Now that the dust has settled after Black Friday 2016, we look at some key shopping stats from the weekend.
1 Abandonment Rates Drop During Sales
Across our clients’ sites, we saw a drop in abandonment rates on Black Friday and Cyber Monday.
Abandonment rates for the rest of the year average out at 75%, but dropped to 67% on Black Friday and 70% on Cyber Monday. This is because shoppers show more intent to purchase on sales days like these.
2 Email Sends Skyrocketed
SaleCycle sent many more abandoned cart emails than usual, thanks to the increased volume of traffic on retailers’ sites.
More than twice the usual volume were sent out on Cyber Monday, and more than three times on Black Friday.
3 Conversion From Click Remained The Same
Volume of email sends increased, but conversions from abandoned cart emails remained steady, at between 28% and 31%.
4 Online Sales Volume
According to stats from Adobe, sales on Black Friday and Cyber Monday 2016 surpassed those from 2015.
A new record was set for online sales, with $3.39 billion spent on Black Friday and $3.34 billion on Cyber Monday.
5 Peak Hours For Sales
Sales peaked early morning on Black Friday, between 8 and 10 AM.
This was also the time when many retailers send out emails advertising their Black Friday sales, and it does also suggest a fair amount of in-work shopping from consumers.
The pattern on Cyber Monday was different. Overall sales volume was lower than Black Friday, while the peak occurred between 8 and 9 PM on Monday evening, perhaps due to shoppers looking for last minute discounts before the sales period ended.