MyBuys, the leading provider of personalization for multi-channel retailers, has released a special online retail report for Black Friday 2010 based on sales activity from its client base of more than 200 retailers.
Among those companies surveyed, online revenue increased 19% on Black Friday compared with the same day a year ago. There is additional room for optimism as retailer’s reduced their discounting by 10% per dollar spent from year ago levels. Order sales with promoted items present declined 33% this year, and at the same time, revenue and order sales from full-priced items rose 19% from Black Friday last year.
Using 2009 figures to compare, sales on November 26, 2010 tells an interesting story around the estimated $648 million in online sales:
· Total number of online orders increased by 30%
· Total revenue from products sold at list price increased by 19%
· The average order value for personalized transactions increased 9%
· Average order value for non-personalized transactions dropped 1%
In an interview we conducted with Robert Cell, CEO of MyBuys, he noted that sales were up on Black Friday among MyBuys's roster of retailers without heavy discounting, because retailers have been using consumer activity analyzed by MyBuys to make much better product assortments available on a personalized basis to eCommerce shoppers. "They're getting the right products to the right people at the right time."
Significantly, mCommerce accounted for only 0.5% of online sales last year among MyBuys clients, but over ten percent of online sales this year.
He expects data from Cyber Monday (available December 2) to show a 50 percent increast over Black Friday, and 42 percent up from last year.
The Health and Wellness Index was started by MyBuys about 18 months ago to survey their more than 200 users to provide more comprehensive data, more quickly than government statistics could provide.
(See my blog post on the Direct Commerce Systems Forum for Black Friday/Cyber Monday results from iGoDigital's customers.)