Rakuten Advertising Reports Major Trends for Cyber 5 Shopping in 2024
In an insightful release, Rakuten Advertising has documented the shopping behavior of consumers during the 2024 Black Friday and Cyber Monday periods, commonly referred to as the Cyber 5. This year’s trends illustrate a significant shift in purchasing strategies among shoppers, who increasingly aimed to maximize their savings while still fulfilling their holiday wish lists.
According to the report, shoppers were not only drawn to discounts but also demonstrated a notable increase in the number of items added to their online carts. During the Black Friday weekend, consumers spent approximately 5 percent less per individual purchase yet managed to include 5 percent more items on average. This trend reveals that while consumers remained sensitive to pricing, they were also eager to capitalize on early sales, particularly across popular categories such as apparel, toys, and video games. Interestingly, luxury items saw diminished sales volume compared to previous years, indicating a growing preference for value among consumers.
Nick Stamos, CEO of Rakuten Advertising, commented on the data by stating, "This year, shoppers prioritized price above all else." He highlighted that consumers focused their buying early in the season, seeking the best deals to prepare for potential larger purchases as Cyber Monday approached. As a result, affordable items experienced a surge in popularity, with customers taking advantage of steep discounts well before Cyber Monday arrived.
On Cyber Monday itself, a reversal occurred as luxury purchases experienced a substantial uptick of 66 percent compared to the Black Friday weekend. However, the demand for apparel saw a significant decrease, with orders dropping by 20 percent after the initial shopping frenzy of the holiday weekend.
The report also identified some intriguing patterns of shopping behavior on Thanksgiving Day, which notably outperformed some of the subsequent marquee events in terms of specific categories. For instance, consumer electronics saw the number of items per order almost double from the previous week. Despite a year-over-year drop of 9 percent in spend per order, this rise in quantity suggests that shoppers are prioritizing practicality and necessity in their holiday shopping decisions. Beauty brands also benefited from a 10 percent increase in shopping cart sizes, despite a corresponding decline in per item spending.
As we analyze these evolving shopping trends, one clear theme emerges: strategic timing and marketing have begun to dictate success across various product categories. "Categories are starting to own certain portions of the 'Cyber 5’ weekend by strategically investing their marketing dollars to provide discounts and incentives at specific days and times," said Stamos. Consumer electronics and beauty products dominated sales on Thanksgiving Day, while traditional gifts like clothing and toys prevailed on Black Friday, pushing luxury items into the spotlight on Cyber Monday. This distinct segmentation of the shopping period has contributed to lowering competition and crowding from previous years, giving shoppers a clearer path to their desired purchases.
For those looking for deeper insights into holiday shopping, Rakuten Advertising encourages businesses to examine their upcoming marketing strategies and leverage this wealth of data to engage consumers effectively. As we proceed further into the holiday season, these findings offer a crucial understanding of consumer mindsets and can be invaluable for retailers aiming to navigate the competitive landscape of online shopping.
To stay informed and gain more insights about the 2024 Cyber 5 trends, visit RakutenAdvertising.com. As a leader in the affiliate marketing sector, Rakuten Advertising strives to connect brands with engaged audiences to drive sales and loyalty, backed by leading technology and extensive expertise in the industry.
According to the report, shoppers were not only drawn to discounts but also demonstrated a notable increase in the number of items added to their online carts. During the Black Friday weekend, consumers spent approximately 5 percent less per individual purchase yet managed to include 5 percent more items on average. This trend reveals that while consumers remained sensitive to pricing, they were also eager to capitalize on early sales, particularly across popular categories such as apparel, toys, and video games. Interestingly, luxury items saw diminished sales volume compared to previous years, indicating a growing preference for value among consumers.
Nick Stamos, CEO of Rakuten Advertising, commented on the data by stating, "This year, shoppers prioritized price above all else." He highlighted that consumers focused their buying early in the season, seeking the best deals to prepare for potential larger purchases as Cyber Monday approached. As a result, affordable items experienced a surge in popularity, with customers taking advantage of steep discounts well before Cyber Monday arrived.
On Cyber Monday itself, a reversal occurred as luxury purchases experienced a substantial uptick of 66 percent compared to the Black Friday weekend. However, the demand for apparel saw a significant decrease, with orders dropping by 20 percent after the initial shopping frenzy of the holiday weekend.
The report also identified some intriguing patterns of shopping behavior on Thanksgiving Day, which notably outperformed some of the subsequent marquee events in terms of specific categories. For instance, consumer electronics saw the number of items per order almost double from the previous week. Despite a year-over-year drop of 9 percent in spend per order, this rise in quantity suggests that shoppers are prioritizing practicality and necessity in their holiday shopping decisions. Beauty brands also benefited from a 10 percent increase in shopping cart sizes, despite a corresponding decline in per item spending.
As we analyze these evolving shopping trends, one clear theme emerges: strategic timing and marketing have begun to dictate success across various product categories. "Categories are starting to own certain portions of the 'Cyber 5’ weekend by strategically investing their marketing dollars to provide discounts and incentives at specific days and times," said Stamos. Consumer electronics and beauty products dominated sales on Thanksgiving Day, while traditional gifts like clothing and toys prevailed on Black Friday, pushing luxury items into the spotlight on Cyber Monday. This distinct segmentation of the shopping period has contributed to lowering competition and crowding from previous years, giving shoppers a clearer path to their desired purchases.
For those looking for deeper insights into holiday shopping, Rakuten Advertising encourages businesses to examine their upcoming marketing strategies and leverage this wealth of data to engage consumers effectively. As we proceed further into the holiday season, these findings offer a crucial understanding of consumer mindsets and can be invaluable for retailers aiming to navigate the competitive landscape of online shopping.
To stay informed and gain more insights about the 2024 Cyber 5 trends, visit RakutenAdvertising.com. As a leader in the affiliate marketing sector, Rakuten Advertising strives to connect brands with engaged audiences to drive sales and loyalty, backed by leading technology and extensive expertise in the industry.
Topics Consumer Technology）
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