The holidays are here, and retail marketers are already off and running with campaigns for the year’s biggest shopping season. But it’s not too late to make your marketing list and check it twice, or to tuck away knowledge of new consumer shopping habits for next year’s plans.
In the spirit of giving, Adobe Digital Index (ADI) annually takes the pulse of consumer behaviors. ADI’s 2014 Holiday Shopping Prediction shows that consumers are looking for deals earlier than you might expect. And from researching deals to purchasing products, consumers are increasingly turning to mobile devices, which is why mobile must be priority #1.
Here are two important seasonal trends to watch.
1. Black is the New Black
Cyber Monday has historically been the biggest online shopping day of the year. But watch out—Black Friday has the potential to outpace Cyber Monday as the top day for online sales. Maybe consumers need something to do to shake off their turkey overdoses. Perhaps they want to get their shopping done a few days earlier, and we know they are picking up online orders in stores earlier than they did in the past. Regardless, if this trend continues, Black Friday is likely to leap over Cyber Monday in 2015 as the biggest online shopping day of the year.
ADI predicts a 28 percent jump in online sales for Black Friday between 2013 and 2014, compared to a lower 15 percent gain for Cyber Monday. Even Thanksgiving Day is expected to grow much faster than Cyber Monday, making us wonder if consumers will opt to shop versus nosh.
Black Friday is also expected to feature lower online prices than Cyber Monday, as retailers start to stretch their deals and promotions across November. Earlier shopping is also spurred by the likelihood that items will be in stock. These trends are removing the focus from one big day of shopping.
2. The Gift of Mobile Shopping on Black Friday
Black Friday is on track to produce the most mobile revenue of all the peak shopping days, 54 percent more than Thanksgiving and 24 percent more than Cyber Monday.
ADI predicts total Black Friday sales in 2014 of approximately $2.48B, with about $644M coming specifically from mobile sales—or 26 percent of the overall Black Friday revenue. For Thanksgiving, total sales are estimated at $1.35B, with $418 million (31 percent) from mobile sales. Cyber Monday total sales are forecasted at $2.6B, with $520 million (20 percent) attributed specifically to mobile engagement. What’s clear is the importance of mobile sales on Black Friday—and mobile’s role in driving new sales on that day is likely to increase.
This presents significant opportunities for retail marketers to win or lose on Black Friday, depending on how they approach their mobile strategies.
As consumer shopping behaviors change, retailers must adapt by reshaping the overall shopping experience by using different sales timeframes and product offerings. It is thus vital for retailers to track the trends so they can capitalize on them.
Discover more about the latest trends in holiday shopping by downloading the full findings of the 2014 Holiday Shopping Prediction.