Holiday Shopping 2017 Is Off to a Booming Start

holiday shopping

Consumers aren’t wasting any time getting into the holiday spirit this year. New data shared by Adobe Analytics found that between November 1st and 11th, online shopping generated at least $1 billion every day. For comparison, there were only two days during the same time period in 2016 that failed to pass the $1 billion mark.

This isn’t the only indication that online holiday shopping is off to a very strong start. Revenue growth has jumped 19.8 percent year-over-year, versus only 4.8 percent in 2016. Based on these data points, Adobe Analytics now forecasts this season’s revenue as tracking 1.8 percent higher than the initial estimate.

While consumers are buying a lot online, they’re not using the same devices they did in the past. Both smartphone and tablet shopping are up year-over-year, at 28 percent and 15 percent respectively. But shopping from a desktop computer has actually decreased year-over-year by a full 19 percent.

The Holiday Shopping Boom Isn’t Just in the U.S.

The final quarter of 2017 is shaping up to be a great time for retailers around the globe. Although Christmas isn’t an official holiday in China, it is celebrated throughout the country. There’s also Singles Day, which takes place on November 11 each year.

Best described as a day for single people to treat themselves (aka the anti-Valentine’s day), this day was created by college students in the mid-90s. Then in 2009, the mega-retailer Alibaba launched its first Singles Day online sale in 2009.

This year, the company’s Singles Day sales hit a new record of $25.3 billion. That amount is more than Black Friday and Cyber Monday combined! During the peak of this shopping bonanza, there were 325,000 orders being placed every second.

How to Make the Most of the Rest of November and December

Whether your retail business sells to customers in the United States or around the globe, there’s still plenty of time to benefit from all the excitement surrounding online shopping this year. If you missed our previous post on how to make the most of Black Friday, be sure to go read it now. In addition to the tips we shared (like segmenting your offers, emphasizing gift cards and being creative,) we have three more tips for maximizing your holiday sales.

1. Offer Free Shipping

Higher than expected shipping costs is one of the top reasons people abandon online carts before buying. You can avoid losing a significant percentage of customers by adjusting your approach to online pricing to include free shipping.

2. Use Video

Video is a great way to showcase more details about your products. Even if you shoot it with your phone, a short 30- to 90-second video added to a product page and shared on social can help drive more sales.

3. Share Photos from Customers

Customer photos are one of the best forms of social proof. They usually have a bigger impact than just written reviews. In addition to sharing photos from your customers on social, it’s also a very good idea to add them directly to your product pages.

So, what are you waiting for? The holiday season is prime time for online business sales – do everything you can to maximize your profit and share your goods with people around the world.

 

 

Posted on Monday, November 20th, 2017