US consumers indicated that they’ll spend 55% of their holiday budget online, up from 53% last year. That affected the online holiday shopping season in the US – which is during November and December – achieving a predicted revenue breaks $107.4 billion in 2017, with 13.8% more than online holiday spending in 2016.
Find out the key findings of online holiday shopping season in the US within the year 2017:
An Overview of US Online Holiday Shopping Revenue:
- Thanksgiving weekend generated $13.8 billion of online holiday shopping revenue.
- Cyber Monday still the overall leader with both the highest predicted revenue ($6.6B) and fastest growth (16.5% year-over-year), followed by Black Friday.
- Toys and apparel achieved the highest revenue growth (24% and 17%, respectively) while jewelry trailed the pack with a holiday season decline of 3%.
When Do US Online Shoppers Shop More During Holiday Season?
- Only 22% of shoppers are finished holiday shopping by the end of Black Friday, making Cyber Monday a key day for shoppers.
- The Golden hours of retail were the 3 hours on Cyber Monday (8PM-10PM local time) which bring in more revenue, while conversion rates reach its peak the last hour of Cyber Monday – 11PM-12AM local time.
A Graph Shows the Actual and Predicted Online Revenue During the Holiday Shopping Season in US, 2017
- The report based on measuring 80% of online transactions at the largest 100 US web retailers. Besides, an analysis of 1 trillion visits to over 4,500 retail websites and 55 million SKUs during November and December.
- Companion research based on a survey of more than 1,100 US consumers and more than 440 US retailers that sell products online.