US to surpass $100 billion in online sales this Christmas
Online sales in the lead-up to Christmas in the US are expected to be $107.4 billion, up 13.8 per cent compared to last year, according to new research from Adobe Analytics. In-store sales are expected to grow 10 per cent.
In addition, Adobe expects Cyber Monday to become the largest online shopping day in history, generating $6.6 billion in sales, up 16.5 per cent compared to last year. One out of every six dollars this holiday season in the US will be spent between Thanksgiving and Cyber Monday – a five-day period – leading to $19.7 billion in sales.
While large retailers – those with more than $100 million in annual revenue – will see higher order values and desktop conversion rates than retailers with less than $10 million in annual revenue, the latter are expected to have the mobile advantage with a higher average conversion rate of 1.9 per cent.
Adobe Analytics data also shows shoppers gravitating towards purchasing more lower-price items online, as opposed to big ticket items.
“This year’s record-breaking online holiday shopping season is built on the strength of the big players,” said Mickey Mericle, vice president of marketing and insights at Adobe.
“We predict the biggest retailers with wide selections, easy shopping experiences and free shipping, to drive online holiday growth this year. Still, there is opportunity for savvy small retailers to win, specifically with mobile experiences,” Mericle said.
“As revenue growth plateaus, retailers will be competing hard for customers by offering steep discounts and providing a seamless customer journey.”