Rakuten Advertising Reveals 2024 Cyber 5 Shopping Trends

Rhea-AI Summary

Rakuten Advertising has released its 2024 Cyber 5 shopping analysis, showing consumers bought more items while spending less during Black Friday weekend. Shoppers spent 5% less per purchase but increased cart sizes by 5%, focusing on early deals and savings across apparel, footwear, and toys categories.

Shopping patterns evolved throughout the weekend, with luxury purchases surging 66% on Cyber Monday compared to Black Friday, while apparel orders dropped 20%. On Thanksgiving Day, consumer electronics saw double the items per order compared to the previous week, despite a 9% year-over-year decrease in spending per order. Beauty brands experienced a 10% increase in cart size but an 8% decrease in per-purchase spending.

The data suggests a clear segmentation of the Cyber 5 weekend, with consumer electronics and beauty dominating Thanksgiving Day, traditional gift categories leading Black Friday, and luxury items trending up on Cyber Monday.

Positive

• Increased shopping cart sizes by 5% during Black Friday weekend
• Luxury purchases increased 66% on Cyber Monday compared to Black Friday
• Consumer electronics saw double items per order compared to previous week
• Beauty brands experienced 10% increase in cart size

Negative

• 5% decrease in per-purchase spending during Black Friday weekend
• 20% decrease in apparel orders after Black Friday weekend
• 9% year-over-year decline in consumer electronics spending per order
• 8% decrease in beauty category spending per purchase

News Market Reaction – RKUNY

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-0.53% News Effect

On the day this news was published, RKUNY declined 0.53%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Shoppers prioritized deals and discounts to pack their online shopping carts while spending less

NEW YORK, Dec. 3, 2024 /PRNewswire/ -- Rakuten Advertising, the leading global affiliate marketing network, reported its 2024 Black Friday and Cyber Monday online shopping trends, revealing shoppers bought more while spending less this holiday season.

During Black Friday weekend, shoppers prioritized early deals and savings, spending 5% less per purchase, while increasing the number of items in their online shopping carts by 5 percent. Consumers shopped across categories like apparel, footwear, and toys and video games, while items in luxury categories at higher price points had a lower share of orders across the network.

"This year, shoppers prioritized price above all else," said Nick Stamos, CEO of Rakuten Advertising. "Our data revealed that shoppers did the bulk of their holiday purchasing early when better deals were available so they could make bigger ticket purchases come Cyber Monday. We saw them stocking up on affordable items at steep discounts before making larger purchase decisions on luxury brands."

Shopping trends shifted on Cyber Monday, with luxury purchases increasing by 66% compared to Black Friday and apparel orders decreasing by 20% after the weekend.

Certain categories saw more success on Thanksgiving Day than during the marquee shopping events that followed. Consumer electronics saw nearly double the number of items per order than the week prior, while the amount of money spent per order declined 9% year-over-year. Similarly, beauty brands saw a 10% increase in shopping cart size, despite shoppers spending 8% less per purchase.

"Categories are starting to own certain portions of the 'Cyber 5' weekend by strategically investing their marketing dollars to provide discounts and incentives at specific days and times," Stamos continued. "We saw consumer electronics and beauty own Thanksgiving Day, traditional gift giving categories like apparel and toys dominate Black Friday, and luxury trend up on Cyber Monday. This trifurcation of Cyber 5 made the busy shopping season seem less competitive and crowded than previous years."

Click here for more holiday trends from Rakuten Advertising.

About Rakuten Advertising
Rakuten Advertising delivers performance-driven, brand-driven, and people-driven ad solutions that help the world's top brands connect with unique, highly engaged audiences – from first impression to final sale. Backed by industry-leading technology, global media properties, and the largest, high-quality partner network, Rakuten Advertising taps into data and experience to develop the strategies and ad experiences that will drive engagement, sales, loyalty, and beyond.

A leader in the industry since its beginnings, Rakuten Advertising is a division of Rakuten Group, Inc. (4755: TOKYO), one of the world's leading internet service companies. The company is headquartered in San Mateo, California, with offices throughout EMEA, APAC, LATAM, and North America. Learn more at RakutenAdvertising.com.

Contact:
Steven Shaw
steven.shaw@rakuten.com

FAQ

What were Rakuten's (RKUNY) main findings for Black Friday 2024 shopping trends?

Rakuten found that during Black Friday 2024, shoppers spent 5% less per purchase while increasing cart sizes by 5%, prioritizing early deals and savings across various categories.

How did luxury purchases perform on Cyber Monday 2024 for Rakuten (RKUNY)?

Luxury purchases increased by 66% on Cyber Monday 2024 compared to Black Friday, showing a significant shift in consumer behavior.

What were the key shopping trends for Thanksgiving Day 2024 according to Rakuten (RKUNY)?

On Thanksgiving Day 2024, consumer electronics saw double the items per order compared to the previous week, while beauty brands saw a 10% increase in cart size despite lower per-purchase spending.