Adobe Forecasts $124 Billion in U.S. Online Sales This Holiday Season
02/11/2018
Thanksgiving Day sales are expected to increase by 16.5 percent, generating $3.3 billion. Nearly one out of five dollars this holiday season will be spent between Thanksgiving Day and Cyber Monday, generating $23.4 billion or 19 percent of total online sales. One extra calendar day between Cyber Monday and Christmas Day will give retailers a $284 million boost in sales. A record number of days will hit new revenue milestones, with 36 days surpassing $2 billion compared to just 22 days in 2017. Most anticipated gifts include 4K TVs, retro video games and consoles, as well as toys like Pomsies, Grumblies and Fortnite Monopoly.
As online shopping surges with another record-breaking holiday season, the retailers with compelling websites coupled with physical store locations will have the advantage, said John Copeland, head of Marketing and Customer Insights at Adobe. Many shoppers want to interact with retailers' products and the brand in-store, and the ability to pick up online orders in-store within a matter of hours can't be underestimated.
Retailers with online and physical footprints are expected to see 28 percent higher conversion online in comparison to retailers lacking a traditional storefront. Adobe Analytics data anticipates shoppers increasingly buying online and picking up items in-store (BOPIS) during the holiday season. BOPIS has increased 119 percent since January 2018 across all retailers and over 250 percent for large retailers**. A survey of over 1,000 U.S. consumers shows nearly half (47 percent) expect to browse in-store for a product they intend to buy online later, jumping to 58 percent among millennials.
Additional predictions include:
Top-selling products: Adobe predicts one percent of SKUs will drive a record 70 percent of sales during the holiday season, 30 percent more than during the rest of the year. 4K TVs, as well as retro video consoles and games such as Tekken 3, Ridge Racer Type 4 and Final Fantasy VII, are expected to perform well for the second consecutive year. Top toys include Fingerlings, Fortnite Monopoly, Grumblies, Hatchimal Hatchibabies, Jurassic World Jeep Wrangler, LEGO Harry Potter Hogwarts Great Hall set, and Pomsies.
Best days for deals: Black Friday reigns supreme for discounts on electronics, including tablets (discounted at 33 percent), TVs (22 percent) and computers (16 percent). On the Sunday before Cyber Monday, shoppers will see the best deals on apparel (22 percent), appliances (18 percent) and jewelry (five percent). Cyber Monday will see the largest discounts on toys (19 percent), Giving Tuesday for furniture and bedding (14 percent) and Thanksgiving for sporting goods (13 percent).
The mobile revenue opportunity: Smartphones continue to gain share as consumers' preferred devices for online shopping, representing 48.3 percent of visits and 27.2 percent of revenue. Mobile revenue is up 11.6 percent YoY. Yet, completed cart orders happen over 20 percent less on smartphones than desktop, as a result of abandonment from sub-optimal checkout experiences. Closing this gap equates to $9 billion in mobile sales. Tablets are on the decline, making up 8.8 percent of visits (down 30 percent in four years) and just 9.6 percent of sales. Consumers using mobile apps will spend more time browsing and complete sales two times more often than on the web.
Emerging shopping trends: Voice-assisted shopping is on the rise, with 21 percent of consumers reporting they are planning to reorder frequently-purchased items and 17 percent placing one-time orders for in-store pickup using their voice activated devices. Adobe expects holiday shoppers to ship and return purchases more often compared to the rest of the year (5 and 18 percent more respectively), and to shop more for experiences like cruises and hotels on Cyber Monday. More consumers will stay home on Thanksgiving Day. Sixty percent report they won't shop in stores on Thanksgiving Day, up from 40 percent in 2016.
Top revenue-driving marketing channels: Retailers will be able to capitalize on loyal customers that go directly to their website to make a purchase, with revenue per visit (RPV) rising the most at 36 percent. Search has the second highest RPV growth at 23 percent, followed by helper sites like RetailMeNot (15 percent) and email at 8 percent.
Social losing value for retailers: Social referral traffic will generate 11 percent less RPV compared to Q4 2016. It is the only marketing channel to see a decline in RPV, despite the increase in referral traffic coming from social. Adobe attributes this to consumers' weakening trust in social networks. Shoppers are also expected to consult social media sites 25 percent less for gift ideas this year.
Methodology
Adobe leverages Adobe Sensei, Adobe's artificial intelligence and machine learning technology, to identify retail insights from trillions of data points that flow through Adobe Analytics and Magento Commerce Cloud, part of Adobe Experience Cloud. Adobe Analytics analyzes one trillion visits to U.S. retail s
LINK: | https://news.adobe.com/press-release/experience-cloud/adobe-forecasts-... |
See more stories from adobe |
Most recent headlines
04/08/2024
Dalet Appoints Santiago Solanas as CEO to Lead Next Era of Growth and Innovation
Dalet, a leading technology and service provider for media-rich organizations, is excited to announce Santiago Solanas as its new Chief Executive Officer (CEO)....
03/06/2024
Dalet and Veritone Reach Agreement to Distribute, Transact and Monetize Media Archives
Dalet, a leading technology and service provider for media-rich organizations, a...
02/06/2024
AE add 3D motion to still photographs
AE add 3D motion to still photographs Brie Clayton June 2, 2024 0 Comments AE add 3D motion to still photographs May 30, 2024COW Featured Resume: Pa...
02/06/2024
Power Tool: Generative AI Tracks Typhoons, Tames Energy Use
Weather forecasters in Taiwan had their hair blown back when they saw a typhoon up close, created on a computer that slashed the time and energy needed for the ...
01/06/2024
How Spotify is Protecting Election Integrity in 2024
Dustee Jenkins, Chief Public Affairs Officer, Spotify With billions of people from over 50 countries heading to the polls to cast their vote, 2024 is shaping u...
01/06/2024
TV Tech Weekly Product News Wrap-Up
Busy this week catching up from the Memorial Day holiday? Our TV Tech weekly wrap-up of all our coverage of new products, services and deployments will get you ...
01/06/2024
Guy Ritchie Behind Young Sherlock' Series on Prime Video
Young Sherlock, with Guy Ritchie directing and executive producing, is a go at Prime Video. Hero Fiennes Tiffin plays Sherlock. Prime Video calls it the origin...
01/06/2024
Caitlin Clark-Cameron Brink WNBA Matchup Draws 724,000 Viewers
The Los Angeles Sparks-Indiana Fever game on Friday featuring the top two WNBA draft picks, Caitlin Clark and Cameron Brink, was the most watched WNBA game on I...
01/06/2024
Lionsgate Names Brian Weinstein Co-CEO of 3 Arts Entertainment
Lionsgate, which increased its majority stake in 3 Arts Entertainment in January, said it named Brian Weinstein co-CEO of 3 Arts....
01/06/2024
Netflix to Launch Video Games For Perfect Match', Too Hot to Handle', Other Unscripted Hits
Netflix is launching four video games based on unscripted series this year. They...
01/06/2024
Broadcast Networks Go Live for Donald Trump Verdict
ABC, CBS, NBC and Fox affiliates switched from their regular programming to carry live coverage of the verdicts in the porn star hush-money trial of former Pres...
31/05/2024
Orange County Expansion Helps Aerojet Rocketdyne Boost Solid Rocket Motor Production
A U.S. Marine fires an FIM-92 Stinger missile during a training exercise in Yuma...
31/05/2024
IAB Tech Lab Expands Open Measurement SDK Capabilities to Support Samsung and LG TVs
NEW YORK The global body that sets technical standards for digital advertising h...
31/05/2024
Study: Max, Apple TV+ Have Fewest 'Committed Customers'
In a new analysis of what services might make up a good bundle and what services might benefit the most from bundling, Antenna has released new data that highli...
31/05/2024
Report: Older SVOD Subscribers Unfazed by Price Hikes Will Drive Revenue Growth
Global SVOD revenues will increase by $116.6 billion by 2031, a growth rate of 13.3% per year over the next eight years, according to a new report from MIDiA Re...
31/05/2024
FCC Media Bureau Incorporates 2020 Census Data into TVStudy Software
WASHINGTON, D.C. The FCC Media Bureau has announced that effective August 1, 2024 the Commission's TVStudy software will incorporate the most recent U.S. Ce...
31/05/2024
NBCU's FAST Channel TNBC to Rebrand as NBC Comedy Vault
NBCUniversal has announced that its FAST channel TNBC will be rebranding to NBC Comedy Vault on June 1 and that the free streaming service will officially launc...
31/05/2024
TVRI Taps Ateme for Transition to 4K UHD OTT Streaming
PARIS Ateme has announced that the Indonesian public broadcaster TVRI is making the transition to 4K UHD OTT streaming using Ateme technologies....
31/05/2024
Marlow Film Studios considering next steps' as council blocks plans
The proposal had received support from James Cameron, Andy Serkis, Paul Greengrass, Richard Curtis, and Jeremy Irons By Matthew Corrigan Published: May 31, 2...
31/05/2024
Skydance submits new Paramount Global bid, Sony talks still progressing'
According to multiple reports, the new bid from Skydance offers a better deal to Paramounts Class B shareholders, who were said to be unhappy with the companys ...
31/05/2024
2024 Rise Awards open for entries
The awards recognise women and companies who are stand-out performers, innovators and leaders in the broadcast media technology industry By Matthew Corrigan ...
31/05/2024
Samsung, LG Adopt IAB Software Kit for CTV Ad Measurement
NEW YORK The global body that sets technical standards for digital advertising has expanded the reach of its measurement software development kit to include Sam...
31/05/2024
The Old Investment Cycles of Broadcast Technology are Being Run Over'
The rise of digital platforms is fundamentally changing the broadcast newsroom and its investment in technology according to Jon Roberts, director of technology...
31/05/2024
Study: Max, Apple TV Have Fewest 'Committed Customers'
In a new analysis of what services might make up a good bundle and what services might benefit the most from bundling, Antenna has released new data that highli...
31/05/2024
State Broadcasters Urge Passage of Broadcast VOICES Act
WASHINGTON, D.C. Fifty state broadcasters associations, including the District of Columbia and the Commonwealth of Puerto Rico, have sent a letter to Congressio...
31/05/2024
EVS Names Richard Katz SVP Operations for NALA region
EVS has announced the appointment of Richard Katz as senior vice president of operations for the North and Latin American (NALA) region. This appointment is par...
31/05/2024
CommScope to Buy Cable Business Assets of Casa Systems for $45.1M
CommScope has announced that it was selected by Casa Systems, Inc. as the highest to acquire Casa's cable business assets and that the two companies have en...
31/05/2024
NAB Withdraws De Niro's Service Award
Robert De Niro won't be receiving the Service to America Leadership Award from the NAB Leadership Foundation after all....
31/05/2024
Viant Integrates With Google Cloud's BigQuery Clean Rooms
Viant Technology said it formed an integration with Google Cloud's BigQuery data clean rooms...
31/05/2024
The CW To Broadcast Snoop Dogg Arizona Bowl
The CW said it will broadcast the 2024 Snoop Dogg Arizona Bowl presented by Gin & Juice by Dre and Snoop Last year, The CW aired the game when it was called Bar...
31/05/2024
Allen Media Makes Carriage Deal With Amazon Fire Channels
Allen Media Group said it made a deal with Amazon's Fire TV Channel that will make content from several of Allen's outlet available via Fire TV and Echo...
31/05/2024
Robert De Niro Will Not Receive Service to America Award
Robert De Niro, announced as the winner of the NAB's Leadership Foundation's Service to America Leadership Award on May 28, will not get the award. The ...
31/05/2024
Comcast Technology Solutions To Manage Channels for AccuWeather
Comcast Technology Solutions was selected by AccuWeather to create, manage and distribute linear and over-the-top video channels....
31/05/2024
Attention to Connected TV Ads Grew in Q1, TVision Study Finds
Connected TV is becoming a bigger deal for consumers and advertisers, according to a new report from TVision....
31/05/2024
A Guitar Solo Trick You've Never Heard Before
By Craig Anderton Let's get right to what this sounds like. It's not quite feedback or tape reverse, it's well, listen to what it does in this blue...
31/05/2024
VEON discloses April YTD trading update at its AGM
31 May 2024 VEON discloses April YTD trading update at its AGM Amsterdam, 31 May 2024 07:00 CEST - VEON April YTD 2024 Highlights Total revenue of USD 1,278 ...
31/05/2024
VEON Announces Its New Board, Names Founder Augie Fabela as Chairman
31 May 2024 VEON Announces Its New Board, Names Founder Augie Fabela as Chairman Amsterdam, 31 May 2024, 16.00 CET: VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam...
31/05/2024
Tribeca Festival and Open AI Announce Sora Shorts
May 31st, 2024 TRIBECA FESTIVAL AND OPEN AI ANNOUNCE SORA SHORTS' Five Commissioned Short Films Created Using Sora Debut at 2024 Tribeca Festival New ...
31/05/2024
In-Venue Technology Wrap-Up: How 4K, IP, and More are Changing the Game Pres Game
In-Venue Technology Wrap-Up: How 4K, IP, and More are Changing the Game Pres Gam...
31/05/2024
UEFA Champions League Final 2024: The Facts and Figures Behind This Weekend's Knockout Between Real Madrid CF and Borussia Dortmund
UEFA Champions League Final 2024: The host broadcast facts and figures for Real ...
31/05/2024
UEFA Europa Conference League Final 2024: Bringing the Broadcast to Global TV Screens With the Production Facts
UEFA Europa Conference League Final 2024: Bringing the broadcast to global TV sc...
31/05/2024
Willow Offers Free 2024 ICC T20 Cricket World Cup Preview via DirecTV, Verizon, Optimum
Willow Offers Free 2024 ICC T20 Cricket World Cup Preview via DirecTV, Verizon, ...
31/05/2024
Women's College World Series: ESPN Brings Live Drone, Two-Point Cabled, and Cinematic On-Field Cameras to Oklahoma City
Women's College World Series: ESPN Brings Live Drone, Two-Point Cabled, and ...
31/05/2024
SVG College Summit Brings Video-Production Industry Together in Atlanta in the Midst of Unprecedented Change
SVG College Summit Brings Video-Production Industry Together in Atlanta in the M...
31/05/2024
UEFA Champions League Final 2024: CBS Sports' UCL Today Studio Show Is Pitchside at Wembley Stadium
UEFA Champions League Final 2024: CBS Sports' UCL Today Studio Show Is Pitch...
31/05/2024
Master of the House' Unveils a Scandalous Tale of Power and Greed on July 18
Back to All News Master of the House' Unveils a Scandalous Tale of Power and Greed on July 18 Entertainment 31 May 2024 GlobalThailand Link copied to ...
31/05/2024
JEEtu Bhaiya is Back: Kota Factory' Season 3 Arrives on Netflix June 20
Back to All News JEEtu Bhaiya is Back: Kota Factory' Season 3 Arrives on Netflix June 20 Entertainment 31 May 2024 GlobalIndia Link copied to clipboar...
31/05/2024
Thales has completed the sale of its Ground Transportation Systems business
Facebook Twitter LinkedIn With around 9,000 employees, Ground Transportation Systems is a global leader in Rail Signaling and Train Control Systems, Telec...
31/05/2024
RT 2FM is the home of music this summer
RT 2FM is the home of music this summer, entertaining listeners across the day and night, with the best music, chat and interviews providing the soundtrack to ...