With the rise of mobile commerce, it came as no surprise that there was a major shift in the way consumers shopped this past holiday weekend. Traditionally, Thanksgiving weekend is characterized by two main shopping holidays- Black Friday and Cyber Monday.
This year, however, retailers saw some major changes. Consumers began their shopping early, beginning on Thanksgiving Day itself, during idle times in the day (perhaps while they were waiting for the turkey to bake!). Research also shows that consumers were shopping online and via mobile on Black Friday which is traditionally a day for in-store shopping. Lastly, there was a substantial increase in the use of mobile devices, whether it was to do research, compare prices, or to buy products.
Here at VMBC we rounded up some interesting stats to summarize the weekend:
- Online sales at midday on Thanksgiving were up 20% compared to last year
- Online sales grew 24.3% on Black Friday
- PayPal saw a 516% increase in global mobile payment volume on Black Friday in 2011 compared to 2010
- The number of PayPal customers shopping via mobile on Black Friday increased 371% compared to last year
- Shoppers using the iPad on Cyber Monday drove more retail purchases than any other device with conversion rates reaching 5.2%
- 10.8% of people used a mobile device to visit a retailer’s site on Cyber Monday, up from 3.9% last year
- In the U.S. consumers shopped via mobile most frequently between 6:00 p.m. and 7:00 p.m. PST on Thanksgiving
Do you think retailers were ready for this shift in consumer behavior? We’re curious to see how many retailers are rethinking their mobile strategy after seeing the changes that occurred!