Double-digit growth in e-commerce sales on “Black Friday” was driven by “surgical shopping,” “social shopping,” more buying made through mobile devices and shoppers spending more per order, according to IBM analysis firm Coremetrics.
“On Black Friday, consumers came, they clicked and they shopped their way across the Internet, and this time, they weren’t just looking for bargains,” said John Squire, chief strategy officer at Coremetrics, in a statement. “Consequently, we’re watching online retail, and increasingly social media and mobile, become the growth engines for retailers everywhere as consumers embrace online shopping not only for its ease and convenience, but as a primary means of researching goods and services.”
The company’s third annual Black Friday Benchmark Report noted several trends:
• Consumer Spending Increases: Online sales were up a healthy 15.9 percent, with consumers pushing the average order value (AOV) up from $170.19 to $190.80 for an increase of 12.1 percent.
• Luxury Goods Make a Comeback: Jewelry retailers reported a 17.6 percent increase in sales. These affluent shoppers appear very willing to open their wallets.
• Surgical Shopping: Consumers know what they want and where to get it.
• Fewer Searches: People are viewing 18.0 percent fewer products on sites than they did last year, suggesting that they are shopping with a specific item in mind and quickly moving on.
• Social Shopping: Consumers appear increasingly savvy about their favorite brands’ social presence, and are turning to their networks on social sites for information about deals and inventory levels. While the percentage of visitors arriving from social network sites is fairly small relative to all online visitors — nearly 1 percent – it is gaining momentum, with Facebook dominating the space.
• Mobile Shopping: Consumers are also embracing mobile as a shopping tool. On Black Friday, 5.6 percent of people logged onto a retailer’s site using a mobile device, a jump of 26.7 percent compared to the prior Friday.
Shoppers are investing more time before buying online, Coremetrics added. Department store websites are the “research engine of choice” for deal shoppers with time spent searching up 17.7 percent from a year ago.
For more details and a link to the full Coremetrics report,
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