Data shows that shoppers are expected to spend more during the Cyber 5 period in 2023. Retailers and suppliers rely on tools to handle the volume increase without interruptions. Aarthi Ramamurthy, Chief Product Officer, says the volume of holiday purchases continues to grow heading into the busiest shopping period of the season.
It’s going to be a busy holiday shopping season this year. Consumers are expected to spend more online with a return to double-digit growth at 11.3% year over year.
By comparison, non-e-commerce sales will grow 3% year over year, according to Insider Intelligence.
Black Friday and Cyber 5 online retail sales
Brands, retailers, and suppliers need to have a reliable infrastructure in place to meet the increase in demand during the busiest shopping period of the year.
“Infrastructure – the motto is ‘Don’t mess it up,’” says Aarthi Ramamurthy, Chief Product Officer. “Keep the lights on. Keep it all running.”
Total holiday retail season sales are expected to grow 4.5% year over year compared with 3.9% in 2022.
A good deal of online shoppers are waiting until the Cyber 5 to spend. Cyber Five is the five-day period between Thanksgiving and Cyber Monday. 70% of online shoppers anticipate better deals on Black Friday/Cyber Monday, according to CommerceHub’s “Holiday Shopping Trends 2023” consumer survey results of 1,000 U.S. shoppers ages 18-74.
16.8% of total holiday retail e-commerce sales will occur during Cyber 5, according to Adobe Analytics data.
- 70% of those shoppers are looking for discounts or flexible payment options like buy now, pay later (BNPL) at checkout, according to the CommerceHub survey.
- 66% of online shoppers are leaning toward “essential/cost-effective” items.
- Cyber Week will account for 16% of total holiday retail e-commerce sales this year.
- Cyber 5 sales are expected to grow by 7.5% year over year to $40 billion in the U.S. (sales grew 4% in 2023).
- Cyber Monday will grow by double digits this year. The period is expected to be the biggest sales day at $13 billion.
What sells the most on Black Friday, Cyber Monday?
Every year, the volume of holiday purchases are at bigger and bigger scale, Ramamurthy says. CommerceHub brands, retailers, and suppliers experience record volume selling through marketplaces and drop shipping. Ramamurthy expects the same momentum going into the 2023 holiday season.
CommerceHub also helps customer provide same-day delivery, buy online, pick up in store (BOPIS), last-mile logistics and perishables delivery, for products like flower delivery, for example. Which is top of mind for consumers as 52% of CommerceHub survey respondents said that delivery delays will impact their decision to buy again from that retailer.
“We expect these areas to drive a lot of demand for our customers,” Ramamurthy says.
According to the CommerceHub survey, consumers intend to buy more gifts but will spend less.
- 39% – Consumers who plan on buying more gifts than last year.
- 49% – Consumers uncertain about the economy and therefore plan to spend less.
To learn more about CommerceHub solutions to power you through the holiday season and beyond, please contact us.
To download the latest Holiday Shopping Trends 2023 consumer survey and see which categories top the list for gift-giving items, visit here.