According to the National Retail Federation (NRF), despite high inflation, skyrocketing interest rates, and harder-to-obtain credit, they’re still maintaining a positive outlook when it comes to retail sales this holiday season. They even cite recent government data revised to show, somewhat surprisingly, that consumers still have some of their pandemic savings left to help fund their holiday purchases. All things considered, the NRF predicts a total YoY overall holiday retail sales increase between 3% – 4% to total between $958.3B to $966.6B.
Back on December 1st, we also shared eMarketer’s report of a 6.1% YoY increase during Black Friday sales alone while Adobe Adobe Analytics reported a 7.5% YoY increase, Mastercard reported an 8.5% sales increase, and Salesforce reported a 9% YoY sales increase. We were pleased to report that Partnerize retail clients had shattered these expectations showcasing an astounding 12% YoY increase in sales revenue on Black Friday alone underscoring exceptional peak performance for Partnerize clients.
Now, as we continue through the thick of the peak retail shopping season, we have further benchmarks to report from November 1st – December 11th. Looking at the global retail client view, from the start of peak to date (11/1-12/12), revenue growth across all retail clients on the platform is up 4% YoY, right on target with the NRF’s prediction.
When looking at retail growth in AMR, we see even higher YoY growth for Singles’ Day, the four days leading up to Thanksgiving, Thanksgiving day, Black Friday and the Cyber 5 period.
Pre-Thanksgiving (defined as the four days leading up to Thanksgiving day), saw the largest YoY revenue increase—up 17% globally and 26% in AMR—consistent with large increases in spend. Although it appears Cyber Monday’s conversion growth was somewhat lackluster, it’s important to keep in mind that most brands were pulling up promotions, as early as Monday, November 20th.
When it comes to the real star of the peak performance show, AOV is up YoY across all key dates during the peak season on the Partnerize platform. In fact, pre-Thanksgiving our global retail client AOV is up 23% and Cyber Monday AOV is up 9%. Singles’ Day saw the biggest YoY jump this year—a whopping 29% increase–for global retail clients.
When looking specifically at AMR and EMEA retail clients’ YoY performance, AOV increases–with similar trend patterns by day–are also worth noting.
Finally, the percentage of revenue on the platform that is coming from new customers across all verticals is up 7% YoY, peak YTD. When it comes to retail clients, globally, This is testament to the channel’s ability to attract new customers. As shown below, Black Friday in particular, drove a very high percentage of revenue from new customers or increased 48%, up 22% YoY.
We’ll continue to provide updates on peak performance across Partnerize but in the meantime, you can check out even more holiday shopping trends and highlights by visiting our Seasonal Resources Holiday shopping Hub right here.