As Retailers Offer Cyber Deals Earlier, Ecommerce Activity Boons,
with Mobile Conversion Rates up 116 Percent and 38 Percent on
Thanksgiving and Black Friday, Respectively; Black Friday Average Order
Values on Mobile Up 22 Percent
the leader in personalization for brands worldwide, has unveiled its
initial analysis of ecommerce activity during Thanksgiving and Black
Friday 2016. With analysis representing more than a hundred million U.S.
consumer touchpoints across desktop, mobile and tablet in the past two
days, data indicates an approximately 5.5 percent increase in total
Average Order Values (AOVs) on both days compared to 2015, with mobile
seeing the greatest increase in activity including a 115 percent
increase in conversions on Thanksgiving Day alone.
Monetate’s initial findings exceed the National Retail Federation (NRF)
outlook, which expects holiday spending in 2016 to increase 3.6 percent,
which is above the seven-year average of 3.4 percent and builds on the
3.2 percent increase in holiday sales experienced from 2014 to 2015.
Based on the NRF’s forecast that consumers will spend an average of
$588.90 on gifts this year, Thanksgiving and Black Friday orders
represent approximately 30 percent of total gift spending. Monetate’s
data showed Thanksgiving and Black Friday AOVs were $189.07 and $171.55,
respectively. Furthermore, consumers appear more than comfortable making
a purchase on mobile, with cart abandonment rates falling 23 percent and
7 percent on each day.
Other key findings include:
Desktop is on the Decline: conversion rates on desktop fell 9.1
percent and 36 percent on Thanksgiving and Black Friday, compared to
the same days in 2015. However, that channel does still have the
strongest overall conversion, at 5.79 percent on Thanksgiving and 4.41
percent on Black Friday.
Spend More, Buy Less: Though AOVs are up on average, conversion
rates are down—with conversion rates on Thanksgiving down 2.2 percent
and on Black Friday down a whopping 34 percent.
Bounce Rates Bounce Up: Across all channels, bounce rates
averaged approximately 33 percent on both Thanksgiving and Black
Friday, representing a 2.8 percent and 7 percent increase,
U.S. and U.K. Shoppers on Par: They spent almost identically on
Black Friday, at $171.55 and $170.98 in AOVs, respectively; their
Canadian counterparts were more conservative spenders, with an AOV of
“Gone are the days of rushing from the Thanksgiving dinner table into
crowded stores in order to stock up on gifts. In fact, for the first
time, conversion rates across all channels were higher on Thanksgiving
than Black Friday (3.75 percent vs. 3.04 percent). Clearly, ecommerce
has not only arrived, but is now the channel of choice for holiday
buyers,” said Lucinda Duncalfe, CEO, Monetate. “But it is not just
consumers who benefit from the ease of shopping at whatever time on
whichever device. Retailers now have the ability to use deep data to
enrich and personalize the customer experience, which in turn leads to
greater sales and increased loyalty.”
Monetate powers multi-channel personalization by enabling retailers to
translate their vast array of customer data into real-time action across
channels and devices. By empowering brands to understand and interpret
customer data in a meaningful way, retailers can deliver a more relevant
experience that builds long-term customer relationships.
This is the first of multiple ecommerce analyses that Monetate will
issue during the 2016 holiday shopping season. If you’re a member of the
media interested in receiving the latest data when they are made
available, contact Monetate@v2comms.com.
Monetate is the global leader in omnichannel personalization. Monetate
gives marketers the power to deliver 1-to-1 experiences that surprise
and delight customers, increasing engagement and lifetime value. The
Monetate Personalization Platform is open—use all your data, push a
decision to any touchpoint, then pull the results back into your
data/analytics infrastructure; Real-time—create interactions based on
behavioral and event data; and independent—don’t get tied to one vendor,
choose the solutions in your marketing stack. Founded in 2008, Monetate
influences billions of dollars in revenue every year for world-class
companies like QVC, Patagonia, Sur la Table, The North Face and hundreds
of other market leaders. Learn more at www.Monetate.com.
Version 2.0 Communications for Monetate
617-426-2222 / 781-956-1181