Holiday shoppers are expected to take the season by storm. Here’s what you need to know.
Okay e-commerce retailers:
…Here come the holiday shoppers!
The holiday season (Nov. 1 to Dec. 31) is here, and it looks like it’s going to be a whopper of an online shopping event.
Adobe Analytics predicts $143.7 billion in online spending alone this holiday season. However, the real star of the season will be Cyber Monday.
Cyber Monday 2019 is expected to set a record as the year’s fastest-growing and largest online shopping day. . Online sales are forecast to be $9.4 billion – an 18.9% increase from 2018.
Four hours in particular are being called the “golden hours” of Cyber Monday:
Pacific time zone 7-11 p.m.
Mountain time zone 8 p.m. – midnight
Central time zone 9 p.m. to 1 a.m.
Eastern time zone 10 p.m. to 2 a.m.
Roughly 33% of Cyber Monday’s revenue is expected to come during these four hours. Abode Analytics expects sales conversions to nearly double during these “golden hours of online retail.”
Knowing that these hours will be a large driver of conversions on Cyber Monday, make sure you’re available on chat and are ready to answer questions. Use live view to watch for visitors who may be confused or frustrated. Also, set up auto invites to automatically ask visitors to chat based on their behavior tags.
Print out this graphic below and have it on hand if you need advice as an operator, how to handle multiple chats or ways to save a sale. Click here to read more about handling website live chat.
Handling a shorter shopping season
There are just 22 days between Cyber Monday and Christmas – 6 days fewer than in 2018. Thanks to these missing days, retailers will lose out on $1 billion in revenue. Shoppers are noticing, too.
In a survey from RetailMeNot, more than two-thirds of shoppers said the shortened buying season changed how they shop this year. In addition, 34% said they started looking for deals earlier than in 2018.
Now with Thanksgiving just weeks ago, it’s crunch time for retailers. Although shoppers started shopping for holiday gifts early, that doesn’t mean they are finished. There’s still plenty of opportunities for e-commerce retailers to get in on the holiday season revenue boost.
According to Salesforce data, holiday shoppers are on the lookout for sales and deals:
- 47% of shoppers say they’ll only buy items on sale this holiday season
- Promo codes and sales are the top factors influencing holiday purchases
- The average digital discount on Cyber Monday will be around 29%
- 67% of shoppers say they plan to buy more from online marketplaces like Amazon
Tip: Use a poll or website live chat to offer promotional codes and deals to customers, especially to those on the fence about making a purchase. For example, trigger a poll to offer free shipping for non-local shoppers who have spent more than 3 seconds on your shipping page.
Store owners should also keep an eye on the week leading up to Thanksgiving. Salesforce predicts there will be a 19% increase in global digital revenue on the Tuesday and Wednesday before Thanksgiving.
What’s holding your website back?
Holiday shoppers are here, and people will soon be wrapped around the digital block waiting to nab your great Black Friday and Cyber Monday deals.
Talk to us: How are you preparing for holiday shoppers? Tell us in the comments below.