As Black Friday and Cyber Monday shopping comes to a close, we’re taking a look at the numbers to see how the holiday shopping weekend compared to last year for our customers. With overall holiday spending expected to increase between 3% and 4% compared to last year, analysts were cautious going into the peak shopping season. In reality, Retail Dive reported that holiday spending grew 7.5% compared to last year.
We’ll dive into how our customers performed on average during the peak shopping week of November 23 through November 27, 2023.
Kibo Peak Shopping Week Highlights
While consumers are trading Black Friday early mornings and long lines with the comforts of their couches and mobile phones, we’re thrilled to see our customers reaping the benefits. Compared to the previous year, Kibo customers saw a 24% GMV growth on Black Friday.
Below is a breakdown of some other average customer highlights.
- Kibo customers, on average, experienced a 15% increase in average order value (AOV) compared to the previous year.
- The average Kibo customer GMV for the peak shopping week grew 21% compared to the previous year.
Industry Trends
According to Retail Dive, mobile shopping is expected to overtake desktop this buying season. On Black Friday, mobile online sales were up 10.4% compared to last year. With streamlined mobile shopping journeys and enhanced mobile performance, our customers don’t need to worry about losing shoppers or increased abandoned carts due to poor experiences.
NRF predicts that consumers will continue their holiday shopping well after Cyber Monday, and expects to see spending levels reach an all-time high in November and December.
Despite the economic uncertainties including high inflation rates, we’re thrilled to play a part in our customers’ successful peak shopping week. Our customers were able to leverage Kibo’s composable commerce solutions to deliver high-converting customer experiences quickly and at a lower total cost of ownership. Kibo’s scalability and extensibility provides the foundation needed for a seamless and revenue-driving holiday shopping season.
To learn more about Kibo’s products, organizations can request a demo or sign up for a free trial today.
About Kibo
Kibo Commerce is a composable commerce platform for retailers, manufacturers, distributors, and wholesalers who want to simplify the complexity in their businesses and deliver modern customer experiences. We are the only modular commerce platform supporting experiences that span Order Management, eCommerce, and Subscriptions. Companies like Zwilling, Ace Hardware, and Coastal Construction trust Kibo to bring simplicity and sophistication to commerce operations and exceed customer expectations.
