Though Online Retail Traffic Dipped, Conversions Hit A Seasonal High In Cyber Monday Week
The intense purchase research activity seen earlier this season is paying off with conversions, as shoppers plunk down the dough for their gift buys.
After weeks of intense shopping research activity, shoppers last week pulled out their credit cards at a higher rate than we’ve seen yet this season.
Traffic was still up (nearly 3X) as compared to the pre-holiday baseline, but it dipped a few percentage points from the Thanksgiving/Black Friday week.
That’s according to Marketing Land’s Online Retail Shopping Report, which is based on data from HookLogic, a company which gathers data on online retail transactions through the advertising network it runs, allowing brands to run ads on major retailer websites.
Though Cyber Monday was very strong in itself, both traffic and conversion rates were elevated for the entire week. Some retailers continued their Cyber Monday promotions through Tuesday, which resulted in the second-highest traffic on that day.
Conversions, however, had their second-strongest day of the week on Friday, perhaps signaling consumer attention turning from work to weekend pursuits.
When compared to the same time period in 2013, HookLogic saw greater traffic overall through the Thanksgiving and Cyber Monday weeks, with traffic peaking on Cyber Monday and dropping off steeply afterwards.
We’ll be featuring data like this weekly on Marketing Land as a part of our Retail Column coverage through the holiday shopping season. Some additional context can be found here.