Black Friday Sales Records Set
SAN JOSE, Calif – BUSINESS – Where you one of the millions of online shoppers who took advantage of “Black Friday”? The growth of online shopping on this increasingly busy shopping day set new records. Adobe (Nasdaq:ADBE) today released its 2014 Digital Index Online Shopping data for the holiday season. Between November 1 and November 28, $32 billion have been spent online, 14 percent more than in 2013. Thanksgiving Day and Black Friday set new sales records with $1.33 billion and $2.4 billion, respectively.
Mobile Devices a Dominant Role
For the first time smartphones nearly doubled their share of total online sales on both days. November 11 (“Singles’ Day”) set a new sales record with $1.29 billion and is expected to surpass Cyber Monday in growth this year. The average order value for sales coming directly from a social network was led by Facebook with $114.45.
The latest findings are based on the analysis of aggregated and anonymous data of more than 350 million visits to 4,500 retail websites. Adobe’s Online Shopping reports offer the most comprehensive compilation of data in the industry. More than $7 out of $10 spent online with the top 500 U.S. retailers are measured by Adobe Marketing Cloud, more than any other technology company. The tremendous volume of data puts Adobe in the unique position to deliver highly accurate, census-based online sales totals, pricing and product availability trends as well as other retail data.
“Consumer use of larger screen smartphones helped drive significant increases in mobile online sales – enough to set records two days in a row,” said Tamara Gaffney, principal analyst, Adobe Digital Index. “This year’s Thanksgiving holiday results demonstrated the power of big data to build predictive models. From average discounts to mobile share and overall sales numbers, Adobe hit the mark for the third year in a row.”
Key online shopping data and trends include:
- Total Online Spend: Consumers spent $32 billion online so far this season, a 14 percent growth year-over-year (YoY). Both Thanksgiving Day and Black Friday saw double-digit growth in online sales, 25 and 24 percent respectively. The increase in sales was driven by brick-and-click retailers, who saw the biggest jump YoY with nearly 30 percent. Online sales conversions also improved. 3.2 percent of visits resulted in a completed shopping cart, up from 3.14 percent in 2013. The average order value was $149 on Thanksgiving Day, and $142 on Black Friday. The number of people choosing to order online and pickup in-store rose to 45 percent above normal on Thanksgiving Day.
- Mobile Trends: Smartphones and tablets continued to drive online sales. 29 percent of sales on Thanksgiving Day came from mobile devices, up from 21 percent in 2013. Mobile devices drove 27 percent of sales on Black Friday, three percent more than last year. The share for smartphones rose to 13 percent and almost doubled compared to seven percent last year. The share for tablets only increased slightly to 16 percent from 14 percent in 2013. iOS users drove four times as much mobile sales revenue as Android users, 79 and 21 percent respectively.
- Best Deals: Between Sunday and Monday before Thanksgiving the average online price fell 5.5 percent, 0.5 percent more than forecasted, representing the highest price drop in a single day in 2014. Thanksgiving Day saw the lowest prices online with an average discount of 25.2 percent, 1.2 percent lower than in 2013.
- Impact of Social Networks: The average order value (AOV) for sales coming directly from social networks was led by Facebook with $114.45. Pinterest came in second with $93.20, and Twitter drove online sales of $90.74 on average. Pinterest saw the largest YoY increase in AOV, up 16 percent. Facebook (seven percent) and Twitter (five percent) also saw slight increases. Two percent ($74.6 million) of purchases came directly from social media sites, which is flat compared to 2013.
- Singles’ Day Surprise: For the first time, Singles’ Day let U.S. retailers start the holiday shopping season earlier this year. Online sales on November 11 set a new record with $1.29 billion, a 16 percent YoY increase, and close to online sales on Thanksgiving with $1.33 Billion. Singles’ Day is expected to grow faster than Cyber Monday and become one of the top five days with the lowest online prices this season.
- Top Gifts: Social media buzz continued to be an early indicator for top gifts. 4K TVs saw the biggest jump in social buzz month-over-month (MoM) with social media mentions for Sony and Samsung increasing 350 percent. Fitbit led the wearable device category, which had 100,000 social mentions on Thanksgiving and Black Friday while iPhone 6 continued to lead in the smartphone category.
Shoppers Kick Off Black Friday by associatedpress