Consumers spent a lot of money last weekend – and they did a large amount of it at online retail websites.
Adobe recently released the results of its Digital Index for online shopping as it regards to the weekend following Thanksgiving. The firm found that online sales during Cyber Monday were up by 16 percent year-over-year, and that sales figures for the entire weekend were up by an even more significant margin.
“Retailers earned ten percent of their holiday sales in just the last five days, an increase of 26 percent year over year,” said Tamara Gaffney, the principle analyst for the Adobe Digital Index. “Sales from mobile devices saw the biggest gains with an 80% increase over last year.”
The firm reported that Cyber Monday represented the fifth consecutive day of record breaking online sales, alone accounting for $2.29 billion in retailer revenue. Much of the success obtained by e-commerce outlets was as a result of sales and promotions, however: Adobe also noted that retail promotions pushed online sales up by 39 percent year-over-year, according to their data.
Use of mobile credit card processing pages continues to increase
Adobe reported that 18.3 percent of all sales made through online credit card processing terminals were completed via a mobile device during the weekend. Approximately $419 million was spent via smartphones and tablets during Cyber Monday alone, setting a new record. Tablets accounted for 12.7 percent of all online sales made during the day, outpacing smartphones.
Information reported by the iovation firm supports the idea that consumers are spending more than ever at mobile-based credit card terminals. That company reported that 30 percent of all online retail purchases made in between Black Friday and Cyber Monday this year were conducted from a smartphone or tablet. That represents a 150 percent increase when compared to figures recorded in 2012.
“Over the last couple years, we’ve seen a dramatic increase in the use of mobile banking and now, as evidenced by our holiday shopping stats, we’re seeing a similar rise for retail,” said Scott Olson, vice president of product at iovation. “This is a tipping point for online retail purchases.”
Roughly 15 percent of all retail sales made online this year were completed through a mobile device, according to iovation. This suggests that mobile commerce capabilities should be of the utmost importance to online retailers – perhaps to an even more significant extent than e-commerce capabilities are.Back To Blog