Now that the biggest holiday shopping bonanzas of Black Friday and Cyber Monday are over, let’s take a look at the top ecommerce giants and see how well they did over the deals-filled holiday weekend.
Sales during this time last year were quite remarkable, so Adobe predicts 2015 will grow even more, with total online spending during the holiday season to reach an all-time high of $83 billion ? an 11-percent year-over-year increase.
Numbers by ShopperTrak showed that Thanksgiving Day grossed an estimated $1.8 billion in sales, while Black Friday garnered an estimated $10.4 billion in sales, with the two dates combined to $12.1 billion in total sales.
So what about specifically online sales? Adobe predicted that Black Friday’s online sales would reach $2.75 billion, while Cyber Monday’s sales would rise about 12 percent from last year, totaling around $3 billion. So it was no surprise when Black Friday’s sales reached a close $2.72 billion and Cyber Monday’s actual sales topped just that, resulting in an increase of about 16 percent, and sales totaling $3.07 billion. Let’s take a closer look at a few of the top e-retailers.
Amazon started its Black Friday deals super early this year, with daily deals starting a week before on November 20th and running through Black Friday, November 27th. Some of its most popular deals included sales on its own products, and it definitely paid off: Amazon reported that this holiday shopping weekend was the best ever for its devices. Amazon reported its top-selling products on the entire site this weekend to be Amazon devices, with the Fire tablet ranked as #1, followed by the Fire TV streaming stick, and the Amazon Smart Echo speakers.
According to ChannelAdvisor, Amazon’s Cyber Monday revenues increased 21.1 percent from last year, outperforming overall online sales growth of 18 percent.
According to Adobe, Apple’s iPad Mini and iPad Air were the two top-selling gadgets over this past weekend, despite Apple’s refusal to offer discounts over the Black Friday/Cyber Monday shopping weekend. Of course, other retailers such as Best Buy, Walmart, and Target ran many deals on the products.
Another interesting note was that of the estimated $905 million in purchases via mobile devices this Black Friday, about 75% were made on iOS using iPhones and iPads, according to Adobe. This increase in purchases via mobile could mean a lot to the mobile commerce industry.
eBay also strategically rolled out their deals this year, with lightning deals every hour starting the night of Thanksgiving. One of the best-selling items for eBay this year was the hoverboard. eBay said it sold two hoverboards every minute on Thanksgiving! And if you don’t know what a hoverboard is, it’s the new best toy of 2015:
According to ChannelAdvisor, eBay’s Cyber Monday revenue increased 7% from last year, compared to 1.5% on Black Friday. As Adobe monitored the social buzz throughout the weekend, eBay was the most mentioned retailer since Thanksgiving, with Amazon a close second.
What does this mean for you?
Brick-and-mortar sales took a dive over the holiday weekend, while online sales soared. Spending in stores fell 10 percent from last year on both Thanksgiving and Black Friday, according to retailing research firm ShopperTrak. Are consumers’ shopping habits changing, or are e-retailers just doing a better job at advertising their deals? It’s understandable if we think about the behavioral shopping trends with millennials – who research products before buying in-stores. Most people also want to avoid the crowd on Black Friday and spend that time with family. It doesn’t seem that sales will be shifting away from online anytime soon, which means that e-retailers should focus more on this yearly holiday shopping weekend more than ever.
Additionally, with the increase of purchases happening on mobile devices, online retailers need to ensure the consumers’ online experience is mobile-friendly. According to predictions from Adobe before the weekend, for the first time, mobile devices will overtake desktops on Thanksgiving Day to drive the majority (51 percent) of online shopping visits ? representing 29 percent of online sales that day, a 12 percent increase YoY. Give your customers the best possible experience wherever the touchpoint with you may be – laptop, tablet, or mobile phone. Adobe data also shows that two percent of sales will be directly impacted by social networks, with Facebook leading and Pinterest following a little behind.
Looking ahead, ecommerce entrepreneurs should start preparing for the next holiday season–yes, holiday season 2016 may seem like forever away, but it will creep up on you! Start preparing your budget, planning for your inventory, and ensuring your customers’ user experience is perfected at least six months in advance.
Share with us in the comments your thoughts on this year’s Black Friday/Cyber Monday weekend!
Matt Clark is the Chairman and Co-Founder of Amazing.com, a serial entrepreneur, and investor. He’s been featured on Forbes, CNBC, and Entrepreneur.com.