SAN JOSE, Calif.--(BUSINESS WIRE)--Dec 3, 2024--
Consumers’ record-breaking Cyber Five buying spree drove online sales for the crucial five-day period up 6% in the U.S. over the same period last year, a positive sign for the remainder of the holiday shopping season, data from commerce protection provider Signifyd shows.
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The solid, if not stellar, performance was in line with findings by Salesforce and Adobe, which put online sales growth for the period at between 7% and 8.2%, based on differing methodology. The stretch of holiday spending is a sign that inflation-weary shoppers are still willing to spend, but that they are also intently focused on getting the best value for their money.
Signifyd Cyber Five data also showed:
Cyber Five 2024 sees record-breaking sales days
Online consumers in the U.S. spent a combined $41 billion during the Cyber Five, according to Adobe. Shoppers patronizing the thousands of merchants on Signifyd’s Commerce Network broke sales records during the long weekend stretching from Thanksgiving through Cyber Monday.
“The holiday home stretch looks very positive for retail based on the sales volume Signifyd merchants saw over the Cyber Five,” Signifyd CEO Raj Ramanand said. “Consumers on Signifyd’s Commerce Network spent billions on the period’s key shopping days, at times surpassing a rate of a million dollars a minute. Our merchants were clearly ready for the biggest event of the year and we’re all heartened to see the success they achieved.”
Cyber Week provides momentum for the final push in a shortened shopping season
The year-over-year increase in sales sends a positive message to merchants who this year face a compressed traditional holiday period between Thanksgiving and Christmas.
On Cyber Monday, online sales were up 2% with general merchandise and luxury goods leading the way, Signifyd data shows. Overall sales on Cyber Monday fell below Signifyd’s pre-season projection, another sign that the impact of big shopping-event days might be waning.
Consider how sales were pulled forward in the lead up to the Cyber Five. Online sales spiked — up 15.7% year over year — in the week preceding the Cyber Five, according to Signifyd data, an indication that consumers are not tied to the traditional shopping calendar.
Shoppers also remained focused on finding good deals and lower prices — a value consciousness that appears to be the new normal. This year, 35% of orders included a discount code, up two percentage points from last year. And the size of the average discount increased to 28.8%, up from 26.5%.
Consumers continued to trade down — presumably opting for lower-priced versions of coveted gifts. Shoppers added 5% more items to their digital shopping carts this Cyber Five compared to a year ago, but the items selected were on average 6% cheaper than last year.
About Signifyd
Signifyd provides an end-to-end Commerce Protection Platform that leverages its Commerce Network to maximize conversion, automate customer experience and eliminate fraud and consumer abuse risk for retailers. Signifyd has seen more than 650 million unique shopper wallets 1 globally, meaning that 98% of the time when a shopper comes to a Signifyd-protected site, Signifyd’s machine-learning models recognize the shopper instantly. Signifyd, which is the leading provider of payment security and fraud prevention for the Digital Commerce 360 Top 1000 Retailers, is headquartered in San Jose, CA, with locations in Denver, New York, Mexico City, São Paulo, Belfast and London.
1 A digital wallet is a distinct combination of signals present in an online transaction.
Cyber Five ecommerce sales 2024 vs. 2023 (Graphic: Business Wire)
