Adobe: Online holiday shopping surpasses expectations
Between Nov. 1-11, ending on Veteran’s Day, online spend surpassed $1 billion in online spend (compared to only nine of 11 days in 2016). This puts spending on pace to hit a total of $13.9 billion, according to data from Adobe Analytics, part of Adobe Experience Cloud.
Besides tracking 1.8% higher than predicted, November’s online spend to date is at a 19.8% year-over-year (YoY) increase, compared to a 4.8% YoY increase in 2016. This was likely due to last year’s presidential election and steeper product discounts in 2017, according to data.
Specific to Veteran’s Day, total online sales came in at $1.3 billion, 9.1% growth YoY. While mobile traffic and revenue on the rise, desktop sales are slowing. When looking at traffic share by device, smartphones are at 44% (28% YoY), desktop is 46% (-19.1% YoY), and tablets are 10% (15% YoY). When considering share of revenue by device, smartphones encompass 24% (40% YoY), desktop has 64% (-13% YoY), and tablets are 12% (12% YoY).
Meanwhile, conversion rates across all devices saw double digit growth. Desktop hit 4.6% (21.7% YoY), tablet comprised 4.1% (12.3% YoY), and smartphones encompassed 1.8% (16.2% YoY).
Regardless of the channel customers use to place orders, deep discounts are likely motivating shoppers early in the season. The top selling kids toys include Spin Master Hatchimals, PJ Masks branded items, Hasbro Baby Alive, Nintendo’s Switch and Super Mario Odyssey, Microsoft Xbox and Sony PlayStation 4.
Top selling electronics include Apple AirPods and laptops, Samsung tablets, as well as Lenovo, Dell and HP laptops. Revenue from smartphones is on the rise at 24% of purchases, up 40% YoY; while conversion rates for smartphones also saw double digit growth at 1.9% (up 16.2% YoY).
However, these discounts are impacting sales volume. Specifically, sales of TVs are down 10.8% since Oct. 1; computers dropped 5%, and toys are down 9.8%, according to data.