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Online Retail Gains 45% on Black Friday/Cyber Monday

Posted by Angela Jeffrey on Jan 17, 2020 4:11:25 PM

Are consumers spending more for Holiday In-Store or Online?  During the Black Friday and Cyber Monday weekend, which of the two are getting the lion's share?  We've been watching this for the past five years through a Share of Wallet survey during the seven weeks surrounding the big weekend. The purpose is to see what respondents are spending for gifts at the top retailers.  The data provides insights to our retail clients, so they can tie results to their ad effectiveness results.  We hope it is also useful to you. This year's survey covered 14,110 respondents, or roughly 2,000 per week over seven weeks.

Overall ABX Share of Wallet Results

The ABX Share of  Wallet survey has run since 2015, but since the questionnaire was revised last year, all comparisons here are between 2018 and 2019.  According to this study, differences in brand performance year to year were fairly small.  No competitor made a giant leap from 2018 to 2019, but the Online category did with a huge increase in spend during the Black Friday/Cyber Monday weekend 2019.  

In-Store VS Online Spending over Seven-Week Holiday Period

As you can see below, the overall reported spend In-Store was down from 2018 to 2019 during this 7-week test period, but during Black/Cyber weekend, they converge.  In-store 2018 spend per respondent for this period was $135 while 2019's was only $125.  This finding dovetails nicely with a recent holiday Mastercard report that total holiday department stores' sales fell 1.8%.
Graph showing In-store gift spending
In-Store and Online spending were relatively even through Thanksgiving of 2019.  Online purchases during Black Friday / Cyber Monday week increased online shopping by 45% with online shopping continuing to modestly lead in-store purchases the next two weeks.
Online spending was relatively even through Thanksgiving of 2019.  Online purchases during Black/Cyber then increased online sales by 45%, with online shopping continuing to modestly lead in-store purchases the next two weeks. This kind of dramatic peak for either In-Store or Online has not been seen before. 
Digital Commerce 360 Retail News suggests a reason in their story with Mastercard: as Steve Sadove, senior advisor for Mastercard SpendingPulse, said: "Ecommerce sales hit a record high this year with more people doing their holiday shopping online.  Due to a later-than-usual Thanksgiving holiday, we saw retailers offering omnichannel sales earlier in the season, meeting consumers' demand for the best deals across all channels and devices." 
The average respondent gift spend in the ABX Share of Wallet Survey for this 7-week period in 2018 was $133, and for 2019, was $126.  
Graph showing huge increase in gift spending in online retail

In-Store Pick-up Spending

Now that most In-Store retailers have Pick-Up service, how are they doing?   Again, not much change between 2018 and 2019.  The average per-respondent spend is  $37 in both years. In terms of brand share, Walmart (18%) leads store pickup, but most brands have a credible presence ranging from Best Buy (13%) through Target (10%).
Graph showing gift spending for in-store pickup

 In-Store Spending by Gender

We were very surprised to see this chart, which contrasts In-Store shopping by Males, Females and their average.  Male respondents claimed they spent much more than Females in 2019, likely because they are buying larger items in electronics or perhaps jewelry.  

Graph showing sales In-Store by Gender

 In-Store and Online Spend by Brands for 2019

There were small changes between the retailers year to year, but nothing significant enough to report.  Walmart (32%) leads in-store gift purchases by a 3:1 margin over Target (11%); Best Buy (13%) is second with Kohl’s and Macy’s (9%) tied for 4.th Sears and JC Penney are at (6%).  To see how these share numbers relate to ad creative, see our last post, "Best Retail Ads of the Year?  Why?"

Graph showing In-Store gift purchases by brand Below, for Online, Amazon (44%) dominates online spending with Walmart (12%) second and Macy’s / Target / Kohl’s / Best Buy at half Walmart’ share at 6%.

Graph showing Online gift-giving sales by brand
ABX will continue to run the Share of Wallet survey each year.  If you have questions regarding the survey, please contact us at info@adbenchmark.com.

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