:00 to 22:00 PST than an entire average day and the conversion rate then reach their yearly peak at 7.3%.
Overall, online holiday season revenues are predicted to be 125 billion USD (a 14.8% increase on 2017), with 1 in every 6 dollars of retail to be spent online. As of November 27th, 58.52 billion USD, 8.51 billion more than on the same day last year.
Smartphones are expected to bring in half of the traffic, and a quarter of the sales. Therefore, retailers should ensure that their website is optimized for mobile devices and that their marketing strategy includes their mobile app. Mobile app shoppers are twice more likely to convert than website visitors. However, online on its own won’t do the trick. Storefronts and in-store pickup give retailers an advantage on the competition. Buy-Online-Pick-Up-In-Store (BOPIS) has grown by 119% since January.
Holiday sales will benefit from a longer time between Cyber Monday and Christmas (28 days vs 27 last year). On those days, customers spend, on average, 26% more than before Cyber Monday. With the exception of December 22nd, 24th and 25th, every day is expected to bring in at least 1 billion USD.
The Holiday Predictions report is a yearly publication from Adobe Digital Insights. The Adobe Marketing Cloud offers real-time data and analysis of activity on websites, social media, and advertising.