2023 Peak Shopping Summary
The 2023 Peak Shopping Period had a number of increases compared to 2022.
Some of these increases show improvement over last year, but some of these increases were less than welcome:
Across all Add People Ecommerce accounts for the entire Q4 Period the spend was up 19% and revenue was up an encouraging 37%!
Great news that is tempered by the fact that cost per conversion rose a whopping 71% meaning that online businesses have had to spend even more than last year to generate sales.
Black Friday Vs Christmas: This year Black Friday took the lead in overall sales, outperforming Christmas by 37% in revenue and 28% in ROAS.
While the first half of December carried on the momentum laid out by Black Friday, performance dropped in the third week leading up to Christmas Day before slowly rising again by New Year’s Eve.
Cost of Living has had an impact on consumer shopping behaviour over the last couple of years and 2023 is no exception.
This Forbes graph outlines the main reasons customers are abandoning their carts based on previous years:
It seems customers start their purchase journey, only to be put off by the additional costs when they reach the checkout page. For more insight, read the rest of the article here.
Valentine’s 2024 Insights: What to Expect in Ecommerce
Valentine’s Day spending trends offer a glimpse into the future of online shopping for the rest of the year.
Here’s a breakdown of the 2023 key findings and strategies for your Ecommerce success in 2024:
- Spending Highlights:
- In-home food and drink dominated spending, with the only positive YoY growth for 2023
- Sweets, flowers, and cards topped traditional gifting searches on Google.
- Categories with the largest search volume in the valentines period included beauty, restaurants, clothing & jewellery
- Valentine’s Macro Trends:
- Gift and flower searches accelerate two weeks prior to Valentine’s Day.
- Demand for chocolates and perfumes picks up in late January and early February.
- 79% of gifting searches are non-branded, emphasising the wide purchase journey.
- Reduced ad depth and CPCs suggest an undervalued market—opportunity for cost-effective customer acquisition.
- Reasons to Buy:
- Reviews impact purchasing decisions as much as product cost.
- Popular search terms include various gift ideas and relationship-specific queries.
- 63% of buyers are willing to invest more in lasting Valentine’s gifts.
- Celebrating Non-Romantic Love:
- +40% YoY searches for ‘Palentines Day’.
- Opportunities to encourage self-love and self-care.
- Increased focus on self-grooming and care during Valentine’s Month.
Valentine’s 2024 offers a unique landscape.
By understanding trends and implementing targeted strategies, your Ecommerce business can thrive throughout the year.
Have you visited our LEAP channel?
LEAP (Learn Ecommerce with Add People) is our exclusive ecommerce Youtube channel which will give you everything you need to know about marketing your ecommerce business successfully.
Here are the top 4 LEAP videos of 2023…
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Key dates for 2024
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