Thanksgiving, Black Friday and Cyber Monday are evolving concepts for shoppers and retailers alike. Catching Thanksgiving and Black Friday deals doesn’t require rushing to the stores, or even to the nearest computer. Cyber Monday isn’t just a day. It’s a whole week or more.
Just how much the holiday kickoff has changed is evidenced by retailers’ Google Shopping performance during the bonanza of Thanksgiving to Cyber Monday.
Traffic from the channel jumped 88% over the same five-day period last year, according to our research into a sample of over 300 retailers ranging in size and vertical. Revenue was up 62%, and retailers nearly doubled their investment in Google Shopping over the same period last year — likely due to a combination of surging traffic and an increased number of retailers competing in the channel.
Many retailers throw out the rule book during the biggest shopping days of the year. They often prioritize revenue, customer growth and clearing out inventory over traditional direct response ROI tactics like driving return on ad spend (ROAS).
But the holiday kickoff is also a time to expose new consumers to your brand, reactivate dormant shoppers and acquire a larger share of wallet among existing customers.
This year’s developments in Google Shopping speak to the growing evolution of an opportunity in the channel. Perhaps more important, the results also show how consumers are approaching the holiday season differently and what marketers are doing to adjust.