Here at GroupBy, we’ve learned that the holidays are a wealth of information when it comes to making sense of the tide of constantly shifting eCommerce trends. Every year, an unprecedented influx of customers turn to online shopping to find the perfect items, and never more than during the holidays. This means that it’s more important than ever to understand how it is changing and what this means for retailers everywhere. And there’s no better time to track these changes than the busiest spike in online shopping of the year--Black Friday Weekend. Three days when people are shopping more than ever and subtly showing retailers what they expect from an eCommerce experience. So, what did we learn from this online shopping frenzy and what does it mean for eCommerce retailers in the future?
1) Shoppers are spending more Shoppers aren’t just shopping online more than ever. They’re spending more, as well. Our data reflects that online shoppers spent 23% more during Black Friday Weekend than in 2016. Not only that, there has been an 18% increase in total online holiday shopping since last year.This means they aren’t just turning to their online shopping carts more often, they’re filling them fuller.
2) Shoppers are relying on eCommerce for more and more of their shopping needs From 2016-2017 we have seen a 75% increase in overall online searches within our clients alone. Shoppers are almost doubling their searches to find the perfect product. As platforms grow, learn and expand, shoppers are becoming more reliant on eCommerce to satisfy a more diverse array of their needs. Retailers must keep up with this demand.
3) Not only are shoppers expanding their searches, they’re searching faster Between 2015-2016, we saw a 33% increase in queries per second within our client pool. The following year, our data reflected another 57% increase. This means that in the last two years, queries per second have increased by an exponential 110%. shoppers are searching, shopping, and ideally finding the perfect product faster. What does this mean for retailers? The window to place that perfect product in their path is getting smaller. This demands innovation and efficiency.
4) The Black Friday ~boom~ is real If there was any doubt that Black Friday is the ideal moment to capitalize on online shopping, this year erased it once and for all. From the week before Black Friday to Black Friday weekend, our data reflects a 86% increase in shopper revenue. shoppers are hungry to jump on the best deals, and they’re willing to wait for them.
5) Black Friday is THE time to make existing shoppers happy and gain new ones In 2017, we saw a 59% increase in site sessions from the week before Black Friday to Black Friday weekend. This enormous spike in eCommerce site visitation means that it is critical to make a good, lasting impression which will guarantee the return of new and longstanding shoppers for the rest of the year.
2017 was a year of growth and change, and this means that retailers must evolve alongside their customers as they depend on online shopping for more of their needs, both during and outside of the holiday season. People are shopping more, shopping faster and spending more than ever. As this happens, they’re also becoming increasingly comfortable with and demanding of their online shopping experience. So, the time to transform with them is here. The time to impress customers with a polished, personalized and all around positive experience, subsequently increasing profits and gaining loyal customers.