The 2022 Cyber 5 holiday shopping period—Thanksgiving to Cyber Monday—attracted a historic number of shoppers. This is great news for companies who were banking on Q4 sales to help make 2022 a successful year.
According to the National Retail Federation (NRF), “a record 196.7 million Americans shopped in stores and online during the five-day holiday shopping period.” This increase of nearly 17 million from last year now sets a new record for the highest number of holiday shoppers ever recorded by the NRF.
Ecommerce continues to represent a larger share of the holiday season, with 87.2 million online shoppers on Black Friday and 77 million on Cyber Monday. “A record 59% of online Cyber Monday shoppers used their mobile device,” cited the NRF. That’s an impressive jump from 52% in 2021.
Retail media advertising spending more than doubled during the Cyber 5
The Skai Q3 2022 Quarterly Trends Report noted a 45% year-over-year (YoY) increase in spending versus Q3 2021. So, heading into Q4 2022, it was no surprise that retail media would be a key channel on which marketers would rely to drive success.
But what may have surprised some was just how much more they spent this year.
Retail media spending increased 45% YoY in Q3 2022
(from the Skai Q3 2022 Quarterly Trends Report)
Compared to the November days leading up to Thanksgiving, marketers increased their retail media investments daily average by 115% across the Cyber 5, especially on Black Friday, where they increased spending by 188%, and on Cyber Monday by 135%. This is in line with last year’s trend in which Black Friday captured more digital ad spending than Cyber Monday for the first time.
This is significant because the holiday season was already in full swing by November, with promotional plans beginning in October. Marketers more than doubled their November daily spending during the 2022 Cyber 5 shows how valuable they deem retail media advertising’s ability to help them cash in on peak shopping days. We also saw retail media investments jump sharply during Amazon’s two Prime Day events earlier this year.
Retail media spending differed by category. Food brands spent 163% more than they did in 2021 while Internet & Telecom brands spent 96% more and Computers brands spent 93% more this year.
Skai helps advertisers make the most of their holiday season investments
Skai empowers the world’s leading brands and agencies across industries to manage omnichannel digital marketing campaigns. Our omnichannel marketing platform includes solutions for retail media, paid search, paid social, and app marketing. We’ll keep you at the forefront of the digital evolution with data and insights, marketing execution, and measurement tools that work together to drive powerful brand growth.
Client results include:
- 461% increase in Amazon Ads ROAS and 57% increase in page traffic for Bondi Sands
- 280% increase in installs for DraftKings
- 10% increase in new account openings for Royal Bank of Canada
- 756% increase in conversions for New York Magazine
- 600% increase in Facebook leads for Inova
For more information or to check out our platform for yourself, please schedule a quick demo today!