It’s okay, you can breathe- holiday peak season is over.
Every holiday peak season is a busy period for retailers, but along with the pressure to offer the customer more comes a chance to shine and dominate the competition. This takes almost a full year to plan, so that’s why we’ve revealed the 5 things that retailers need to know about peak season 2016.
Adobe stated it “tracked 23 billion anonymized visits to retail websites, covering 80 percent of all online transactions for the top 100 U.S. retailers.” The rush online for Black Friday might have pointed to a general weariness to avoid crowds of shoppers.However, Black Friday surprisingly unseated Cyber Monday as the year’s biggest digital shopping day.
- There was $122.9 billion spent in non-store sales (which were up 12.6% over 2015)
- Peak e-commerce volume soared 39% higher than 2015 levels
Although desktop purchases were in the lead, smartphones continued to drive traffic for retail sites. Impressively, Black Friday became the first day in retail history to reach over one billion dollars in mobile revenue at $1.2 billion, a 33 percent growth from 2015.
- On Cyber Monday, 65% of all purchases were made on desktop, although mobile accounted for 53% of all visits
- 29% of sales on Cyber Monday came from phones (up 27% from 2015)
- Checkout processes on mobile are still a hassle for consumers with only a few large companies like Walmart and eBay providing a seamless process via mobile app
Marketplaces like Amazon provide shoppers with lower prices and a variety of options that many big box retailers don’t. Their special memberships provide shoppers with enticing incentives such as free two-day delivery and media downloads.
- Shoppers with Amazon Prime membership purchased more than $1 billion items during the holiday shopping season
- December 19th was the peak shopping day for Amazon, while December 23rd was the biggest day for Prime Now deliveries
- An estimated $4.74 billion worth of web purchases were made on Amazon from Thanksgiving through Cyber Monday (that would represent a staggering 37% of all online sales during the five-day period)
With online shopping sales up, consumers’ expectations soar when it comes to the shipping of their orders. Although many retailers are becoming aware of the importance of shipping options, 56% of consumers say cost is still the most important factor they consider when placing an online home delivery order.
- 46% of consumers claim they are willing to pay for shipping for a particular priority item, but they generally prefer to shop with retailers who offer free shipping
- With 64% of abandoned carts blamed on shipping-related woes, optimizing shipping should be a priority for retailers in 2017
This year many retailers increased staffing to support omnichannel fulfillment options like buy online pick-up in-store. Consumers find that BOPUS provides them with convenience and allows them to avoid shipping costs. However, many shoppers complained when it came to their BOPUS experience citing long lines and wait times.
- 39% of consumers use BOPUS to avoid home delivery charges and 31% use the service because they want their product sooner rather than waiting
- 40% of retailers that have leveraged BOPUS in the last 12 months have experienced a problem
Whether it’s zooming in on what your customers really want and what they expect, adapting to changing customer priorities or creating an unforgettable, personalized experience, the customer will rule in 2017. So get your online and mobile stores perfected, make shipping a priority and improve your BOPUS strategy to beat out marketplaces in 2017.
[[ WIN 2017 ]]