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Consumers Head Back to Desktop for Holiday 2017 Purchases, with Average Order Values up Five Percent on Thanksgiving Day on Desktop; Mobile Also on the Rise, with Conversion Rates up 14.9 Percent on Turkey Day
Monetate, the leader in personalization for brands worldwide, has unveiled its analysis of ecommerce activity during Thanksgiving and Black Friday 2017. With analysis representing more than 200 million U.S. consumer touchpoints across desktop, mobile, and tablet in the past two days, data indicates Thanksgiving ecommerce activity surpassed Black Friday for the second year in a row, with Average Order Values (AOVs) higher on Thanksgiving ($154.15) than Black Friday ($142.86).
While the entire holiday season is critical for retailers, Thanksgiving and Black Friday shopping are particular indicators of how successful the season will be. In fact, research from Monetate based on 11 million purchases from 2013-2016 shows that 67 percent of companies that don’t hit their multi-year Black Friday average will fail to hit their multi-year rest of the holiday season average. In addition to higher AOVs, conversion rates were also slightly higher on Thanksgiving compared to Black Friday, 3.2 percent and 3.1 percent respectively. Activity on mobile on Thanksgiving was also up, with conversion rates up 14.9 percent and cart rates up 14.4 percent.
Other key findings include:
“Instead of braving lines and crowded stores following a Thanksgiving meal, consumers are stocking up on gifts in the comfort of their own homes. For the second year in a row, conversion rates were higher on Thanksgiving than Black Friday, and mobile buying is continuing to rise,” said Lucinda Duncalfe, CEO of Monetate. “We know that ecommerce activity during critical shopping days like Thanksgiving and Black Friday are indicative of overall performance for a brand. Retailers should focus on delivering an optimized ecommerce experience across all channels, especially mobile, if they want to win this holiday season.”
Monetate is committed to helping brands maximize the results they receive from ecommerce activity, especially during the busiest times of the year. The company’s multi-channel personalization platform, the Monetate Intelligent Personalization Engine, is powered by machine learning, which helps retailers create, test and target experiences with improved relevance for every customer across web, email, mobile apps, in-store, and other touchpoints. By optimizing the customer experience across all channels, retailers build customer loyalty, drive higher conversion rates, and grow revenue.
This is the first of multiple ecommerce analyses that Monetate will issue during the 2017 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, the global leader in personalization software for consumer-facing brands, enables marketers to create experiences with improved relevance for every customer, increasing their engagement and boosting business outcomes. Powered by artificial intelligence, the Monetate Intelligent Personalization Engine makes it easy to test and optimize, segment and target, recommend products, and even create true 1-to-1 omnichannel experiences. The company was recognized as an industry leader by two leading analyst firms in June 2018 and August 2018. Founded in 2008, with offices in the U.S. and Europe, Monetate is used by leading brands around the world and influences billions of dollars in revenue every year for QVC, Newegg, Timberland, Carnival, The North Face, and hundreds of other market leaders. Learn more at www.monetate.com.