Black Friday / Cyber Monday Shopping Cart Conversion Rates

Black Friday / Cyber Monday Shopping Cart Conversion Rates

Happy Cyber Monday! Coremetrics just released a report on Black Friday 2012. It has a ton of interesting digital retail data in it, but of course the following jumped out at me:

  • Conversion Rate up 0.22% YoY
  • Shopping Cart Conversion Rate down 0.38% YoY
  • Shopping Cart Abandonment Rate up 0.20% YoY

Apparel, Health and Beauty, and Home Goods all took hits this year while Department Stores did remarkably (suspiciously) well YoY.

What I’ll be particularly interested in will be:

  • If Adobe SiteCatalyst (Omniture) / Google Analytics provide data, how will it compare?
  • Mobile revenue has grown a ton this year. Mobile purchases accounted for 16% of revenue, up from 9.8%. So how do mobile checkout conversion rates look?
  • Will Cyber Monday show the same slip in shopping cart conversion rate, or will it improve? Cyber Monday does outperform Black Friday for many digital retailers, so I wouldn’t be surprised to see the numbers flipped.

Cyber Monday Update

The data is in from Cyber Monday – and it’s looking a little better than Black Friday.

  • Conversion Rate up 2.10% YoY
  • Shopping Cart Conversion Rate up 1.22% YoY
  • Shopping Cart Abandonment Rate down 0.74% YoY

So great story, right? Maybe not. If you dig in to the data, the lift over last year is inflated by the improvement in Shopping Cart Conversion Rate at Department Stores.

  • Apparel down 5.30%
  • Health & Beauty down 9.75%
  • Home Goods down 1.50%
  • Department Stores up 38.70%

Yesterday I called the department store number somewhat suspicious. Zoom in on Department Store data from the report and you’ll see that AOV is up 54.31% over Cyber Monday 2011. Items per order are down 3.77%, though. If all was the same year over year, that means that the average unit value was up 60.37%! I’m not an economist, but that doesn’t seem to jive with what I understand the shopper behavior to be this year. This could be caused by a major change in the reporting based. If those are same store numbers, there’s a hell of a story to be told.

With the updated data, I’m still ending in the same place. Shopping cart conversion rate shouldn’t be going down. Site experiences are getting better. Promotions are more frequent and more aggressive this year than ever. We have better tools and technologies than ever. These rates should be improving! There is tremendous opportunity here, and the first companies to get it right will beat their forecasts, win market share, and secure better positions against their competitors.

Not to be too grand or anything though, right? Let me know what you think.