November… a time known for sales. Singles day, Black Friday and Cyber Monday. But what sales day is the most successful?
In this post, we will be looking at five different rounds to determine the best-achieving sales day of 2018. Join us in the battle of the sales to find out.
First, we have “Black Friday”
Secondly, we have ‘Cyber Monday’
And finally, we have the crowd favorite…. ‘Singles Day’!
Let’s kick off round one with average order values!
On Singles Day, SaleCycle clients saw average order values increase 86% higher than other days.
Black Friday average order values decreased 29% compared to previous non-sale days.
And Cyber Monday saw average order values drop to 26% lower than an average day.
There’s a clear winner for this round. Singles day, which is the only discounted shopping day to show an increase in average order values.
In round two, we’re looking at peak sales times!
Singles Day sales peaked at 8pm local time.
Black Friday saw a peak sales time of 9pm.
Cyber Monday experienced a peak sales time of 8pm as well
Peak times are based on consumer behavior, meaning that there is no clear winner here. It seems that this round may have to be a draw!
It’s round three now, the battle of total sales
On the 11th November, Singles Day saw total sales of $31 billion! In 24 hours Alibaba quickly beat their previous record of $25 billion. And $1 billion of that came within the first 85 seconds.
Black Friday sales reached a total of $6 billion.
This year, Cyber Monday recorded an impressive $8 billion in sales.
Singles Day wins the third round, recording almost twice as many sales as Black Friday and Cyber Monday combined.
For round four we’re looking at annual sales growth!
The annual sales growth rate for Singles Day was up 27% from last year. However, this is a growth decrease from previous years!
Black Friday has grown 24% compared to last year.
Cyber Monday is up almost 20% on last year, making it the biggest shopping day in US history.
Although it’s annual sales growth rate is down this year, Singles Day still leaves this round with a point for the highest year on year growth!
Finally, the most anticipated round for us here at SaleCycle is cart abandonment rates…
Despite having the highest sales, our recorded abandonment rates show as 88% on Singles’ Day!
Black Friday’s abandonment rate was 78%. Customers snapped up their selections to avoid disappointment.
Shoppers still had purchases on their mind, as Cyber Monday had an abandonment rate of 82%.
This makes Black Friday the winner of round five with the lowest abandonment rate of 78%
The Most Successful Sales Day
So the winner is clear, winning a total of three out of five rounds it’s time to ring the bell and declare a winner.
As a comparison, Singles Day comes out on top! So it’s time for Black Friday and Cyber Monday to throw in the towel as we celebrate Singles Day’s victory!