The ecommerce sales for this year are expected to break records, which is what Adobe Analytics has been predicting. The 304% increase in post-Thanksgiving ecommerce sales by small businesses is prove positive of this prediction. But the Cyber Monday increase is just as impressive with a 501% surge compared to the October daily average.
Post-Thanksgiving Ecommerce Sales
The result is a record $10.8B was spent online by the end of Cyber Monday according to Adobe Analytics data. This is an increase of 15.1% YoY, which makes it the largest online shopping day in U.S. history. It is over a billion dollars from last year’s $9.4B record. And the overall tally for the holiday spending now stands at $106.5B, a 27.7% YoY growth
The shopping is not slowing down as Adobe reports the data for Giving Tuesday is also strong. The firm is expecting online spend at $4.1B, which is a 26.3% YoY growth.
To date, Adobe is reporting record numbers every day during Cyber Week. The online spending on Thanksgiving Day ($5.1B), Black Friday ($9B), Small Business Saturday ($4.7B), Super Sunday ($4.7B), and Cyber Monday $10.8B. This is up 22%, 22%, 30%, 23%, and 15.1% year-on-year (YoY) respectively. And the good news is consumers are making many of their purchases from small businesses online too.
Compared to the October daily average large retailers saw a 486% increase in sales on Cyber Monday. However, for small retailers the growth is an impressive 501%.
Online Sale Insights
- One out 10 visits to retailer’s website was driven by social media over the Thanksgiving weekend, a 17% YoY increase.
- Record mobile spending via smartphones accounted for 37% of Cyber Monday sales. This is a 12% increase over 2019.
- The Cyber Monday deals will continue after the event. And according to Adobe, they will remain in place for some key categories.
- Curbside pickup is popular with a 30% YoY growth. Consumers are using curbside pickup (37%) and one-day shipping (45%) as last-minute online buying options.
- Strong discounts on computers (28%), sporting goods (20%), toys (19%), appliances (20%), and electronics (27%) drove sales.
Online Commerce and Small Business
The data from Adobe Analytics proves small businesses can compete with their larger counterparts when it comes to online commerce. Not only that, but they can also do them one better. The 486% to 501% difference is not huge, but it nevertheless shows small businesses can vie for that all-important holiday shopping dollar.
The key is to strengthen your digital presence not only during the holiday shopping season but year-round.
The data from Adobe is from the analysis of 80 of the top 100 US online retailers and their website transactions. This comes out to one trillion visits to U.S. retail sites and 100 million SKUs. And the analysis looks at large, medium, and small retailers across over 50 merchandise categories.