Black Friday And Cyber Monday Signals Positive Shift In 2010 Holiday Shopping Trends
Top 500 Retailers report an uptick in traffic levels, sales and consumer spending over previous years
iGoDigital, the market and technology leader in Personalized Product Recommendations and Guided Selling Tools, released a distinctive e-retailing recap in response to Black Friday and Cyber Monday 2010. Representing sales activity for many of the most successful names in online retail, iGoDigital customers experienced a surge in sales and traffic as 212 million Americans flocked to e-commerce sites and stores over the Thanksgiving weekend, and shoppers didn't stop when they returned to work on Cyber Monday.
"The online results are very strong for retailers as our client base experienced a record breaking site lift of 25% - 45% over Thanksgiving weekend into Cyber Monday. Conversion rates were five times greater when a customer interacted with iGoDigital's Personalized Product Recommendations or Guided Selling Tools," said Eric Tobias, Founder and President of iGoDigital. "Additionally, we noticed an emerging trend as e-commerce traffic began to spike much earlier this year and should continue through the first week of December. This trend can be attributed to retailers front-loading online deals and incentives as early as the Monday prior to Thanksgiving and extending those deals through the entire week of Cyber Monday." iGoDigital customers like Walmart, Amazon and Best Buy used Cyber Monday as a launch vehicle to keep shopping dollars flowing at least through the first week of December.
Additional holiday trends emerged. Across the board retailers are seeing a renewed willingness to spend this holiday season as consumers are aggressively shopping online in search of bargains. There's an added dimension iGoDigital believes contributed to this uptick in online sales, American shoppers' newfound comfort with internet-driven retailers. Online shoppers have become savvy at finding coupons, comparing prices, locating cheaper product alternatives, and exchanging shopping tactics and information about bargains through a variety of channels. Retailers are embracing this movement and were ready and waiting. Prior to the holiday rush retailers invested in websites, applications, widgets, and ecommerce and mobile tools – all with the goal of making it easier than ever for shoppers to find holiday deals. iGoDigital saw 5% of visits from mobile devices to our customer sites, which is more than double the number from 2009. Making these improvements before the holiday season paid dividends this past weekend. Over 106 million people shopped online on Cyber Monday, according the National Retail Federation…The highest traffic levels in five years.
Even though the clock struck midnight to end the Cyber Monday calendar day, holiday season shopping will continue. Based on the strength of Cyber Monday, iGoDigital is predicting an aggressive and profitable holiday shopping season for its client base.
About iGoDigital
iGoDigital is the leading provider of personalization and product recommendation tools the guide smarter retail. Powered by a customer intelligence engine, iGoDigital delivers accurate, predictive and actionable real-time product recommendation tools that guide a retailer's shoppers through a personalized multi-channel shopping experience. The company currently serves many of the world's most successful and respected retail brands, including Best Buy, Walmart, Nokia, Lids and Scholastic.
iGoDigital is headquartered in Indianapolis, IN and was named to the 2008 "Inc 500" list of the fastest growing private companies. For more information, visit www.igodigital.com.
SOURCE: iGoDigital