People waking up at ungodly hours to shop. Websites crashing because of awesome sales. Backordered items that won’t ship for weeks. We get it. The shopping culture this time of year gets crazy. Literally.
Chase Paymentech recently released their sixth annual Cyber Holiday Pulse Index, which provides insights into online shopping behavior throughout the holiday shopping season. The report analyzes daily payment processing activity from 50 leading online retailers, and here are some interesting facts about online consumer behavior trends.
-Compared to last year, in the first two weeks of November, online sales are up over 25%.
-The average ticket value is down for the fourth straight year, or 9%.
-The report attributes the smaller average purchases to digital media such as music (Hello iTunes?) and ebooks.
-Many e-commerce sites sell 30-40% off their annual profit during the last two months of the year.
-Cyber Monday is the single largest shopping day of the year, but not by much. People love to shop in the weeks preceding and following Cyber Monday.
-While Black Friday and Cyber Monday are still huge, more people are shopping earlier in the holiday season.
Do these shopping trends describe any of your holiday shopping habits?