Online retailers benefit from record-breaking Thanksgiving weekend
The biggest sales period of the year recently passed, and as some retail industry experts predicted, online spending broke previously established records. According to Adobe's analysis of Cyber Monday, ecommerce purchases reached $2.9 billion on that day, a 16 percent increase from last year. Online sales in general were on the rise, with mobile also a more important factor than ever in how much revenue a company generates.
"Retailers earned ten percent of their annual sales in just the last five days, an increase of 26 percent [year-over-year]," said Tamara Gaffney, principal analyst at Adobe Digital Index.
Merchants that deployed retail software with robust mobile commerce options may have benefited the most from sales between Black Friday and Cyber Monday. The total number of consumers buying items on their smartphones and tablets rose by 80 percent in comparison to the same period in 2012. Tablets accounted for 12.7 percent of all online Cyber Monday sales, with smartphones generating another 5.3 percent.
Due to the increased popularity of buying products on mobile devices, Joel Anderson, CEO of Walmart.com, told USA Today that 2013 will be the year "online went mobile." Smartphone- and tablet-based shopping played a key role in Walmart.com's sales, with 55 percent of its Black Friday Web traffic originating from the gadgets.
Online sales surged upward
Online sales broke previous records every day of the Thanksgiving weekend, and while omnichannel retailers achieved the most overall financial success, Internet-specific merchants captured a 42 percent share of all products sold on Cyber Monday, according to Adobe. USA Today noted that some Internet merchants experienced as much as a 44 percent improvement in Cyber Monday sales between 2012 and 2013.
USA Today highlighted that part of online retail's success is that the channel can provide shoppers with popular products that are sold out in brick-and-mortar locations. While enhanced ecommerce options may be integral to attracting future customers, improved inventory management may also help merchants succeed in an increasingly competitive and diversified marketplace.
In light of retail trends from the most recent Thanksgiving weekend, merchants should invest in powerful ecommerce software that will be ready to capitalize on consumers' greater comfort with purchasing goods online. With mobile spending generating one fifth of all Cyber Monday sales, allowing customers to easily complete their transactions through smartphones and tablets will also play an important role for e-tailers.
