This past week, most of us in the US were largely checked out--enjoying a holiday feast with friends and family and going through our wish lists. However, if you work for a brand or retailer, you likely weren’t totally relaxed. Cyberweek is make-it-or-break-it. When sites get slow or go down all together, it does more than spoil the holiday fun. It costs millions! Our customers, partners, and operations teams make significant investments in strategy and technology to ensure a smooth holiday peak.
Earlier this year, we partnered with CommerceNext and surveyed over 100 leading retailers and DTC brands regarding their investments for the 2019 holiday season. Top investment areas included customer acquisition, mobile optimization, and personalization. Based on data from retailers and brands using Oracle CX Commerce, those investments clearly paid off.
Looking at our aggregated Oracle CX Commerce retail customers, here are some key takeaways from Cyberweek:
- Digital shows no signs of stopping. Each year we see fewer shoppers lining up in the cold for doorbusters and more shoppers using digital channels to grab the best gifts. Collectively, Oracle CX Commerce retail customers saw a 43% increase in traffic on Black Friday this year compared to 2018. The increase in traffic also resulted in not only higher revenue, but also higher average order value (AOV). This should make digital leaders happy since, according to our research with CommerceNext, 75% of brands were planning to increase their investments in acquisition marketing leading up to the holiday shopping season.
- Mobile is where it’s at. Mobile traffic continues to lead and it’s only getting larger. Let’s face it; we’re all addicted to our phones and they can serve as a convenient distraction. In fact, according to our research with CommerceNext, 57% of leading brands and retailers said they plan to invest more in mobile optimization this holiday season. Those investments seem to be paying off. Oracle CX Commerce retailers saw mobile traffic was up 57% compared to 2018.
- Black Friday isn’t the beginning. Promotions started before Black Friday this year, and shoppers bought in. The Tuesday and Wednesday before Thanksgiving saw the largest percentage increases YOY for traffic, orders, and AOV for retailers using Oracle CX Commerce. In fact, revenue two days before Thanksgiving jumped by 68% and AOV saw a lift of 37% compared to 2018. In addition, more people bought on Thanksgiving Day than in 2018. Looking at an aggregate of all retailers using Oracle CX Commerce, conversion increased 28% on Thanksgiving Day in 2019 compared to 2018.