As shoppers increasingly turn to online deals rather than in-store savings for their BFCM weekend shopping, retailers and brands cranked up the heat on Cyber Monday sales in order to keep consumer interest. And it worked: Cyber Monday 2024 brought in $13.3B in revenue*, a significant increase over 2023. Listrak clients drove phenomenal results this Cyber Monday, harnessing the power of AI to target consumers with steep discounts and personalized messaging. Read on for exclusive data on Cyber Monday marketing strategy and performance with key insights from the experts at Listrak.

Strategic Deals, Discounts, and Offers

Just like Black Friday 2024, Cyber Monday saw most retailers slashing prices and deepening discounts to surpass their 2023 offerings. 

• ‍Discounts: 82% of Listrak clients offered discounts that were the same or greater compared to last year in order to win over smart shoppers.
• Breakdown: 44% kept the same Cyber Monday offer as 2023, 38% increased their offer from 2023, and 18% had a lower offer than 2023

Discount Strategy

• Black Friday vs. Cyber Monday: Most Listrak clients offered similar deals across BFCM weekend, an indicator that both shopping days are critical for online sales.
  • 51% kept the same offer across BFCM 
  • 38% increased their deal from Black Friday to Cyber Monday 
  • 11% decreased their deal from Black Friday to Cyber Monday

• Promotion Type: Mimicking trends we spotted on Black Friday, retailers shifted toward sitewide offers to get customers browsing on Cyber Monday.
  • 18% increase in retailers offering sitewide discounts
  • 13% increase in retailers offering "up to X% off the site"
  • 43% decrease in retailers giving category- or product-specific offers
  • NOTE: While average sitewide discount amount for Cyber Monday trended flat YOY at 29%, this is due to newer brands bringing down the average by offering lower sitewide discounts, as they have not offered these discounts previously.
• Free Shipping: While most Listrak clients offered free shipping, the conditions for receiving the deal varied according to each retailer’s strategy.
  • 24.5% offered free shipping with no minimum purchase requirement
  • 54.3% offered free shipping with a purchase amount threshold

Strong Performance Across Channels

Cyber Monday 2024 saw increased send volume and better performance across channels than 2023. Listrak clients tackled Cyber Monday with an aggressive sending strategy to stay top of mind with customers and reach them via email and text with AI-driven, targeted messaging.

Cyber Monday Results by Vertical

Each individual vertical across the retail industry made Cyber Monday their own. With guidance from Listrak’s expert account teams, our clients implemented bespoke strategies to ensure an edge over the competition, leading to exceptional results:

• Apparel made a splash across channels, achieving an email conversion rate increase of 51% YOY, an increase in SMS conversions of 28% YOY, and a 16% higher SMS average order value (AOV) YOY.
• Toys, Hobbies, & Sporting Goods also saw the value in a cross-channel approach, ramping up email sends by 30% YOY and driving a 25% increase in SMS revenue YOY.
• Home & Housewares connected with high-value customers on the most effective channels, increasing SMS sends by 11% YOY and driving a tremendous 43% YOY lift in AOV. 
• Beauty boosted message volume across the board with a ~30% increase YOY in both email and SMS sends, resulting in an AOV lift of 15% YOY.
• Auto used a robust email strategy to get deals in front of customers, with a 32% increase in email sends YOY.

Cyber Monday Results by Campaign

Email, as always, was a cornerstone of Cyber Monday strategy for Listrak clients. By beefing up email campaigns all along the customer journey, retailers were able to retain customers and drive conversions.

• Broadcast Email: Cyber Monday broadcast sends increased by 14% YOY, a strong approach rewarded with a 15% increase in AOV.
• Post-Purchase Email: Retailers kept customers engaged after conversion with an increase in post-purchase sends of 25% YOY. 
• Alert Email: Enticing customers with the products they wanted most drove alert email revenue up 10% YOY.

SMS continues to gain ground as a preferred communication channel for shoppers, enabling retailers to meet customers where they are even during the hectic holiday season. 

• Broadcast SMS: Retailers expanded their broadcast strategies considerably, increasing sends by 62% for a 28% lift in broadcast revenue YOY.
• Abandonment SMS: Browse and cart abandonment messaging recaptured more consumer spend than last year with a 12% increase in abandonment revenue YOY.
• Post-Purchase SMS: A 25% increase in post-purchase sends YOY led to a 5% YOY bump in revenue, highlighting the importance of strategic send volume.
• SMS Average Order Value (AOV): With even stronger results than Black Friday, SMS AOV rose 5% on Cyber Monday 2024 compared to the previous year.

Despite economic uncertainty, Listrak clients found success on Black Friday and Cyber Monday 2024 by employing highly personalized messaging, strong discounts, and increased send volume. Engaging customers seamlessly across the most effective channels gave smart retailers and brands a leg up on the competition, leading to increased conversions and revenue. 

Hungry for more holiday data? Be sure to check out our Black Friday Recap and follow Listrak on social media.

*Adobe Analytics