Cyber Monday continued Black Friday’s streak of record-breaking online sales for a roaring start to the holiday shopping season in the US.
Brands and retailers in the US generated $9.4 billion in revenue through digital channels on Cyber Monday, up 19% over last year
Brands and retailers pulled in $9.4 billion in online revenue on Cyber Monday—up 19% over last year, according to Adobe. Sales were driven by late-night shopping, with consumers plunking down an average $11 million a minute during the peak hour from 11 p.m. to midnight on Cyber Monday. This year, the top five selling products were L.O.L Surprise Dolls, Frozen 2 Toys, Nintendo Switch, VR Devices and Samsung TVs.
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Source: Adobe[/caption]
Smartphones hit $3.0 billion in sales and accounted for about a third of all Cyber Monday sales. Conversion rates were higher for desktop users than for smartphones and tablets this year, according to Adobe.
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Source: Adobe[/caption]
Average discount rates grew to 31%, up one full percentage point over last year
Cyber Monday is still the best day to get a deal, with average discount rates of 31%, up one full percentage point over last year’s Cyber Monday and several points above discounts offered on other days during Cyber Week.
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Source: Salesforce[/caption]
With the shorter selling season, omnichannel retailers that offer in-store order pickup stand to benefit—especially as consumers continue to migrate online
Brick-and-mortar stores can be an integral part of a retailer’s supply chain by serving as a miniature fulfillment center, cutting cost and offering shorter delivery times (although in fact in-store pickup) by offering buy online, pick up in store (BOPIS).
Salesforce estimates retailers that offer BOPIS gain 48% more active digital shoppers and generate 28% more revenue from online sales in the last five days leading up to Christmas.
AI-powered search and product recommendations help shoppers find products
Up to 9% of digital orders during Cyber Week were generated by AI-powered product recommendations, according to Salesforce data.