October 30, 2019
Record “buy online, pick up in-store” orders to be placed, according to Adobe. Six fewer days in season means $1 billion of potential revenue lost. Here is the Adobe report based on the data:
Based on Adobe Analytics data, Adobe predicts that United States online sales will increase 14.1 percent, totaling $143.7 billion, while total retail spending – both online and offline – is expected to increase 4 percent.
Cyber Monday will set a new record as the largest – and fastest – growing online shopping day of the year, with $9.4 billion in sales, an 18.9 percent increase year over year (YoY).
Online sales between 7 p.m. and 11 p.m. Pacific Time on Cyber Monday are expected to drive more than $3 billion in revenue, with sales conversions nearly doubling during these golden hours of online retail.
Thanksgiving Day sales are expected to increase by 19.5 percent, generating $4.4 billion.
One out of five dollars this holiday season will be spent during Cyber Week between Thanksgiving Day and Cyber Monday, generating $29 billion, or 20 percent of total online revenue this season.
With just 22 days between Cyber Monday and Christmas Day, there are six fewer days of peak holiday shopping days than 2018, translating into almost $1 billion of potential revenue lost due to the abridged time period.
The compressed shopping calendar means that retailers will begin sales earlier than ever before, with each day in November and December surpassing $1 billion in online retail sales for the first time.
The most anticipated gifts include game consoles such as Nintendo Switch Lite and SEGA Genesis Mini, as well as toys such as Owleez, Blume Dolls, Candy Locks, Kindi Kids, and LOL Surprise OMG Swag.
Top-selling video games are expected to include Pokémon Shield/Sword, Shenmue 3, Jedi Fallen Order, Death Stranding and Call of Duty: Modern Warfare.
“The compressed shopping cycle will see retailers launching offers far earlier than ever before,” said John Copeland, head of marketing and customer Insights at Adobe.
“With fewer days to spend, Adobe Analytics predicts that BOPIS – buy online, pick up in store – will be more popular than ever before, with revenue from this delivery method doubling in the week before Christmas as shoppers rush to complete their gift lists.”
Additional predictions include:
Adobe leverages Adobe Sensei, Adobe’s AI and machine learning technology, to identify retail insights from trillions of data points that flow through Adobe Analytics and Adobe Commerce Cloud, part of Adobe Experience Cloud. Adobe Analytics analyzes 1 trillion visits to U.S. retail sites, 55 million SKUs and features 80 of the largest 100 U.S. Web retailers.
Adobe’s analysis spans large, medium and small retailers across over 50 merchandise categories, powered by Adobe Analytics and Magento Commerce Cloud, part of Adobe Experience Cloud, to provide an accurate view of online shopping in the U.S. Advertising insights were derived from analysis of more than 3.2 billion desktop video ad impressions placed between January and December 2018 by Adobe Advertising Cloud. Companion research is based on a survey of more than 1,000 U.S. consumers in October 2019.