Cyber Monday 2014 Sets a Record for Online Sales; Revenue Up 15.4% Over 2013
Black Friday and Cyber Monday have come and gone, and numerous sources are publishing reports examining how both dates have fared in terms of online sales. The past weekend was seen as a hit or miss by many reports. For the predictive analytics platform Custora, the Thanksgiving weekend proved to be a success for online retailers, with Cyber Monday being the biggest day in US online shopping ever.
Custora reports that online holiday weekend sales this year easily crushed last years. According to a report released by the company, this years Cyber Monday e-commerce revenue grew by as much as 15.4% over 2013s, while online orders are up 15.3%. [See Figure 1]
Figure 1 (Source: Custora)
Tracking data from more than 100 retailers in the United States, more than 100 million online shoppers, and more than $40 billion in e-commerce revenue, Custora also discovered that email marketing drove the most orders and sales during the holiday weekend. Email marketing reportedly accounted for 27.3% of orders for Black Friday and 23.9% on Cyber Monday, respectively.
Results from the report also suggested that online orders made on mobile devices played an important part in consumers online shopping, driving almost 22% of all orders on Cyber Monday. This is up from only 15.9% in 2013. Black Friday shoppers used their smartphones and tablets the most, with mobile taking 30% of orders.
Dominating the mobile landscape, on the other hand, are Apple devices. Overall, Apple devices accounted for almost 80% of mobile orders, while Android devices are evidently gaining share, with 21.6% of mobile orders over the holiday weekendup from only 15.4% last year.
Generating barely 2% of total e-commerce orders, social commerce was largely ineffectual on Cyber Monday, according to the report. Whatever sources say, one thing remains clear: Online shopping is growing steadily in influence, and drives more conversions with each passing year.
Corey Pierson, CEO of Custora, said that the growth of e-commerce will largely be fueled by increased mobile device usage and the growth of online shopping. In a report by CBS News, Pierson said, It’s not unthinkable that in five to 10 years, between a third and a half of U.S. retail will be done online.
Do you agree with Custoras findings? Which of your channels drove the most sales this holiday weekend?
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