Black Friday and Cyber Monday rode off into the horizon, leaving dust to settle.
And while it was a record-breaking year in terms of revenue, with Shopify and Amazon reporting their best-ever sales periods, there are other metrics to consider.
Not so fast: According to Tinuiti, Google Search Ads rose in sales and orders 16% year-on-year on Thanksgiving, 19% on Black Friday, and then 18% on Cyber Monday.
But while orders went up, the average order value (AOV) saw 5% slower growth than last year, proving shoppers were careful with their spending.
Brick and mortar’s back in style: The same report suggests brick-and-mortar search demand is up, with Modern Retail confirming the trend in their own report.
Nearly 123M people have visited stores in-person… maybe a return to the pre-pandemic levels? Here are some other interesting findings:
- 86% of shoppers expect more deals this holiday season, meaning deep discounts could extend towards the end of the year.
- 59% of Cyber Monday shoppers used mobile to make purchases.
Buy now, pay later (BNPL) increased during Cyber Week as well, with payments through Klarna, Afterpay, and similar BNPL providers jumping 85% compared to the week prior.
According to experts, US shoppers are using BNPL “as a lifeline.”
Why we care: These underlying metrics confirm that Cyber Week wasn’t immune to inflation.
However, they also show that good offers such as discounts and BNPL helped mitigate the effects, and if you implemented them, you might have just passed through the season intact.