All your New Year’s resolutions are still intact, and that can only mean one thing…it’s only the first week of January. While this time of year may mean different things to different people, to retailers it signifies the end of the bustling holiday season. If you checked Facebook or Instagram during the holiday season, you may have seen a mass of your friends condemning 2016 and all that happened in it, but for retailers, the year could not have gone better.
There are many reasons for this positive retail growth including rising consumer confidence, a stabilizing job market, and the increasing convenience of ecommerce shopping for consumers. To help you get a better understanding of how fruitful the holiday season was for retailers, we have compiled a number of the most intriguing statistics we have come across.
$100B: Online sales during holiday season in 2016 (Forrester)
$3.3B: Total estimated sales from Cyber Monday (Adobe)
50+: Days in 2016 that had online sales of over $1B, compared to 1 (Cyber Monday) in 2015 (Adobe)
76%: Percentage of American’s who used mobile to shop during this holiday season (American Express Spending & Saving Tracker)
43%: Percentage of Americans who say they shop online “Weekly” or “a few times a month” (Pew Research Center)
13%: Increase in unique iPhone activations during the holiday season, compared to a 3% increase for Android devices (Retail Metrics)
11%: Amount the Average Shopper increased their week before Christmas spending, as compared to 2015, helping offset a 3.9% decline in store traffic (RetailNext)
3.6%: Increase in overall holiday sales, compared to that of 13% for online sales (National Retail Federation)
1.5%: Consumers made more, but less expensive purchases on mobile, as compared to desktop. The cost-per-click average increased by 1.5%, but average order value was down 5% (NetElixir)
However, these increases may need to be denoted with an asterisk, as the consumer purchasing landscape has drastically changed as more and more shoppers find themselves buying online. The convergence of in-store and online shopping has created many positives for the consumer, but as a result, has made it more difficult for retailers to get a leg up. For example, consumers are now expecting drastic discounts online and free shipping. Both of these tactics greatly increase attractiveness to consumers, and increase gross-sales, but can also detract from a retailer’s bottom line.
With that being said, retailers will be looking to ride the sales increases into 2017, and continue finding new ways to engage with consumers through mobile.