Plan ahead.
Over the past few years, we’ve seen the holiday rush begin earlier and earlier. And we’ve also noticed that the shopping frenzy is extending beyond the traditional season, with transaction rates in 2013 boasting lifts even after Christmas. These trends make for a lot of opportunity for online retailers, but you need to play your cards right. The most important thing you can do to ensure seasonal success is to plan your digital strategy now. We’ve analyzed transaction behavior from a portion of our Google Analytics accounts over the 2013 holiday season to develop a guide for seasonal success.
Which days drive the most transactions?
In order to develop a successful holiday retail strategy, it’s important to first understand the days that drive the most sales for your business. Once you understand this, you can craft a strategy that optimizes your media and promotion not only for these days, but for the entire holiday season.
As digital retailers are well aware, Cyber Monday is THE digital shopping day of the year. It generates the most transactions of any single day and, in 2013, saw a transaction rate lift of 170% over average. In second place is Black Friday, a day that has increased in digital importance over the last three years. By 2013, the transaction rate on Black Friday was 114% higher than average. Beyond these two stars, the table below shows you the top days in 2013 by transaction volume and the lift in transactions rates on each day.
As digital retailers are well aware, Cyber Monday is THE digital shopping day of the year. It generates the most transactions of any single day and, in 2013, saw a transaction rate lift of 170% over average. In second place is Black Friday, a day that has increased in digital importance over the last three years. By 2013, the transaction rate on Black Friday was 114% higher than average. Beyond these two stars, the table below shows you the top days in 2013 by transaction volume and the lift in transactions rates on each day.
In general, beyond Cyber Monday and Black Friday, the Mondays and Tuesdays before Christmas in December tend to generate the highest volume of transactions. Interestingly, the highest transaction days are not correlated to the days with the most sessions (traffic to your site), so avoid using the top session days as a proxy for the top transaction days.
How can I drive sales on the top transaction days?
The holiday season generates some of the highest transaction rate spikes and the lowest dips for the entire year. In order to drive digital sales successfully, it’s important that you adjust your bids for auction-based media, such as search ads, appropriately to account for higher transaction rates on key dates and throughout the season. As you navigate the holiday season, use the lift in transaction rates over the average transaction rate as your bid multiplier for auction-based media (learn more about bid adjustments). This adjustment schedule reflects the increased value of clicks that are more likely to convert, and helps ensure that you stay ahead of competitors and get in front of the right consumers. The transaction rate lift for the top days are shown in the table above, while the chart below gives you an idea of the lift for the weeks surrounding the holiday season.
As you can see, the top days generate some of the biggest transaction rate lifts, but there’s also plenty of upside in the weeks preceding Thanksgiving as well as right before Christmas. A smart retailer will generate a bid schedule for the entire season, starting 4-5 weeks before the Thanksgiving holiday.
Marketing to consumers is notoriously tricky and often trend-driven, making the holiday season a difficult and uncertain time for retailers. However, with proper pre-season preparation, digital retailers can set themselves up for seasonal success in 2014. If you’re a Google Analytics user, you can tailor this analysis and approach to your business, using your own data and the data available in our benchmarking tool. For more strategies for the holiday season, check out our holiday tips blog post and best practices checklist.
About the Data
In order to perform this analysis, we looked at billions of sessions across millions of Google Analytics accounts. We used session and transaction trends; and we looked at the percentage of sessions that included a transaction to calculate transaction rates. The data includes only accounts that have authorized Google to share website data in an anonymous way (read more). For questions, comments, or praise please contact us at gaqi@google.com
Posted by Daniel Waisberg and Jocelyn Whittenburg from the Google Analytics team.
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