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Online Shoppers Converting At Higher Rates, And Not Just On Black Friday And Cyber Monday
Marketing Land's Online Retail Sales Report shows the holiday shopping season is in full swing.
On Cyber Monday, product page views on e-commerce sites were up 5.5 times the pre-holiday daily average, and conversion rates were more than triple (3.4x) the pre-holiday baseline.
That’s according to this week’s Marketing Land Online Retail Sales Report, which also indicates that overall e-commerce traffic last week was 142 percentage points higher than the prior week, while conversions to sale were up 42 percentage points as compared to the same period.
The report is based on data from HookLogic, a company which gathers data on online retail transactions through the advertising network it runs, allowing brands to run ads on major retailer websites.
On Black Friday, the company found traffic just 4.8 times the pre-holiday daily average, perhaps indicating that more shoppers spent that day — typically a holiday for U.S. employers — in brick-and-mortar stores, rather than online.
Interestingly, the average conversion rates on the Saturday and Sunday following Black Friday were also impressive when compared to the pre-holiday baseline — up 4.2 times and 3.6 times, respectively.
This likely reflects the diminishing importance of Cyber Monday, as shoppers now have a multitude of places to connect, rather than being dependent on their workplace computer and internet connection.
The data also provide insights into the peak shopping times during this pivotal weekend. On Cyber Monday, when many shoppers were at work during the day, retail site traffic peaked between 9 and 10 p.m. Eastern Time.
Thanksgiving saw traffic peak during the same hour, but Black Friday traffic was highest during the morning hours — from 11 a.m. to 12 p.m. ET. The pattern conforms to what was observed in 2013.
We’ll be featuring data like this weekly on Marketing Land as a part of our Retail Column coverage through the holiday shopping season. Some additional context can be found here.