There are just a few sleeps until Santa arrives and we are already hearing what a successful holiday shopping season this is and already has been.
Internet Retailer reported that e-commerce sales were up more than 10% to top $50 billion in November 2017 compared with the same time last year. With physical retail locations closing at an unprecedented rate, it is great to see the industry doing well in other channels and attracting new shoppers to their online stores.
More Men are Shopping Online
Women frequently look at one another and roll their eyes when they discuss their male counterparts and Christmas shopping. I know that my husband frequently waits until Christmas Eve. Survey data have revealed that women are typically considered more responsible for holiday shopping and that men delay their purchases until closer to the “big day.” Therefore, it is comforting to know that more men were shopping on both Black Friday and Cyber Monday. Granted, they did wait until later in the day to finalize their purchases, but we commend them for starting their holiday shopping early!
Amazon Cleaned Up
On the “shopping weekend” which is anchored by Thanksgiving Day and Cyber Monday, Amazon enjoyed more than 30% of retail traffic. In second place was Google Play, with just over 20%. Retailers are especially challenged by Amazon’s low prices and two-day shipping with Prime membership—accelerating the “race to the bottom.” With more than 90 million “Prime” members in the US alone and more vendors signing up daily. Amazon will continue to enjoy the dominant spot.
The devices that shoppers are using to shop online for the holiday season remains relatively unchanged from last year. Not surprisingly, Millennials are more comfortable shopping with their mobile devices than older consumers. Nevertheless, sales from smartphone purchases increased by more than 41% on Cyber Monday. Another large change is how quickly consumers convert when they are using their smartphones. Although conversion is still higher on laptops, the gap is narrowing quickly. Mobile is quickly becoming a dominant online shopping channel.
What This Means for You
As always, we want to impress upon you the importance of compelling product stories when you trying to attract shoppers to your products and your web store. This will help when you are speaking to busy holiday shoppers who are seeking the perfect gift.
And, of course, we want you to ensure accuracy and consistency across channels as you battle for a customer’s attention. This will help to counteract price competition—if you can be found first and have the perfect product information, customers will feel confident to immediately purchase. In addition, consumers of varying generations, using different methods and media for their holiday shopping will always find perfect product information—regardless of channel or device.
In addition, we also want to remind you that relevancy is really the key to converting within your channels. The story you want to convey to a male shopper may differ from that for the female shopper. Having a content creation factory that allows you to create the right content for each instance along the customer journey—content that is appropriate for that particular customer—is the key to success.
We can help you with that! Book a demo of inRiver Product Marketing Cloud.