Online shopping on Nov. 28—the first Saturday after Thanksgiving, also known as Small Business Saturday—reached $4.68 billion, up 30.2% compared with last year’s Small Business Saturday, according to data from Adobe analytics.
Revenue at smaller businesses (those with $10 million to $50 million in yearly revenue) grew by 294% on Saturday compared with an average day in October, Adobe says. That’s significantly higher than the 160% gain Adobe predicted.
For the holiday season to date (Nov. 1 through Nov. 29), small retailers have seen a 110% increase in online sales on average vs. 112% for large retailers (those with annual revenue of $1 billion and higher).
As is usually the case, conversion rates were significantly lower on Saturday for online visits using smartphones (2.63%) compared with laptops and other devices (5.76%). Adobe says 40% of online shopping for the holiday season so far came from smartphones and 60% came from laptops and other devices.
“Even with the Small Business Saturday push, ecommerce giants are outperforming smaller counterparts in smartphone performance, with 70% better conversion rates this weekend,” Adobe said in a statement. “A big differentiator this year is curbside pickup—retailers who offer this shipping method benefited from a 40% higher conversion rate this past weekend.”
With anticipated shipping cutoff dates and delivery hassles looming, retailers in the U.S. offered the heaviest discounts of the week on Saturday, according to Salesforce. Retailers and brands in the U.S. increased their discounts at a 60% higher rate year over year than those in other parts of the world. Compared with last year, global online sales grew 51% Saturday and website traffic to retailers and brands globally grew 28% on Saturday, Salesforce says.
Adobe Analytics is the data insights arm of software company Adobe Inc. Adobe’s data is based on transactions from more than 1 trillion anonymous online visits to retail sites, including 80 of the top 100 retailers in the Digital Commerce 360 Top 1000. Data estimates from Salesforce are based on more than a billion transactions globally on retail sites that use Salesforce’s cloud services.
American Express launched Small Business Saturday in 2010. The goal is to encourage holiday shoppers to patronize small, local brick-and-mortar businesses.
Small businesses clearly need a revenue surge from holiday spending. Total small business revenue in the U.S. fell 32% as of Nov.16, compared with January levels, according to economic tracking data from Opportunity Insights a nonprofit based at Harvard University. Revenue or businesses in the retail and transportation sector fell more modestly but were down a hefty 21.8% vs. January levels.Favorite