Israel-based Oribi, which analyzes consumer shopping behavior, recently released online holiday shopping trends data analyzing more than 17.5 million consumers across 512 ecommerce websites.
The data covers various marketing channels from Facebook and Instagram, to Google paid and organic search. The data was pulled between Nov. 1 and Dec. 2, 2019.
Fifty-eight percent of traffic to online retailers during the first three weeks of November 2019 came from direct marketing such as email and website visits. Google Organic Search contributed 23%, with Google Search Ads at 12%, Facebook at 6%, and Instagram at 1%.
Yearly average conversion rates for direct channels is 1.06% compared with Facebook at 0.60%, Instagram at 0.28%, Google at 1.20%, and Google paid search at 1.57%.
The study also revealed that traffic to online stores increased 2.5 times on Black Friday and Cyber Monday, but the traffic sources remained about the same.
Instagram’s conversion rate for Black Friday and Cyber Monday more than doubled -- with 0.28% versus 0.57%, respectively -- but the company along with its parent Facebook had very low conversation rates.
Visitors from Facebook and Instagram typically arrive on sites from ads on with much lower intent. More often than not site visitors arrive from a general post or ads that target a wide audience.
The overall conversion rate of 2.59%, however, during the biggest retail holiday doesn’t seem like such as big deal when considering the yearly average conversion rate of 2.06%, according to the findings.
Perhaps retailers and manufacturers don’t need the holidays to pull in sales from online.
Similar to other studies suggesting a boost for mobile transactions, Oribi’s study found that 60% of online consumers used their mobile phones to make purchases on Black Friday and Cyber Monday -- up 5% compared with an average retail day.
Earlier this year, Oribi closed a funding round, $7 million, led by Israel-based S Capital LP, with the participation of existing investors Sequoia Capital and TLV Partners.
The company previously raised $5.4 million. The company also raised $5.4 million in June 2016, participants include Sequoia Capital and TLV Partners.