In this bi-weekly news report we look at how e-commerce momentum is building in the run up to the festive season, taking a glance at the IMRG’s latest report on online retail sales and conversion rates, Cyber Monday’s forecasted e-commerce sales, and reflecting on China’s Singles Day results.
On 14th November the IMRG announced that the online retail market recorded a solid 15% year-on-year increase, according to the IMRG Capgemini e-Retail Sales Index. The Index has recorded 16% growth in online sales year to date in 2013, and also revealed that conversion rates for e-retail as a whole continue to see an upward trend of 4.7% as recorded in October, the highest conversion rate since November 2012.
Following this, one of the most important e-commerce days of the year, Cyber Monday, is just around the corner. Practical Ecommerce writes that sales are expected to reach $2.2 billion this year according to The Adobe Digital Index, up 14% on last year. Separately, Adobe also predicted that approximately one in seven online orders would originate from a mobile device, meaning that mobile e-commerce may be up 40% year-over-year, to more than $300 million on Monday 2nd December alone.
Singles Day, in China, similarly offered record breaking e-commerce sales on the 11th November, with Alibaba (the nation’s largest e-commerce group) sales reaching Rmb35 billion ($5.7 billion), almost quadruple what was sold last year on the US Cyber Monday.
It will be interesting to see how the results of these established ‘big retail days’ compare to one another. Equally, we’ll be keeping an eye on e-commerce figures as Christmas approaches, so stay tuned for more news from the ePN team here!