Forecast for $1 Billion in 53 Days of Online Holiday Sales
Some of the key takeaways from the Adobe 2016 Digital Insights Shopping Predictions and Mobile Retail Trends Report.
Some of the key takeaways from the Adobe 2016 Digital Insights Shopping Predictions and Mobile Retail Trends Report:
Extended holiday season: 53 consecutive days (57 total) that will each exceed $1B in online sales (vs. 31 consecutive days in ’15)
- Total online sales to grow 11% YoY to $91.6B – with $8.4B expected in just 3 days (Thanksgiving Day, Black Friday, Cyber Monday)
- Cyber Monday will be largest online shopping day of all time ($3.36B, +9.4% YoY)
- Black Friday sales to reach $3.05B (+11.3% YoY); Thanksgiving Day ($2B, +15.6% YoY)
And:
Mobile overtakes desktop for first time, but sales fall short
- Mobile devices will exceed desktop shopping visits (53% vs. 47%), but poor mobile experiences will only drive 34% of sales (19% gap between visits and purchases)
- Thanksgiving Day, Christmas will be biggest mobile retail days of the year (59% and 66% of visits)
- Cyber Monday will see 49% in mobile visits (+10% YoY)
- Average order value on desktops ($155) outperforms smartphones ($120) by $35 per order (from mobile retail insights press release)
- During the holidays, 30% of shopping carts will result in an order on desktops vs. 19% of carts on smartphones
- Desktops remain cash cow for retailers driving 75% of total revenue with 59% of traffic vs. smartphones driving only 16% percent of total revenue with 32% of traffic (from mobile retail insights press release)
[nativounit]
Finally:
5% of shoppers will drive 35% of online sales ($38.5B) for average retailer
- Consumers will be able to save up to 20% for same products across online retailers if they price shop
- Expected most desired gifts: VR devices, Pokémon, Barbie, Lego, Hot Wheels, Frozen toys, Google Home, and Amazon Echo
- Consumers likely to find best deals via display advertising (29%), social media (14%) and email (13%)
[wallst_email_signup]
Contact [email protected] for any questions or corrections.
Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
