As the hustle and bustle of Black Friday and Cyber Monday winds down, it’s time to reflect on how this year’s peak shopping week unfolded. Analysts had tempered expectations for holiday spending, predicting anywhere between 2.5% (NRF) and a 4.8% (eMarketer) increase over last year. However, the reality was brighter—holiday spending soared by an impressive 7.3% year-over-year.
For Kibo customers, the story was one of resilience and high growth, surpassing the expected market outcomes. Here’s a snapshot of how businesses using Kibo’s solutions fared during the critical shopping window across Cyber 5—November 28th to December 2nd.
Key Highlights from Kibo’s Peak Shopping Week
Consumers are increasingly prioritizing the ease and convenience of online shopping, favoring clicks over crowds. This shift was evident in the impressive results achieved by Kibo customers during the season’s most critical shopping period. Here are some standout metrics:
- Total GMV Growth: Kibo customers across industry sectors saw an average GMV growth of 10.3% during the peak shopping period, surpassing broader industry trends.
- Sporting Goods & Outdoor: A standout performer, this category experienced a staggering 130.12% YOY GMV increase.
- Retail, Apparel & Accessories: This category achieved remarkable growth, with a 53.86% year-over-year (YOY) GMV increase. This is significantly more than broader industry metrics: Globally, handbags and footwear saw growth at 13%.
- Hardware & Building Materials: Clients in this sector reported a 20.12% YOY GMV increase.
- Order Volume: Across industries, Kibo clients achieved an 11.21% increase in order count compared to last year’s strong shopping week.
These results highlight how Kibo’s clients are leveraging strategic approaches to succeed in a competitive landscape. Despite a shorter holiday shopping season between Thanksgiving and Christmas, many are capitalizing on early and extended promotions to drive results. By ensuring inventory availability and adapting to consumer demand, Kibo customers are turning these challenges into opportunities—reflected in their impressive year-over-year growth across diverse industries.
A Broader Look at Holiday Shopping Trends
The success of Kibo customers mirrors broader seasonal trends. According to NRF, shoppers prioritized convenience, with 126 million choosing in-store shopping over the weekend (up from 121.4 million in 2023), while 124.3 million shopped online (down from 134.2 million last year).
Black Friday remained the busiest shopping day, drawing 81.7 million in-store shoppers—the highest since the pandemic—and 87.3 million online. Cyber Monday followed, with 64.4 million online shoppers, 63% of whom used mobile devices, up from 55% last year.
Thriving Despite Economic Challenges
Even in a landscape marked by economic uncertainty, including inflation concerns and declining savings rates, Kibo customers were well-positioned to capture growth. Leveraging Kibo’s composable commerce solutions, they delivered high-converting customer experiences that adapt to changing market demands.
Kibo’s platform, designed for scalability and extensibility, empowered retailers to meet the surge in holiday traffic while maintaining a lower total cost of ownership. The result? Seamless shopping experiences that drove revenue during one of the most critical weeks of the year.
As we gear up for the final stretch of the holiday season, it’s clear that innovative commerce solutions and a customer-focused approach continue to make all the difference. Stay tuned for more insights as we close out this exciting shopping season.
