Jeff Bezos is the world’s richest person - againJan 07, 2020
So Cyber Monday was Amazon's biggest shopping day in the company's history. And Jeff Bezos is the world's richest person again because of it.
Amazon's phenomenal success over the holidays was echoed across the industry. According to Adobe Analytics, Cyber Monday Shoppers spent a record $9.4 billion online, up 19.7% from a year ago.
The 5-day shopping extravaganza between Thanksgiving and Cyber Weekend, aka the 'Cyber Five', also saw bumper growth.
Black Friday grew nearly 20% year on year and notched $7.4 billion in sales while Thanksgiving raked in $4.2 billion in sales, an increase of 14.5% over 2018.
So what did that mean for Amazon Advertising? Here are some key insights.
1. Mobile shopping is on the rise
Shopping on smartphones accounted for 33% of Cyber Monday sales, an increase of 46% compared on the same day in 2018.
Key takeaway: optimizing for mobile is more important than ever. Having a great main image and knowing where your title cuts off is key for conversions.
2. Amazon Sponsored Products Spend Grows 50% Year on Year
According to Tinuiti, sellers increased their investment in Sponsored Products by 50% year on year for the period between Thanksgiving and Cyber Monday. This increase was driven by a 29% increase in clicks and a 16% increase in CPC.
Key takeaway: think the Sponsored Products are obsolete given all the new advertising options available? Think again! The granddaddy of Amazon Advertising is stronger than ever.
3. Sponsored Brands Clicks Are on the Up and Up
Although Sponsored Brands accounted for only 15% as much spend compared to Sponsored Products, spend grew by 26%. According to Tinuiti, clicks increased by a whopping 52% while CPC declined by 17%.
Furthermore, 70% of conversions and 71% of sales attributed to Sponsored Brands between Thanksgiving and Cyber Monday were deemed new-to-brand. That means the customer had not purchased from the brand on Amazon in the last twelve months.
Key takeaway: The introduction of new-to-brand metrics has shown that Sponsored Brands can massively help advertisers reach new customers and has proven its value.
Armed with these insights, you can stay ahead of the curve in 2020.
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