Monetate, the leading personalization platform that helps build personal and meaningful digital connections between brands and their global customers, today announced its customers’ 2023 Cyber Week results. The data supports the continued strength and importance of this five-day span, from Thanksgiving Day through Cyber Monday, with another record year. On average, up to 30% of Monetate clients’ yearly revenue can come from this period.
During Cyber Week 2023, Monetate’s client base, tracking over 800M customer sessions, reached $4.8B in total sales, a 10.1% YoY growth. This is ahead of other projections, including those from The National Retail Federation, that predicted that holiday spending would grow between 3% and 4% in November and December. Cyber Monday delivered the biggest YoY growth of the five-day event, clocking in a 12.7% increase compared to 2022. As the numbers are tracking now, Monetate is predicting that YoY spend will also be higher in December as we finish out the year.
“The peak period, particularly Cyber Week, is like the Super Bowl to our clients,” explained Monetate CEO Brian Wilson. “The stakes are high, and it’s our job as partners to gear up and ensure that Monetate is ready to scale to take advantage of the huge boost in holiday shopping. With less than a month left of peak season, our customers continue to examine their individual results and tweak their websites, mobile apps, and other digital channels to outpace competitors.”
During Cyber Week 2023, when comparing Black Friday and Cyber Monday, Monetate clients saw the most sessions on Black Friday across mobile. While there were fewer desktop sessions on Black Friday, they boasted a higher conversion rate, 4.8% compared to 3.5% on mobile. Cyber Monday saw a similar trend, with phones again leading the number of sessions, but sporting a lower conversion rate (3.5% versus 5.1%). This trend held true across Cyber Week, with mobile phones seeing the most traffic, but desktop converting at a higher rate (4.1%) compared to mobile phones (3.1%).
Regionally, the United Kingdom displayed weaker growth when compared to the rest of the world. According to Barclays the volume of transactions on Black Friday was down by 0.63% in the UK compared to 2022, supporting Monetate’s findings.
Personalization across various devices continues to be complicated, with certain shoppers seemingly relying on mobile for browsing purposes and desktop for conversion reasons.
Monetate Personalization, named the #1 Personalization Vendor to the IR1000 by DC360, helps top retailers and brands all year long to build compelling and tailored customer experiences across channels and devices that can respond to real-time changes in customer behavior, ensuring that brands can capture business during the most critical times of the season.
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