Cyber Monday breaks online sales record
Cyber Monday sales were even better than expected, fueled by a surge in mobile commerce.
The online shopping event hit a record $7.9 billion, representing a 19.3% increase over last year, according to data from Adobe Analytics. Mobile transactions surged 55.6%. It was the single largest online shopping day of all time in the United States.
“Sales coming from smartphones hit an all-time high of $2 billion and we saw a significant spike in the buy online, pickup in-store trend,” said John Copeland, head of marketing and customer Insights at Adobe.
Cyber Monday was also big for Amazon, which announced that Cyber Monday was once again the single biggest shopping day in the company’s history with more products ordered worldwide than any other day. Additionally, the five days starting with Thanksgiving and continuing through Cyber Monday, broke records as customers in the U.S. purchased millions more products over the five day period vs. the same period last year.
According to Adobe, 2.3% of product page visits saw an out-of-stock message on Cyber Monday, up over a season average of 2.1%. This cost retailers up to $177 million in potential sales. In comparison, Thanksgiving saw 3.3% and Black Friday saw 2.8%, costing retailers up to $120 million and $177 million, respectively.
Additional Cyber Monday findings from Adobe include:
• Golden Hours of Retail: The three hours between 10:00 p.m. and 1:00 a.m. ET on Cyber Monday were expected to drive $1.7 billion in online sales, roughly $300 million more than an average full day during the year.
• Out-of-Stock Levels: 2.4% of product page visits saw an out-of-stock message on Cyber Monday, up over a season average of 2.1%. This cost retailers up to $187 million in potential sales. In comparison, Thanksgiving saw 3.3% and Black Friday saw 2.8%, costing retailers up to $120 million and $177 million, respectively.
• Main Sales Drivers: On Cyber Monday, direct website traffic ranked highest for driving revenue at 25.3% share of sales (down 1.2% YoY), followed by paid search at 25.1% (up 7.4% YoY), natural search at 18.8% (down 2.8%), and email at 24.2% (up 0.5%). Similar to past years, social media continued to have minimal impact on online sales, at a 1.1% share.
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