eCommerce Toronto Meetup January 2016 - Black Friday and Cyber Monday 2015 Post-Mortem
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Recap of January's eCommerce Toronto Meetup with Derrick Khoo, Director of Customer Insights at Demac Media, discussing retailer performance during Black Friday and Cyber Monday 2015.
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eCommerce Toronto Meetup January 2016 - Black Friday and Cyber Monday 2015 Post-Mortem
- 1. Holiday Shopping Results 2015 Event Recap and Lessons for 2016 Jan 2016
- 2. One story
- 4. Retail sales have faired better in Canada since the financial crisis Data data source: census.gov http://www.census.gov/retail/marts/www/timeseries.html Statistics Canada http://www5.statcan.gc.ca/ Table 080-0020
- 5. BLACK FRIDAY SALES +22.4% CYBER MONDAY +65.5% BOXING DAY +1.0% SO HOW DID WE DO THIS YEAR?
- 6. Cyber Monday dethrones Boxing Day
- 7. Strong Transaction growth across the board
- 8. Traffic growth strongest on Black Friday
- 9. Retailers cut deep to bring sales this year
- 10. Discounts drove stronger conversions
- 11. OTHER COOL OBSERVATIONS SHOPPING AFTER WORK PEAK TXNS CONSISTENT WITH IBM IOS RULES
- 12. Peak sales hours varied BF Peak 10am BD Peak 10am CM Peak 8pm
- 13. iOS users are more valuable customers
- 14. Paid Search and Email battle for second place
- 15. We love feedback Please let us know what you thought of today’s session! http://bit.do/ecomto
- 16. We’re hiring. Like commerce? Let’s talk. dkhoo@demacmedia.com
Editor's Notes
- Notes: 2008 far worse for US than Canada (-2% canada, -8% USA 2008-2009)
- *YoY Comp day This is a representative cross section of canadian merchants, spanning, fashion, homeware, food, instruments and electronics NOTE LY we had an exceptional black Friday at +52.8% growth.
- * Cyber Monday had the strongest growth rate, but in nominal dollar terms, Black Friday eclipsed the other two shopping holidays. In nominal terms, Cyber Monday outperformed Boxing day (the traditional king of Canadian retail days)
- * Cyber Monday had the strongest growth rate, but in nominal dollar terms, Black Friday eclipsed the other two shopping holidays. In nominal terms, Cyber Monday outperformed Boxing day (the traditional king of Canadian retail days)
- One of our successful clothing merchants released their black Friday promotion on Tuesday, but made it an exclusive event which required email signup. A combination of strong brand and an offer that resonated with customers translated to strong sales performance for the week. They closed the Mon-Mon period up ~90% YoY. Tuesday saw 1,XXX% increase YoY
- Another clothing manufacturer adopted a similar strategy, releasing their offer on the Monday. Monday-Sunday. Relative to LY, this merchant had a richer offer Mon-Sun (black Friday offer all week), and in an attempt to salvage their holiday season, had a richer offer on Monday, which made up for the poor week prior. Overall this merchant closed the period + ~2.5%, although at the expense of margins.
- Very positive results for our merchant this holiday season. Despite earlier starts for many of our merchants, in aggregate we did not see strong sales pull forward. The period beat expectations.
- * YoY Nov 28 2014 vs Nov 29 2013. This is an aggregate number across a representative cross section of our merchants Implicit in these stats are the fact that Basket sizes are also up YoY
- Black Friday peak is consistent with IBM findings / http://www-01.ibm.com/software/marketing-solutions/benchmark-reports/black-friday-report-2015.pdf
- On Black Friday, iOS users accounted for a larger share of traffic, converted at a higher rate, and spent more money. Ultimately driving a disproportionate amount of revenue compared to android users. Consistent with IBM findings
- As expected, organic and direct traffic dominated, but email and paid search played an important role as well.
- As expected, organic and direct traffic dominated, but email and paid search played an important role as well.