Top 3 E-Commerce Predications for the Holiday Season
Holiday shopping is almost upon us as retailers gear up for some serious consumer spending. This season’s sales are expected to rise 10%, accounting for 27% of total sales for the entire year.
To help us predict where, when and what consumers will be shopping for, Adobe has analyzed more than 1 trillion visits to 4,500 retail websites over the last six years, including 20 million in October alone. The results might surprise you, but in previous years Adobe’s predictions were within 1%. Here are the top three:
1) Online prices will hit rock bottom on Thanksgiving Day
Online sales will start Monday before Thanksgiving, with the largest single price drop of 5% occurring on the Sunday to Monday before the holiday. Thanksgiving day will have an average discount of 24%, driving prices lower than on any other day during the holiday season. Average items will be 20% off during Thanksgiving week and prices will increase Tuesday after Cyber Monday.
2) Thanksgiving, Black Friday and Cyber Monday all will have record online sales
Black Friday will become the fastest growing online sales day of the year, increasing 28% to hit $2.48 billion in sales. Thanksgiving will be a record day for online sales, rising 27% this year to hit $1.35 billion, in large part thanks to the earlier store openings and better co-ordination of e-commerce with store activity by retailers. Cyber Monday will continue to be the largest online sales day up 15% growth this year to hit $2.6 billion.
3) Thanksgiving will be the most mobile shopping day of the year
31% of all online sales will be generated via a smartphones and tablets, hitting $418 million in total m-commerce sales. Mobile will also drive significant sales on Black Friday, 26% of share at $644 million in sales, and Cyber Monday, 20% of share at $520 million in sales.
What are your expectations for the season? Share your predictions and holiday shopping habits in the comments below.
All data from Adobe’s 2014 Holiday Shopping Prediction