Trends & best practices
What does Cyber 5 indicate for the holiday season?
By Lori Niquette
December 4, 2023
Trends & best practices
By Lori Niquette
December 4, 2023
min read
Cyber 5 is not just a shopping frenzy; it’s a treasure trove of insights that unveils how customer behavior has evolved for the holiday season and what to expect in 2024. So, what are the big takeaways from Cyber 5 in 2024? Let’s dive into the data, unraveling insights that can make or break your holiday season.
Let’s take a look at 3 learnings.
With early holiday sales, traffic rates declined across November and into Cyber 5. Going into Thanksgiving week:
This year, with more time for consumers to browse deals, their views weren’t concentrated on a specific day or time. This meant that every moment of the digital experience needed to be right to ensure customers came back to make that final purchase. Our data showed:
This indicates that more people took the time to fill their carts over the holiday week but wouldn’t commit to a purchase until Cyber Monday.
This Cyber 5 also saw major shifts in how frequently customers buy and how much they spend each time.
Unlike 2022, where consumers planned purchases to fit budgets, major shifts in spending could show that consumers are back to sporadic and frequent purchases based on the best deals. As inflation eases and more deals are available, people are actually making more purchases “in the moment,” focusing on where to find the best deal.
While this has been forecasted, our data confirmed the importance of mobile this year:
The moral of this story? Maximizing investments in mobile apps, including expanded visibility into customer journeys, could drastically improve holiday revenues.
Want to sleigh your holiday season strategy? Browse the Quantum Metric demo library to learn how the platform can empower your team to turn insights into action (we recommend starting with our retail demo for Cyber 5 alignment).
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