This year's holiday season is predicted to be the first with over $100 billion in online sales, with mobile growing in importance. Cyber Monday, the first Monday following Thanksgiving, saw record online sales with $6.59 billion over the course of one day. This represents a 16.8% year-over-year increase, as over $1 billion more was spent this year by consumers compared to Cyber Monday in 2016. The holiday season (beginning on November 1st) has brought more than $50 billion in online revenue.
Mobile grew in strength year-over-year as it set its own record on Cyber Monday representing 47.4 % of traffic throughout the day and 33.1% of revenue. Revenue from smartphones alone came in at $1.59 billion, a 39.2% growth compared to its performance last year. Smaller Retailers, companies with under $10 million in annual revenue, experienced 30% higher conversion rates on smartphones compared to large retailers (companies with over $100 million in annual revenue). Unsurprisingly, the top retail promotion driver was search, driving 41.7% of traffic. Organic search represented 18.8 % of the total, just short of the 22.1% paid search represented.
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Mobile grew in strength year-over-year as it set its own record on Cyber Monday representing 47.4 % of traffic throughout the day and 33.1% of revenue. Revenue from smartphones alone came in at $1.59 billion, a 39.2% growth compared to its performance last year. Smaller Retailers, companies with under $10 million in annual revenue, experienced 30% higher conversion rates on smartphones compared to large retailers (companies with over $100 million in annual revenue). Unsurprisingly, the top retail promotion driver was search, driving 41.7% of traffic. Organic search represented 18.8 % of the total, just short of the 22.1% paid search represented.
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