Flash Reports 3 minutesHoliday 2019: US Cyber Monday Digital Sales Hit $9.4 Billion Author By Coresight Research December 4, 2019 0 likes1,372 view Key PointsThis year’s Cyber Monday saw US retailers launch big promotions and consumers spend almost one-fifth more online than last year. Brands and retailers in the US generated some $9.4 billion in revenue via digital sales on Cyber Monday, up 19% from last year. Average discounts grew to 31%, up one percentage point over last year. With the shortened holiday season and continuing migration to e-commerce, omnichannel retailers offering in-store order pickup stand to benefit through the rest of the season. 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. Source: Adobe 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. Source: Adobe 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. Source: Salesforce 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. Other research you may be interested in:
