Adobe Data Shows Cyber Monday Is Largest Online Sales Day in History with $6.59 Billion
November 27 2017 - 11:47PM
Business Wire
Over $1 Billion More Spent Online Than on Cyber Monday 2016;
Revenue Driven by Smartphones Hits All-Time High with $1.59
Billion
Adobe (Nasdaq:ADBE) today released its 2017 online shopping data
for Cyber Monday and the holiday weekend overall. Cyber Monday is
projected to hit a new record as the largest online sales day in
history with $6.59 billion by the end of the day. This marks a 16.8
percent year-over-year (YoY) increase as of 10:00 p.m. ET. In
comparison, Black Friday and Thanksgiving Day brought in $5.03
billion and $2.87 billion in revenue respectively. Top sellers on
Cyber Monday included the Nintendo Switch, PJ Masks and Hatchimals
& Colleggtibles figurines, Apple AirPods, streaming devices
like Google Chromecast and Roku, and Super Mario Odyssey, the video
game. The holiday shopping season so far (November 1 to 27) drove a
total of $50 billion in online revenue, a 16.8 percent increase.
Adobe predicts this will be the first-ever holiday season to break
$100 billion in online sales.
Overall web traffic to retail sites increased by 11.9 percent on
Cyber Monday, with the season average at 5.7 percent. Mobile set a
new record representing 47.4 percent of visits (39.9 percent
smartphones, 7.6 percent tablets) and 33.1 percent of revenue (24.1
percent smartphones, 9.0 percent tablets). Smartphone traffic
specifically grew 22.2 percent YoY while revenue coming from
smartphones ($1.59 billion) saw 39.2 percent growth YoY, a new
all-time high. Mobile transactions are closing at a 12 percent
higher rate compared to Cyber Monday 2016. For purchases made on
smartphones, Apple iOS led with an average order value (AOV) of
$123, in comparison to Google Android at $110.
“Shopping and buying on smartphones is becoming the new norm and
can be attributed to continued optimizations in the retail
experience on mobile devices and platforms,” said Mickey Mericle,
vice president, Marketing and Customer Insights at Adobe.
“Consumers are also becoming more savvy and efficient online
shoppers. People increasingly know where to find the best deals and
what they want to purchase, which results in less price matching
behavior typically done on desktops. Millennials were likely
another reason for the dramatic growth in mobile, with 75 percent
expecting to shop via their smartphone."
Additional findings include:
- Top sellers: Best-selling
electronics include Google Chromecast, Apple iPads, Samsung
Tablets, Apple AirPods, and Sony Playstation VR. Video games and
consoles include Super Mario Odyssey, Nintendo Switch and Microsoft
Xbox One X. Toys include PJ Masks and Hatchimals &
Colleggtibles, Funko Pop and L.O.L. Surprise dolls, as well as Ride
On Cars.
- Biggest discounts: Largest price
drops heading into Cyber Monday were for toys with an average
discount of 18.8 percent, followed by TVs at 21.1 percent and
computers at 14.7 percent. Black Friday saw the largest discounts
for computers (15.9 percent on average), followed by TVs (21.6
percent) and toys (17.3 percent). On Giving Tuesday, pet
products as well as furniture and bedding are expected to see the
best deals with 22 and 13 percent respectively.
- Expected shopping surge in the late
hours of Cyber Monday: Three hours in the evening of Cyber
Monday (8-11 p.m. in each local market) are expected to bring in
more online revenue than the average 24-hour day. Conversion rates
will reach their peak during the last hour of Cyber Monday (11 p.m.
– midnight) at four times the annual average.
- Large and small retailers win:
Large retailers (over $100 million in annual revenue) saw higher
AOVs and desktop conversion rates. Small retailers (under $10
million in annual revenue) saw 30 percent higher conversion rates
on smartphones than large retailers.
- Top retail promotion drivers:
Search drove the majority of online sales on Cyber Monday at 41.7
percent (paid search at 22.9 percent, organic search at 18.8
percent). Direct traffic and email drove 24.8 percent and 24.9
percent respectively. Paid search saw the strongest growth at 8.3
percent YoY.
- Record Thanksgiving week online
sales: November 23 through 26 totaled $13.03 billion, a 14.4
percent increase YoY. Thanksgiving Day spend totaled $2.87
billion (18.3 percent growth YoY) while Black Friday hit $5.03
billion (up 16.9 percent YoY). Thanksgiving weekend (November 25
and 26) saw $5.12 billion in revenue. Online spend surpassed at
least $1 billion every day in the lead up to Thanksgiving.
- Full holiday season online
sales: For the rest of the season, 13 days are projected to
exceed $2 billion in online sales bringing the total to 18 $2
billion days this holiday season, over double the number from last
year.
Methodology
Adobe leverages Adobe Sensei, Adobe’s artificial intelligence
and machine learning framework, to identify retail insights from
trillions of data points that flow through Adobe Analytics, part of
Adobe Analytics Cloud in Adobe Experience Cloud. Adobe’s retail
report, the most comprehensive set of insights and predictions of
its kind in the industry, is based on an analysis of one trillion
visits to over 4,500 retail sites and 55 million SKUs. $7.50 of
every $10 spent by consumers online with the top 500 U.S. retailers
go through Adobe Experience Cloud.* Adobe Analytics measures 80
percent of online transactions at the largest 100 U.S. web
retailers.**
Helpful Links:
- 2017 Online Shopping data
portal:
https://landing.adobe.com/en/na/solutions/digital-index/ctir-2840-holiday-predictions-2017/?sdid=MLR7SG1G&mv=other
- Adobe Digital Insights 2017 Holiday
Online Shopping Predictions press release:
http://news.adobe.com/press-release/experience-cloud/adobe-forecasts-us-online-sales-surpass-100-billion-holiday-season
About Adobe
Adobe is changing the world through digital experiences. For
more information, visit www.adobe.com.
*Based on the top 100 retailers in the IR 2017 top 500
eGuide
**Internet Retailer’s 2017 Top 500 eGuide, an independent source
that measures online commerce technologies
(https://www.digitalcommerce360.com/product/top-500-database/)
© 2017 Adobe Systems Incorporated. All rights reserved. Adobe
and the Adobe logo are either registered trademarks or trademarks
of Adobe Systems Incorporated in the United States and/or other
countries. All other trademarks are the property of their
respective owners.
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AdobeMelissa Chanslor, 415-832-5489chanslor@adobe.comStefan Offermann,
408-536-4023sofferma@adobe.com
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