Holiday Online Shopping Will Grow to $124 Billion

Did you increase the number of gifts you purchased through online shopping this year?  You’re not alone.

With Black Friday beginning with online shopping before in-store, many retailers got a healthy jump in their holiday sales. In a recent CNN article,  Adobe Analytics forecasts that holiday sales (Nov. 1 – Dec. 31st) will rise to at least $124.1 billion in online shopping retail sales in the US alone.  That’s $1 of every $6 spent online during this holiday season.

Already, online shopping sales have increased 18.6% over last year.  And in fact, from November 1st to the first week in December, Americans have spent over $80 billion in online shopping purchases.

More Fun Online Shopping Facts

How are consumers making purchases online?

According to Adobe Digital Insights, 57% used tablets and smartphones.

What’s top on the online shopping purchases list? 

1. Desktop computers 
2. Smartphones, with over 23 billion spent so far, according to Statista
3. Tablets

Which states had the largest average online shopping orders?

• Alaska
• California
• Washington
• New York
• Wyoming

Being from California, I can vouch for contributing this “honor.”  🙂

Which was bigger, Black Friday or Cyber Monday?

1. Cyber Monday with $7.9 billion (the largest online sales day in US history!)
2. $3.7 billion (nearly a billion more than last year!)

Which retailer benefited the most?

No surprise here, Amazon.  In fact, they accounted for 49% of all online sales (as reported 5 months ago, most likely higher during this holiday season).

What about online shopping returns?

Approximately, 72% of shoppers return 10% or less of purchases.

Have you ever abandoned your shopping cart?

I’m curious, I abandon my online shopping cart all the time.  Why?  I guess I’m not sure if I need something and I need time to think about it.  Sometimes I place it in a cart as a “placeholder,” and see if I can find it cheaper somewhere else or I look online to see if I can find free shipping.  

Apparently, abandoned shopping carts are common…

Online shoppers abandon their carts 68% of the time.

It’s estimated that these abandon carts could cause online retailers up to $3 billion in lost sales.

Why do most people abandon their online shopping carts?

1. Due to shipping.  It’s too high
2. Shoppers don’t want to create a  new user account
3. Inconvenient return policy

Nearly 54% of abandoned cart shoppers will return if offered a lower price.  According to Namogoo, 38% of shoppers return to their carts if they receive an email offering a discount on the products in their cart. 

Obviously, the tide has shifted, with online sales being perceived as more secure than in year’s past. 

Shopping online gives shoppers more choices, amazing convenience, and the opportunity to find discount codes or coupons online to use with their purchases.  Online sales will continue to grow exponentially through the next decade.