Even as online retailers like Amazon hit company records for Cyber Monday sales, consumers across the web abandoned $24 billion worth of goods in their shopping carts during Black Friday and Cyber Monday.
Meanwhile, retail advertisers saw their efforts convert at a higher rate on Black Friday this year than in 2016. That’s according to data from the online advertising company IgnitionOne, drawn from thousands of retail websites.
- Apparel ($3.7 billion abandoned) and home goods & furniture ($4.3b) saw the highest total value of abandoned merchandise.
- Shoppers abandoned their carts 7% more often on Black Friday than Cyber Monday, as they likely waited until Monday to make a purchase.
- 40% more visitors put items in a cart on Black Friday compared to a typical day in November. That jumps to 50% on Cyber Monday.
- Discount apparel retailers, financial firms, hospitality, and services (including energy, moving, and internet services) had higher Black Friday ad conversion rates year over year, with increased spend.
- Financial institutions (including banking and insurance) were the sole category to see higher ad conversion rates while increasing spend on both days.
- On Cyber Monday, home goods saw a growth in conversion rate while ramping up ad spend. The same companies saw a drop in Black Friday conversion rates despite a YoY spend increase.