In the news release, SimilarWeb Intelligence Report: Amazon's
Cyber Monday purchases down 44% YoY, issued 04-Dec-2020 by SimilarWeb over PR Newswire, we
are advised by the company that the headline has been adjusted to
read, "SimilarWeb Intelligence Report: Amazon's Cyber Monday
purchases down 14% YoY", and the third paragraph has been adjusted
to read, "The adjusted growth rate shows Black Friday purchases are
actually down 23% and Cyber Monday down 44%, versus +18% and -14%
respectively on an unadjusted basis." The complete, corrected
release follows:
SimilarWeb Intelligence Report: Amazon's Cyber Monday purchases
down 14% YoY While 2020 proves to be the biggest online holiday
shopping season to date, this increase is due to a year-long
behavioral shift towards online shopping Adjusted growth rate to
account for 2020 online shopping habits shows decreases in purchase
activity this holiday season
NEW YORK, Dec. 4, 2020 /PRNewswire/ -- SimilarWeb,
leading provider of digital market intelligence, today released a
report on the 2020 Holiday Shopping Season. Driven by COVID-related
demand, elevated digital shopping levels throughout 2020
established a new baseline. When considered against this new
baseline, Amazon's 2020 holiday performance to date has lagged
behind 2019.
...both days failed to generate the "lift" in purchasing we've seen
historically from Black Friday and Cyber Monday.
In a normal year, product views increase 135% on Black Friday
and purchases rise a staggering 169% vs. the leadup week. In 2020,
the leadup week features both elevated product views and purchases
(34% and 54% increase), as consumers have shifted their shopping
habits to be online, all year. Based on the elevated levels, this
requires SimilarWeb to calculate an adjusted growth rate for 2020,
determined by assessing the spike in purchases on Black Friday and
Cyber Monday versus the two weeks prior in 2019, and applying the
multiplier to our 2020 estimations.
The adjusted growth rate shows Black Friday purchases are
actually down 23% and Cyber Monday down 44%, versus +18% and -14%
respectively on an unadjusted basis.
"The initial results for Amazon's Black Friday and Cyber Monday
are complicated. In raw terms, purchase volume for Black Friday was
up YoY and Cyber Monday down. However, if we adjust the
numbers to account for the unique shift to digital commerce we've
experienced in 2020, both days failed to generate the 'lift' in
purchasing we've seen historically from Black Friday and Cyber
Monday." — Greg Malen, VP Solutions
at SimilarWeb
Top Categories
Unlike Prime Day, where the top
purchased categories mirrored an "average" shopping day on Amazon,
Black Friday and Cyber Monday introduce a heightened demand for
Toys & Games.
Consumers shopping for their kids propelled the category into
the top five (excluding Grocery & Foods), with a 7%
growth rate on Black Friday YoY; however, the growth rate was not
sustained on Cyber Monday.
A persistent theme throughout the pandemic is the propensity for
consumers to shop for their homes. Tools & Home
Improvement and Patio, Lawn and Garden are two
categories that have grown significantly throughout 2020. Both
categories featured double-digit growth on Black Friday and Cyber
Monday.
At first glance, it might be a bit surprising to see a decrease
within the Video Games category, given the launch of the
Xbox Series X and the Playstation 5. High demand and low inventory
led to an increase in product views throughout the holiday, but a
decrease in purchases, as Amazon (and others) struggle to keep the
consoles in stock.
Top Products
The power of the homepage is highlighted
in the fact that Amazon-branded products control five of the top
ten slots on Black Friday and eight on Cyber Monday. This trend is
consistent with October's Prime Day when Amazon-branded products
controlled eight of the top ten and half of the top fifty
products.
One major distinction between the two events is purchase volume
— overlapping ASINs were purchased 2-4x more frequently on Prime
Day than Black Friday and Cyber Monday. This highlights that
consumers felt more comfortable buying their Amazon-branded devices
on Prime Day, and potentially that Black Friday and Cyber Monday
are a better showcase for more long-tail items in the Amazon
marketplace.
For SimilarWeb's continued coverage on the 2020 Holiday Shopping
Season across multiple mediums, industries, and product categories,
visit https://www.similarweb.com/corp/2020-holiday-shopping/.
All product and company names are trademarks™ or registered®
trademarks of their respective holders. Use of them does not imply
any affiliation with or endorsement by them. SimilarWeb insights
are estimations and extrapolations based on information obtained
from third parties. SimilarWeb shall not be held responsible
for the accuracy of or any omissions from its data.
About SimilarWeb:
As the most trusted platform for
understanding online behavior, millions of people rely on
SimilarWeb's estimated insights daily to strengthen their knowledge
of the digital world. We empower anyone — from the curious
individual to the enterprise business leader — to make smarter
decisions by understanding why things happen across the digital
ecosystem.
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SOURCE SimilarWeb