Peak Week 2016: Thanksgiving to Cyber Monday Success
Dec 7, 2016
During this year’s Thanksgiving – Cyber Monday sales period, retailers in the CJ Affiliate network experienced quite a bit of success in terms of YOY growth in revenue, AOV, and number of orders.
When we looked at the data from a global perspective both the US and the EU markets showed fantastic growth—but each in different ways. Let’s take a look at some of the highlights from this successful shopping season.
Thanksgiving through Cyber Monday Success
The US Network revenue for the days of Thanksgiving through Cyber Monday was up 26% YOY, with an average 8% YOY increase in the number of orders for the time period. Cyber Monday was the busiest day for global retailers in the network, out ranking all other days in both total revenue and total orders. In the US, the number of orders occurring on Cyber Monday was 23% greater than Black Friday. The trend of higher AOVs continued in many categories: AOVs for US orders increased 20% YOY with the greatest increase occurring on Thanksgiving Day, driven by increased order sizes in the Computer Hardware, Virtual Malls, and Consumer Electronics categories.
Weekend Shopping Volumes Surged in the US
In terms of growth, the weekend days between Black Friday and Cyber Monday delivered. Orders to US retailers on Saturday and Sunday increased 12% YOY, exceeding the Black Friday and Cyber Monday growth. Sunday delivered the greatest increase in revenue at 34% YOY growth.
Comparative Benchmarks of US Performance
To create a benchmark of YOY performance for retail revenue in the US during the Thanksgiving – Cyber Monday period, we compared the CJ Affiliate network growth to the Adobe and comScore study of retail growth for that same period. Overall, CJ Affiliate network performance exceeded industry benchmarks in YOY revenue growth in the US.
UK Sales Started Strong and Gained Momentum
Unlike in the US, where November sales started sluggish due to the distraction of the election season, UK November retailers were already averaging 20% YOY growth in number of orders heading into Black Friday. Strong promotions during the Thanksgiving – Cyber Monday period led to 60% YOY growth in number of orders and 32% growth in revenue for that time period.
Increased Orders Grows Collective EU Market Revenue 29%
Consistent across the rest of the EU market was strong growth in number of orders due to increased shopping activity (clicks), most notably on Wednesday, November 23 and Cyber Monday. For the November 21 – Cyber Monday time period, clicks in the EU increased 87% YOY. In comparison, clicks in the US increased 12% YOY for the same time period. Yet, unlike the US where AOVs increased 20% YoY, AOVs in the EU declined 25% YOY thus curtailing even greater revenue gains, though a 29% YOY revenue growth is nothing to scoff at.
With a few weeks to go during the 2016 holiday retail season, there are still a number of opportunities for revenue growth. Stay tuned as we discuss these in more detail in an upcoming post.