This year, consumers pulled their holiday digital shopping earlier than ever, marking a massive shift in the peak shopping season. Instead of waiting for Black Friday and Cyber Monday deals to hit, shoppers started turning to their phones and computers the Wednesday before Thanksgiving to get a jump start on holiday shopping, and that momentum carried on throughout the weekend.
For the second year in a row, Black Friday surpassed Cyber Monday as the busiest holiday digital shopping day of the year. Black Friday ecommerce revenue grew by 32% this year and Thanksgiving Day revenue grew by 30%, while Cyber Monday only saw an increase of 15%. Additionally, the combined 26% revenue growth of the three days is nearly double the 15% growth rate in Q3 of this year, revealing not only are consumers shopping earlier, they are spending more.
What’s causing this shift in consumer behavior? A recent report from Salesforce revealed digital commerce, mobile and personalization single-handedly led to retailers’ success not only during these two big shopping days but all of Cyber Week (11/21-11/27).
AI Makes an Impressive Impact
For starters, this year we saw the direct impact of AI on retailer’s success this holiday season. On Black Friday alone, only 6% of consumers engaged with product recommendations but accounted for 30% of all digital revenue, an incredible 5x return on each shopper. This trend continued on…