2018’s Thanksgiving, Black Friday and Cyber Monday set records for online sales, but as of Tuesday, there is still a lot of holiday shopping yet to come, according to a survey conducted by Toluna for Internet Retailer.
The survey of 1,002 U.S. consumers found that close to six in 10 shoppers had half or more of their shopping left to do—and that includes 22% that had not even started shopping. Only about 18% said they had their holiday shopping wrapped up by Tuesday. That leaves a lot of opportunities for online retailers seeking to grab holiday sales between now and Dec. 25.
Procrastination seems to have no age bias. Looked at by age group, there was little difference between the percentage of shoppers responding that they had not started their holiday shopping by Nov. 27. There was, however, a large difference in the number of people age 55 and over who reported having their shopping finished (25.3%), compared with those ages 18-34 (9.5%) and ages 35-54 (14.8%).
Asked about their online vs. offline shopping habits during the Thanksgiving though Cyber Monday period, 62% of shoppers said they spent 25% or more of their holiday budget online, while 38% spent none of it online.
A clear majority of the shoppers surveyed shopped at Amazon.com Inc. (No. 1 in the Internet Retailer Top 1000) during the Thanksgiving through Cyber Monday period. After that, the most-cited websites were Walmart.com, Target.com, eBay.com (No. 4 in the Internet Retailer 2018 Online Marketplaces) and BestBuy.com.
According to Adobe Analytics, Cyber Monday, Nov. 26, was the largest online shopping day ever in the United States, racking up $7.869 billion in online sales, representing a 19.3% year-over-year increase from $6.595 billion in 2017. Smartphones alone generated $2.2 billion in online sales, which is a 55.6% increase over Cyber Monday 2017. Prior to that, Saturday and Sunday, Nov. 24-25, generated $6.4 billion in online sales combined, Adobe found.
Adobe’s data is based on an analysis of more than 1 trillion visits to retail sites over a 12-month period and 55 million SKUs. Adobe Analytics measures transactions from 80 of the top 100 U.S. online retailers.
More than 165 million Americans shopped either in stores or online during the five-day period from Thanksgiving Day through Cyber Monday—more than expected, but well below the 174 million shoppers during the same period last year, according to the National Retail Federation. The average U.S. shopper spent $313 over the period, down from last year’s $335.
However, the lower spending for Thanksgiving and the days immediately following isn’t a sign of poor retail demand—instead, it highlights how more shoppers are starting their spending early as retailers pull promotions forward. Walmart Inc. (No. 3 in the Top 1000), Best Buy Co. Inc. (No. 8) and Target Corp. (No. 17) are among the big retailers that unveiled holiday deals in early November to grab bargain-seekers.Favorite