This article is brought to you by Retail Technology Review: A peak on top of peak – Ecommerce revenues rise +144% in November, Wunderkind’s data reveals.
Ecommerce revenues saw a ‘peak on top of peak’ during Black Friday week, the latest data from Wunderkind, formerly BounceX’s Marketing Pulse, revealed, with online spending up 144% in November.
Traffic to retailers’ websites saw a significant and sustained spike in visitors from mid-November, up +72% since the beginning of the month, which coincided with retailers starting Black Friday promotions early, but also due to covid-19 pulling festive spending forwards.
With non-essential shops shut due to Lockdown 2, shoppers brought forward peak trading spend for fears of delivery delays, whilst falling consumer confidence – now at its lowest since May* – increased shopper sensitivity to pricing and promotions, making Black Friday discounts even more appealing.
Conversion rates also shot up +107% in the week of Black Friday, Wunderkind’s data showed, with online revenues increasing 144% week-on-week over the same period.
Wunderkind’s data also showed that 2020 was the first year retailers experienced a bigger Black Friday (27 November) than Cyber Monday (30 November), with 65% of brands reporting greater volumes on Black Friday. On average, Black Friday was 30% larger in terms of purchases and revenue. At peak, it reported over 200,000 website interactions per second and over 100million emails sent during the week of Black Friday and Cyber Monday (25 Nov - 01 Dec).
Online revenues during Black Friday week were 3.7x greater than the highest performing week of ecommerce sales during the Spring lockdown, which Wulfric Light-Wilkinson, GM EMEA at Wunderkind, described as a ‘peak on top of peak’:
“Since the first lockdown, the acceleration to digital and the sustained demand for ecommerce has been significant. This Black Friday was hotly anticipated as brands looked to kick off peak Christmas trading. And, with shops in England closed due to the new lockdown, taking out entire sales channels for some multichannel retailers, the pressure on ecommerce to perform was even higher. Luckily, what we saw was a ‘peak on top of peak’, as online revenues rose to more than 3 times as high as the levels seen in the first lockdown.”
“The challenge for retailers now will be sustaining this spend well into the Golden Quarter as we head into December. The cornerstone of maintaining retail performance relies on creating highly targeted, demand-based, engagement strategies, that keep consumers connected to the brand and closes the loyalty loop to keep shoppers coming back.”
* GfK 2020: https://www.ft.com/content/6b246fb6-1e77-47c5-86c5-2fda63c51dbf
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