With the holiday season kicking off with Black Friday, Adobe released its annual holiday trend forecast. They predict this holiday season will generate $23.4 billion or 19% of total online sales. One extra calendar day between Cyber Monday and Christmas Day will give retailers a $284 million boost in sales.
Some takeaways:
It is a brick and mortar story
- Retailers with online and physical footprints are expected to see 28% higher conversion online in comparison to retailers lacking a traditional storefront.
- BOPIS (buying online and picking up in store) has increased 119% since January 2018 across all retailers and over 250% for large retailers.
- Nearly half (47%) of consumers expect to browse in-store for a product they intend to buy online later, jumping to 58% among millennials.
Online
- Cyber Monday will set a new record as the largest- and fastest-growing online shopping day of the year with $7.7 billion in sales, a 17.6% increase year over year.
- Online sales between 7 p.m. and 10 p.m. Pacific Time on Cyber Monday are expected to drive more revenue than an average full day in 2018, with conversions hitting the highest rate of the year, 7.3%.
Mobile
- Smartphones continue to gain share as consumers’ preferred devices for online shopping, representing 48.3% of visits and 27.2% of revenue. Mobile revenue is up 11.6% YoY.
- Completed cart orders happen over 20% less on smartphones than desktop.
- Tablets are on the decline, making up 8.8% of visits (down 30% in four years) and just 9.6% of sales.
You can download the full Adobe Analytics’ 2018 Holiday Shopping Predictions here
Photo by Marina Khrapova on Unsplash
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