- The study supports the forecast that US Holiday Sales will top $1 trillion for the First Time.
- Around 62 percent of consumers plan to shop on Amazon during Cyber Monday.
- Most US customers (33%) to shop using smartphones.
RTB House, a marketing solutions provider, announced the results of a new consumer survey that support a prediction by eMarketer, who predicted that US holiday sales this season will climb to an all-time high of more than $1 trillion.
The RTB House survey found that 38 percent of American consumers are likely to purchase a product online during Black Friday and/or Cyber Monday. Of that group, 62 percent say they’re most likely to shop on Amazon during Black Friday/Cyber Monday.
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The results are based off a consumer survey conducted via Google Surveys the week of Nov. 4th, 2019 of 1,000 US consumers.
Other survey findings include:
- Everyone is mobile, and brands must reach consumers wherever they are, whenever they are there. Of those likely to buy products online during the two-biggest holiday promotion days, customers are evenly split between purchasing on a smartphone (33%) or laptop (32%+), followed by desktop (20%+) and tablet (14%+).
- Amazon is the clear winner for expected online purchases this year. More than 62 percent of consumers plan to shop on Amazon during Black Friday/Cyber Monday.
- More than a quarter of shoppers say they’ll be searching for deals and will be ready to buy during Black Friday/Cyber Monday. Nearly 27 percent of consumers are likely to click on an offer via a digital ad and buy the product.
- Black Friday and Cyber Monday are no longer confined to just a few days, but instead they’re spreading out research and purchases over a longer period. More than 28 percent of consumers start to research products in early November to buy them during Black Friday/Cyber Monday, more than 25 percent the week of Thanksgiving, eight percent the day before and more than 30 percent are online shopping the day of the two biggest holiday promotion days.
“With so many media stories and a blitz of promotions that put everyone in a buying mood over a longer time period, extending special deals so they’re a week-long event vs. a one-day sale can really boost revenues,” said Gary Burtka, VP of US operations at RTB House. “Brands need to play to deal-minded consumers and consider offering them real-time discounts to spur impulse purchases, and they definitely need to go mobile to capture Millennials, who are big holiday spenders. Gen Y has trended up to purchases of more than $400 each since 2017.”
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Overall, holiday sales represent about 20 percent of annual retail sales in the US, but that figure can be higher for some retailers, per the National Retail Federation. Hobby, toy and game stores report the highest share at about 30 percent.
According to RTB House’s own global data based on thousands of client campaigns, brands see about a 30 percent boost in new customers during Black Friday/Cyber Monday, and sales volumes during the holiday season increase by about 78 percent. Conversion rates from online ad banners also increase by about 3.5X during November because shoppers are ready to buy.
RTB House is a global company that provides state-of-the-art marketing technologies for top brands worldwide. Its proprietary ad-buying engine is the first and only in the world to be powered entirely by deep learning algorithms, enabling advertisers to generate outstanding results and reach their short, mid and long-term goals.
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