Record spending on Black Friday reaches $1.3 billion
Holiday sales are off to the races and the results thus far look very promising for online shopping. Black Friday online sales reached $1.3 billion, an 18.4% growth over 2011, coming in 6% over our initial prediction. These stellar results make Black Friday the largest day after Thanksgiving in online sales ever.
Black Friday online shoppers were in a mood to spend. More shoppers completed a purchase versus last year, a 24% increase YoY (See Table 1) and bought 18% more than last year with average sales of $145 per order (See Table 2). The higher average sales, in particular, appear to have pushed to total online receipts above our original estimate.
Table 1: Conversion Rate
Table 2: Average Sales
Mobile Sales Prediction Exactly On Target: Black Friday biggest mobile shopping day ever.
The increase in mobile online sales contributed to this block-buster sales day. As predicted, on Black Friday nearly one in four online dollars came from mobile users, driven largely by tablet shoppers at 16% and double last year’s mobile sales. Smartphone shoppers were also up 75% over last year demonstrating the strength of mobile devices as a shopping platform as well as online retailer advancements in optimizing their sites to improve mobile shopability. After all, what does everybody do when they’re waiting in a long line? Surf on their phone!
Social Media Prediction Hit the Mark: Pinterest drives more conversion.
Also as predicted, Pinterest continues to capture a larger share of social shopping referrals with double last year’s referral traffic (See Table 3). Pinterest’s gains come at the expense of other social network referrals. Facebook and Twitter share remains unchanged, yet dominant with 76%.
Table 3: Social Referral Traffic Share
Today, on Cyber Monday, the largest online shopping day of the year, we expect the original prediction of 18% YoY growth and $2 billion in revenue to remain true. The 6% increase in Black Friday versus our original prediction may have cannibalized some of the Cyber Monday sales as mobile phones swing purchasing into the weekend but the increased propensity to spend more online should counterbalance the mobile effect. We’ll be posting the actual results from Cyber Monday early tomorrow morning.
Read more about holiday shopping data insights in the following blog posts: