Key Takeaways
- Ecommerce sales exceeded expectations, yielding 7.5% more than expected.
- Both Amazon and Shopify reported record-breaking sales for Black Friday and Cyber Monday 2023.
- The surge in online sales was a result of convenient deals and mobile shopping preferences.
- If the higher-than-expected sales threw a wrench in your fulfillment, shipping software can help.
Black Friday and Cyber Monday 2023 Sales vs. Expectations
Black Friday and Cyber Monday sales events for peak season 2023 broke sales records again as shoppers worldwide snapped up deals on holiday gifts. Last year, “Black Friday and Cyber Monday 2022 both broke spending records with shoppers spending $9.12 billion and $11.3 billion, respectively,” according to this article.
In comparison, this year’s online Black Friday sales in the US ended up 7.5% higher than expected, according to CNBC, securing $9.8 billion in online sales. US shoppers also jumped on online discounts during Cyber Monday, spending $12.4 billion. This means 2023 brought an additional $680 million on Black Friday and $1.1 billion on Cyber Monday above the previous record.
Considering how uncertain the start of the discount season was, 2023’s sales outcomes prove how unpredictable e-commerce and consumer behavior can be. Ecommerce retailers saw better numbers than expected despite the forecasts for 2023, which were projected downward due to the cost-of-living crisis, inflation, and the war in Ukraine.
Was your business prepared for the unexpected surge in sales? Could you easily scale your fulfillment and shipping operations to meet demand? Events like this underscore the importance of ecommerce logistics software that can cope with sudden demand. To prepare for next year, let’s look at the breakdown of peak season sales for the two biggest online sales channels.
How did online Black Friday 2023 sales compare across different sales platforms?
For the year 2023, demand to purchase products online during Black Friday was highest on popular platforms Shopify and Amazon, as both companies broke their sales records.
The heavy traffic on both platforms points to consumer buying behavior in purchasing not only from a marketplace like Amazon but also from retail websites built on Shopify. If you’re not already selling on these channels, consider adding them to your mix.
Shopify Sales Black Friday and Cyber Monday 2023
Shopify saw $9.3 billion in sales over the Black Friday – Cyber Monday weekend, which was a 24% increase from last year. Top-selling cities making Shopify-related purchases included London, New York, and Los Angeles. This shows that consumers favored online deals, even in areas where they could conveniently visit retail shops.
Amazon Sales Black Friday and Cyber Monday 2023
Amazon significantly increased the number of deals across its website, leading to customers saving nearly 70% more during its 11 days of deals from November 17 through Cyber Monday compared to last year. Amazon sold more than 500 million items from independent sellers alone between Black Friday and Cyber Monday 2023. They did not release the dollar amount for peak season sales, but Amazon did state that it was record-breaking.
Why the increase in online sales for peak season 2023?
Convenience
One of the driving factors that led to increased e-commerce sales was sheer convenience. We saw a large uptick in online shopping during the Covid-19 pandemic, and more consumers than ever discovered the convenience of Black Friday shopping online.
This year’s ecommerce deals drove this even further, with consumers easily accessing deep discounts without leaving their homes to stand in long lines. Add the convenience of Amazon’s fast and reliable delivery service, and it’s easy to understand why many shoppers stayed home and shopped online this year.
Mobile Shopping
Linking to convenience, another reason why online sales soared is mobile shopping. Most people have smartphones, and platforms such as Shopify and Amazon offer mobile-friendly shopping. This leads to quick and easy purchases. According to Shopify, global mobile commerce sales are projected to increase 16.3% year over year to $2.5 trillion in 2024. Comparing deals online (especially on a mobile device) makes shopping easier during sale events like Black Friday.
With generations like Gen Z and millennials increasingly using mobile devices for shopping, including social media apps such as TikTok, we saw an increase in mobile purchases during peak season 2023 compared to previous years.
How will you prepare for Black Friday and Cyber Monday 2024?
If peak season didn’t go smoothly for your business this year, it’s time to consider how technology can help. When exciting sales events drive consumers to exceed projections and buy more than expected, you must be ready to meet demand.
Descartes ShipRush™ is a cloud-based, multi-carrier parcel shipping platform that helps small-to-medium ecommerce businesses (SMB) and omnichannel retailers efficiently ship orders while saving money. It integrates with all your sales channels to easily print shipping labels no matter how many orders peak season 2024 sends your way.