Retailers have adapted to constantly pivoting their way of doing business to keep up with the array of socioeconomic, data privacy concerns, and more hitting them at a constant pace. How did these adaptions pay off for retailers, and did consumer spending change? We explore the results of Cyber Week Spend to see whether retailers drove growth.
– JEWELRY –
Jewelry retailers saw the most growth for in-store spending and the total number of transactions of all verticals analyzed. As consumers felt more comfortable returning to stores, jewelry stores reaped the benefit this year for growth. Total transactions rose by 36% for in-store purchases and the total spend increased by 43%. The resulting increase of ATV (average transaction value) for the year is on par with the inflation rate, suggesting that consumers did not buy more for the vertical, but there were more purchasers.
– APPAREL –
Apparel grew – but average transaction value dropped slightly, with a 13% increase in spending and a 17% increase in the number of transactions. Unlike jewelry, when we look at the average transaction value we see a slight dip of 3% in spend per transaction, indicating that consumers purchased less or there were heavier promotions in this space.
– APPAREL –
Apparel grew – but average transaction value dropped slightly, with a 13% increase in spending and a 17% increase in the number of transactions. Unlike jewelry, when we look at the average transaction value we see a slight dip of 3% in spend per transaction, indicating that consumers purchased less or there were heavier promotions in this space.
– DAILY SPEND BREAKDOWN –
Unsurprisingly, Friday saw the most transactions in-store at a 37% increase for YOY growth – and the largest growth. Looking at this year’s progression for in-store spend for the week, in-store transactions declined compared to Friday, falling by 31% on Saturday, and again falling by 23% from Saturday to Sunday.
Aggregating the data of over 70 retailers since launch and over 12,000 stores, flexEngage turns purchase data into meaningful engagement for brands.
The data ran compares year over year for the Thursday (Thanksgiving) through Cyber Monday. These dates are Thursday, November 25, 2021, to Monday, November 29, 2020, compared to Thursday, November 26, 2020, to Monday, November 30, 2020.
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