Holiday shoppers spent $65.15 billion online from Nov. 1 through Dec. 5, which is 14.7% more than they spent over the same period a year ago, according to data released Wednesday from Adobe Digital Insights.
That spending represents roughly 60.7% of Adobe’s predicted holiday spend, which is $107.4 billion through Dec. 31.
This means that 39.3% of total e-commerce holiday shopping dollars, or $42.25 billion, are still left for shoppers to spend online. Adobe’s data is based on analysis of 1 trillion visits to more than 4,500 retail websites and 55 million SKUs.
Consumers have spent more than $1 billion online each of these 35 holiday shopping days, Adobe finds.
“We are well on track for the holiday season to make history and cross the $100 billion mark in online spending,” says Taylor Schreiner, director of Adobe Digital Insights.
Consumers shopping on mobile devices have accounted for 32.4% of the holiday e-commerce spend so far, or $21.2 billion, with $14.6 billion, or roughly 22.3%, via smartphones and $6.6 billion, or 10.1%, via tablets. Numbers are rounded.
Mobile devices have accounted for 48.8% of web visits, with 40.3% coming via smartphones and 8.5% via tablets.
While the conversion rate for consumers shopping on a smartphone has jumped 12.3% year-over-year increase to 2.0%, it still lags well behind the desktop conversion rate, which is 4.5%. The desktop conversion rate is up 10.6% year-over-year. The tablet conversion rate isn’t far behind at 4.3% conversion rate, up 9.6% year over year, according to Adobe.
Even after the Cyber 5 Thanksgiving weekend generated record online sales, online spending has remained strong, Schreiner says.
Ken Cassar, principal analyst at Slice Intelligence says there is still plenty of holiday dollars left for online retailers. Shoppers are getting more comfortable shopping online closer to Christmas, as consumer confidence grows that retailers will deliver packages on time, he says.
In 2016, December accounted for 53% of online holiday spending up from 50% in 2015, according to Slice. Cassar projects the percentage will continue to grow in 2017. However, this year’s growth could be slightly dampened by Christmas falling on a Monday this year, which may drive last-minute shoppers to go to the store on a Saturday and Sunday rather than shop online, Cassar says.
Online retailers should clearly communicate on their website the latest date shoppers can place an order to receive a package by Dec. 25, says Brett Bair, principal strategist at personalization vendor Monetate. This will also create urgency with shoppers, he says.
When the shipping date has passed, online retailers should promote gift cards, Bair adds. Along the same lines of not disappointing shoppers, online retailers shouldn’t send out email promotions featuring products that are out of stock, he says.
Bair also recommends that shoppers look at what has worked so far this holiday season and adjust their site if they can. For example, if more shoppers convert with a “$10 off your order” promotional code opposed to a “35% off your order” code, then showcase the $10 off one.