Shoppers prioritized deals and discounts to pack their online shopping carts while spending less
NEW YORK, Dec. 3, 2024 /PRNewswire/ — Rakuten Advertising, the leading global affiliate marketing network, reported its 2024 Black Friday and Cyber Monday online shopping trends, revealing shoppers bought more while spending less this holiday season.
During Black Friday weekend, shoppers prioritized early deals and savings, spending 5% less per purchase, while increasing the number of items in their online shopping carts by 5 percent. Consumers shopped across categories like apparel, footwear, and toys and video games, while items in luxury categories at higher price points had a lower share of orders across the network.
“This year, shoppers prioritized price above all else,” said Nick Stamos, CEO of Rakuten Advertising. “Our data revealed that shoppers did the bulk of their holiday purchasing early when better deals were available so they could make bigger ticket purchases come Cyber Monday. We saw them stocking up on affordable items at steep discounts before making larger purchase decisions on luxury brands.”
Shopping trends shifted on Cyber Monday, with luxury purchases increasing by 66% compared to Black Friday and apparel orders decreasing by 20% after the weekend.
Certain categories saw more success on Thanksgiving Day than during the marquee shopping events that followed. Consumer electronics saw nearly double the number of items per order than the week prior, while the amount of money spent per order declined 9% year-over-year. Similarly, beauty brands saw a 10% increase in shopping cart size, despite shoppers spending 8% less per purchase.
“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,” Stamos continued. “We saw consumer electronics and beauty own Thanksgiving Day, traditional gift giving categories like apparel and toys dominate Black Friday, and luxury trend up on Cyber Monday. This trifurcation of Cyber 5 made the busy shopping season seem less competitive and crowded than previous years.”
Click here for more holiday trends from Rakuten Advertising.
About Rakuten Advertising
Rakuten Advertising delivers performance-driven, brand-driven, and people-driven ad solutions that help the world’s top brands connect with unique, highly engaged audiences – from first impression to final sale. Backed by industry-leading technology, global media properties, and the largest, high-quality partner network, Rakuten Advertising taps into data and experience to develop the strategies and ad experiences that will drive engagement, sales, loyalty, and beyond.
A leader in the industry since its beginnings, Rakuten Advertising is a division of Rakuten Group, Inc. (4755: TOKYO), one of the world’s leading internet service companies. The company is headquartered in San Mateo, California, with offices throughout EMEA, APAC, LATAM, and North America. Learn more at RakutenAdvertising.com.
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SOURCE Rakuten Advertising
