Shopify found that for Cyber Monday, the top categories for orders were cosmetics, shirts and tops, underwear and socks, pants, fitness and nutrition, with almost three-quarters (74%) of sales being completed by mobile and the rest through desktop.
“We’re already blown away by the energy of Cyber Monday—the momentum of the holiday season is not slowing down with people showing up for the brands they love in a big way,” Shopify president Harley Finkelstein said.
Advertisers still face wasted digital spend issues
And while news of heightened ad spend is perhaps good for media platforms and agencies, it is also an opportunity for evolving a first-party data drive ahead of 2024’s planned curb of third-party cookies by Google.
According to Phil Duffield, vice president of U.K. for The Trade Desk, 80% of consumers turned to digital channels to shop during Black Friday, while more than one-half (53%) will do so during the holidays and 51% on Boxing Day.
“This is a marketer’s dream; these retailers will have access to first-party data to inform advertisers who is most likely to buy their products. This allows marketers to deliver their ads to the right people with precision and scale across their preferred channels. The advertisers that take a data-driven approach, reduce wasted media spend and ensure that they’re offering a positive experience are the ones who will win this festive season.”
Wasted media spend remains a major problem for advertisers, though, during the “Golden Quarter” especially. According to new research from creative technology company CreativeX—which assessed over 3.9 million ads from 2021 through 2022, from 400+ brands across 10 different industries—brands spent over $600 million worldwide on ads that went to waste during those holiday seasons.
Based on Dentsu’s forecasted digital ad spend for 2023 of $424.3 billion, 30% of which will occur during the fourth quarter, CreativeX has also forecast that $73 billion will be wasted in Q4 2023.
“The majority of this waste is a result of ads that do not meet creative best practices—they are unbranded, sized incorrectly, too long or too short for the platform they are set to appear on, or lack appropriate subtitles,” Mark Piesanen, chief revenue officer at CreativeX, explained to Adweek.
“Marketers face this problem year-long, but it’s exacerbated during high-pressure seasons like the holidays,” he added.
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