As peak season grows near, newly released holiday shopping data from Yes Marketing, shows that Cyber Monday’s popularity with shoppers ballooning last year
Despite a 25% increase in adoption rates by brands, the report finds that conversion rates for Cyber Monday in 2018 increased by a whopping 57% year on year and were almost three times higher than the conversion rates of standard emails.
However, the novelty of Cyber Monday may be wearing off as email open rates are falling year-over-year-- meaning retailers hoping to cash in on the event face steeper competition than ever.
Yes Marketing’s analysis of more than 6 billion emails sent in Q4 2018 also reveals that Black Friday conversion rates in November were double those in December, at 6.1% compared to 3.1%. Cyber Monday’s open rate dropped by 10% YoY, which was also 17% lower than the open rate of BAU messages.
Free shipping was the most effective offer in Cyber Monday emails: driving a 32% conversion rate, while Cyber Monday emails without an explicit offer had a 12.2% open rate, the highest among all Cyber Monday messages. These emails had a 5.9% conversion rate once opened, showing a disconnect between email content and consumer expectations.