Black Friday and Cyber Monday: Tech helps consumers to keep spending
- 13 December 2023 (5 min read)
Cyber Week, the post-Thanksgiving period of mass retail discounts - which includes Black Friday and Cyber Monday - remained resilient in 2023, as hordes of shoppers sought out bargains.1
- U291cmNlIGZvciBnbG9iYWwgQ3liZXIgV2VlayBmaWd1cmVzIGluY2x1ZGluZyBCbGFjayBGcmlkYXkgYW5kIEN5YmVyIE1vbmRheSBzYWxlcyBncm93dGg6IFNhbGVzZm9yY2UsIDI4IE5vdmVtYmVyIDIwMjM=
Tech supports sales growth
AI helped drive sales growth - $51bn of Black Friday and Cyber Monday spending was influenced by AI via targeted offers, product recommendations and generative AI chat services. A record 79% of Cyber Week e-commerce traffic came via mobile phones, up from 76% in 20222 .
80% of internet users worldwide made online purchases in 2022, up 8.3% from 20213
. E-commerce is expected to make up 41% of global retail sales by 2027, up from 18% in 20174
.
- Jm5ic3A7
- RGF0YVJlcG9ydGFsLmNvbSwgMjYgSmFudWFyeSAyMDIz
- QkNHLCAzMSBPY3RvYmVyIDIwMjM=
Image
|
|
| |
|
Singles Day: China's biggest shopping event
Meanwhile in China, Singles Day sales continued to rise despite a sluggish economic backdrop.
Singles Day originated in 1993 in China in response to Valentine's Day as a celebration of being single. It is known as the 'Double 11' shopping festival and takes place on 11 November.
Gross merchandising volume sales across major e-commerce platforms over the Singles Day sales period was estimated to have risen to $156bn in 2023, up 2.1% on the year before.7
More than 5.26bn packages were delivered by China’s state postal service across the 11-day shopping holiday.8
- QWRvYmUsIDI4IE5vdmVtYmVyIDIwMjMgLyBBZG9iZSwgMzAgTm92ZW1iZXIgMjAyMg==
- QWRvYmUsIDI4IE5vdmVtYmVyIDIwMjMgLyBBZG9iZSwgMzAgTm92ZW1iZXIgMjAyMg==
- U2Vuc29ybWF0aWMgU29sdXRpb25zLCAyNSBOb3ZlbWJlciAyMDIz
- Rm9ydHVuZSwgMTIgTm92ZW1iZXIgMjAyMw==
- Q2hpbmEgRGFpbHksIDEyIE5vdmVtYmVyIDIwMjM=
Technology, including mobile phones and more recently artificial intelligence, is helping boost e-commerce growth, making it easier for retailers to reach and market to customers.
Jeremy Gleeson, CFA
Portfolio manager, AXA Investment Managers
Read more articles
View all articles
Smart cities: A tech-driven future with stakeholder potential
- by
- 19 March 2024 (7 min read)
Tech stocks look set to potentially continue AI-led hot streak
- by Chris Iggo
- 30 January 2024 (5 min read)
Black Friday and Cyber Monday: Tech helps consumers to keep spending
- by
- 13 December 2023 (5 min read)
Disclaimer
This document is for informational purposes only and does not constitute investment research or financial analysis relating to transactions in financial instruments as per MIF Directive (2014/65/EU), nor does it constitute on the part of AXA Investment Managers or its affiliated companies an offer to buy or sell any investments, products or services, and should not be considered as solicitation or investment, legal or tax advice, a recommendation for an investment strategy or a personalized recommendation to buy or sell securities.
Due to its simplification, this document is partial and opinions, estimates and forecasts herein are subjective and subject to change without notice. There is no guarantee forecasts made will come to pass. Data, figures, declarations, analysis, predictions and other information in this document is provided based on our state of knowledge at the time of creation of this document. Whilst every care is taken, no representation or warranty (including liability towards third parties), express or implied, is made as to the accuracy, reliability or completeness of the information contained herein. Reliance upon information in this material is at the sole discretion of the recipient. This material does not contain sufficient information to support an investment decision.
Issued in the UK by AXA Investment Managers UK Limited, which is authorised and regulated by the Financial Conduct Authority in the UK. Registered in England and Wales, No: 01431068. Registered Office: 22 Bishopsgate, London, EC2N 4BQ.
In other jurisdictions, this document is issued by AXA Investment Managers SA’s affiliates in those countries.