Stitch Labs, the leading inventory and multi-channel selling platform for retailers and wholesalers, today revealed daily and hourly trends for online retail sales during Black Friday weekend.
Stitch Labs investigated more than 300,000 orders from the Wednesday before Thanksgiving to the Tuesday after Cyber Monday in 2013 to determine when the most popular times are for consumers to shop online. The Stitch Labs data team also uncovered how shopping behaviors vary from shopping carts (sellers’ branded websites), such as Shopify and BigCommerce, to marketplaces, such as Amazon and eBay. The findings can help online merchants to better prepare for the 2014 holiday season, increasing revenue and focusing customer support efforts during peak times. Additional results include:
"The Big Shopping Days" drive 24% more sales for shopping carts than marketplaces during the Black Friday weekend
The data concluded that the “The Big Shopping Days”, Black Friday and Cyber Monday, drive 24% more sales for shopping carts than marketplaces. For every sale a shopping cart receives during the Black Friday weekend, three orders are received on “The Big Shopping Days”. Whereas for every sale a marketplace receives during the weekend, only one and a half sales on “The Big Shopping Days” is received.
Shopping cart sales peak online from 8 - 10 p.m. on Cyber Monday
The most popular time for shopping on Cyber Monday is in the late evening, from 8 - 10 p.m. On Tuesday, shopper’s behavior on shopping carts follows a similar pattern, with a morning peak from 11 a.m. - 12 p.m., followed by sales falling midday to a low from 3 p.m. to 6 p.m. and then peaking in the late evening from 9 - 10 p.m.
Saturday shopping behavior remains steady throughout the entire day on all channels
While on other days during the Black Friday weekend, there are clear peaks and lows of sales, on Saturday, shoppers begin to start shopping around 6 a.m. with sales quickly increasing until 12 p.m. At that point, sales stay consistent throughout the day before shoppers start to head to bed at 10 p.m.
Sunday sales volume beats “Small Business Saturday” by 12%
Even with the “Small Business Saturday” push, the marketing campaign has not yet translated to online sales. The day after Cyber Monday, -a non-high shopping day - sees 13% more sales than Small Business Saturday.
Daily breakdown of most and least popular shopping times
While the most popular time to shop online is typically in the late evening, on Black Friday and Saturday, the most popular time to shop online is from 11 a.m. - 12 p.m. For each of the days analyzed, here is the information on the most and least popular times for sales.
“Small online businesses don’t always see the same impact as large business from major shopping days,” said Brandon Levey, CEO and founder of Stitch Labs. “It’s important for smaller retailers to leverage data more inline with what similarly sized businesses experience. The data we provide helps our customers make smarter, more profitable decisions because it provides a truer representation of small businesses market across multiple channels.”
Data used for analysis was based on orders synced with Stitch Labs from November 28, 2013 to December 3, 2013, which is an aggregation of more than 300,000 orders, totaling more than $16.8M in sales from more than 2,800 small businesses, spanning a wide range of products. Times are based on the local zip code of U.S. shoppers. Retailers can look at the geographic distribution of their customers to determine the most relevant times for their businesses.
To learn more about how Stitch Labs’ inventory control solution helps retailers make smarter business decisions during the holiday season, please visit Holiday Tips for Retailers.
About Stitch Labs
Since 2011, Stitch Labs has been creating software that simplifies commerce, decisions, and life for retailers and wholesalers. The intuitive Stitch Labs platform streamlines inventory, orders and data across multiple channels. It also delivers the most robust integrations with top commerce applications such as Square, Amazon, eBay, Etsy, Shopify, Quickbooks, Xero, BigCommerce and others. To learn more, visit www.stitchlabs.com or reach out to our team firstname.lastname@example.org or on Twitter at @StitchLabs.