Monetate’s Five Day Global Holiday Ecommerce Analysis Reveals A Drop in Shopping Cart Conversion Rate

NEW YORK–(BUSINESS WIRE)–Monetate,
the worldwide leader in personalization, today released its 2018
analysis of ecommerce activity from Thanksgiving to Cyber Monday. The
annual analysis—derived from 2.3 billion U.S., Canadian and U.K.
consumer touch points across desktop, mobile and tablet in the past five
days—shows a 5.4 percent increase in cart abandonment rates across
Thanksgiving, Black Friday and Cyber Monday from 2017. The findings
indicate that while brands are successfully driving consumers to their
sites—website traffic is up 13.1 percent globally from 2017—consumers
are shopping around before making final purchase decisions at a higher
rate than years past.

More Key Findings:

  • Sleeping in, shopping later: the majority of global Black
    Friday and Cyber Monday purchases in 2018 occurred after 4 p.m. local
    time. In 2017, most purchases occurred at 10 a.m. on Black Friday and
    from 8-10 p.m. on Cyber Monday.
  • Shopping through the weekend on mobile: global mobile traffic
    was 26.6 percent higher on Saturday, November 24 than on Thanksgiving
    Day.
  • North American bounce rates are on the rise: U.S. and Canada
    bounce rates were up compared to 2017 on nearly every day from
    Thanksgiving to Cyber Monday, with an increase of 12 percent on
    Thanksgiving and 5.2 percent on Black Friday in the U.S., and an
    increase of 7.8 percent on Thanksgiving and 5.6 percent on Black
    Friday in Canada. In the U.K., however, bounce rates were down 1.8
    percent on Thanksgiving and 6.1 percent on Black Friday.
  • Washington, D.C. beats out New York in AOV: AOV for Washington,
    D.C. was $159.51 from Thanksgiving to Cyber Monday, while New York was
    $157.32; during the same time period in 2017, New York had the highest
    AOV among U.S. cities while Washington, D.C. had the third highest.
  • Londoners were the highest spenders in the U.K.: London’s AOV
    on Black Friday was £97.77; however, out of a list of 10 cities in the
    U.K. with the most shopping sessions on Black Friday, London had the
    lowest conversion rates (4.21 percent).
  • Canadian shoppers spent more on average: U.S. shoppers spent an
    average of $155.80 per order on Thanksgiving, Black Friday and Cyber
    Monday, while Canadian shoppers had an AOV of $204.60; shoppers in
    Great Britain spent an average of $103.71 per order.
  • Canadian shoppers avoid browsing on Cyber Monday: In Canada,
    page views were down a staggering 96.1 percent on Cyber Monday 2018
    despite AOV increasing 4.3 percent, indicating that shoppers are
    spending less time browsing during the online shopping holiday.

Global Shopping Analysis
Heavy traffic but low engagement
and conversion rates signal that brands are struggling to stand out from
the noise during the busiest shopping period of the year.

In the U.S., 2018 Thanksgiving holiday shopping bounce rates increased
by 12 percent from 2017. Additionally, cart abandonment rates increased
by 2.6 percent and conversion rates decreased by 9.7 percent. Black
Friday shopping in the U.S. revealed mixed results compared to 2017;
while traffic was up 7.7 percent and Average Order Value (AOV) increased
2.5 percent, conversation rates were down 11.3 percent. On Cyber Monday,
AOV was up 3.4 percent, but conversion rates were down 16.2 percent—a
continuation of the YOY trend of U.S. shoppers consolidating purchases
on the biggest online shopping day of the year.

Similarly, in the U.K., 10.4 percent more shoppers abandoned their carts
on Black Friday year over year, while AOV dropped by 19.3 percent in
2018. Cyber Monday 2018 was also a less successful shopping day in the
U.K. compared to 2017, with AOV down 11.1 percent and conversion rates
down 9.2 percent, despite page views being up a whopping 35.4 percent.

In Canada, Black Friday 2018 saw a 5 percent increase in page views and
1.3 percent increase in AOV compared to 2017. However, cart abandonment
rates were also up 6.6 percent, a trend that continued into Cyber Monday
2018, when cart abandonment rates increased 10.4 percent from 2017.

“The holiday shopping period presents tremendous opportunity for
retailers to win new shoppers and convert them into returning customers.
Our data, however, reveals that brands are struggling to take advantage
of this opportunity,” said Stephen Collins, CEO of Monetate. “Retailers
must reconsider their engagement strategies to ensure they are
capitalizing on increased website visits. It’s imperative that retailers
leverage every data point at their disposal to create the best and most
relevant experiences for shoppers.”

Monetate is committed to helping brands activate the signals hiding in
their data to enhance every consumer interaction and maximize customer
lifetime value—particularly during the critical holiday season. The
company recently partnered
with Bazaarvoice, Inc. to offer retailers combined expertise, technology
and support that will enable them to create post-session product
recommendations that turn first-time holiday shoppers into long-lasting,
loyal customers. By embedding Bazaarvoice shopper profiles captured from
billions of shopping signals from its network of over 5,700 brand and
retail websites into Monetate
Intelligent Recommendations
, brands will be able to tailor shoppers’
experiences to reflect their individual preferences and recent online
behavior, rather than their one-time gift-buying.

If you’re a member of the media interested in receiving the latest
ecommerce holiday data from Monetate, contact Monetate@v2comms.com.

About Monetate
Monetate,
the global leader in personalization software for consumer-facing
brands, enables marketers to create experiences with improved relevance
for every customer, increasing their engagement and boosting business
outcomes. Powered by artificial intelligence, the Monetate Intelligent
Personalization Engine makes it easy to test and optimize, segment and
target, recommend products, and even create true 1-to-1 omnichannel
experiences. The company was recognized as an industry leader by two
leading analyst firms in June
2018
and August
2018
. Founded in 2008, with offices in the U.S. and Europe, Monetate
is used by leading brands around the world and influences billions of
dollars in revenue every year for QVC, Newegg, Timberland, Carnival, The
North Face, and hundreds of other market leaders. Learn more at www.monetate.com.

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