Adobe: Holiday season ringing up $1 billion online daily
Thirty-five days in, the 2017 holiday shopping season has already generated $65.15 billion.
Every single day (35 in all), holiday shoppers are spending over $1 billion in online revenue, volume that is on pace to make the 2017 holiday season hit a record $107.4 billion. This accomplishment will make the 2017 holiday shopping season the first to cross the $100 billion mark, according to Adobe Analytics.
Mobile shopping remains strong and is contributing to this growth. Mobile represents 48.8% of visits (40.3% smartphones; 8.5% tablets) and 32.4% of revenue (22.3% smartphones; 10.1% tablets).
When diving into the most purchased merchandise, post-Thanksgiving, the top products include Apple AirPods and iPads, laptops (Dell, Lenovo and HP), Amazon Fire TV and Samsung tablets in electronics; Hatchimals & Colleggtibles, PJ Masks, Baby Alive and Little Live Pets in toys; Super Mario Odyssey and Pokemon Ultra Sun/Moon in video games; Xbox One X and Nintendo Switch in gaming consoles; as well as vacuum tumblers.
Additional findings include:
• Discounts: While the best deals were seen during the Thanksgiving shopping weekend, shoppers can still find good deals on TVs (prices down 15.0% since October 1), computers (down 13.1%) and toys (down 15.0%).
• Conversion rates and average order value (AOV): Season to date, conversion rates are showing growth: desktop 4.5% (up 10.6% YoY), smartphone 2.0% (up 12.3% YoY), tablet 4.3% (up 9.3% YoY). AOV is $130, slightly lower over the same time last year (down 0.6% YoY).
• Marketing channel impact: For the season thus far, search retained the top spot when it came to share of sales for retailers (23.0% paid; 21.5% natural). This is followed by direct traffic (26.6%), email (19.8%), shopper helper sites (6.1%), display (1.8%) and social (1.2%).
“Following a blockbuster Thanksgiving weekend that broke all records, online spending remained strong as consumers look to the Christmas holiday,” said Taylor Schreiner, director, Adobe Digital Insights.
“Whether it’s shopping on a smartphone or returning to a desktop at work, consumers are pros now at finding the best discounts and closing deals quickly online,” Schreiner said. “With every single day since the beginning of November raking in over a billion dollars, we are well on track for the holiday season to make history and cross the $100 billion mark in online spending.”
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