Value-Seeking Consumers & Agile Retailers Propel Record 2023 Cyber Week

After a year of historic economic volatility, U.S. shoppers were eager to find the best deals and savings this Cyber Week, with nearly 50% of shoppers planning to prioritize promotions and deals when completing their holiday shopping, according to PMG x GWI consumer research. 

Leading into the holidays, roughly half of shoppers across ages were planning to delay purchases into next year due to inflation, with price listed as the most important shopping decision influencer for more than 80% of those surveyed. This growing interest in deal-seeking and value-driven consumption led to new shopping patterns that characterized much of Cyber Week this year.

Cyber Week 2023 (Thanksgiving through Cyber Monday) exceeded expectations, with record-breaking sales and performance gains seen across retailers.

Conversion trends showed that customers were highly motivated by competitive discounting and value; many shoppers held out to purchase until the very final hours of Cyber Monday to ensure they were getting the best deal of the season.

Shoppable carousels, interactive video, and dynamic social ad types were some of the most engaging paid efforts this holiday, while sponsored email integrations saw great success.

Cyber Week delivered strong performance for brands within the PMG portfolio and retailers across categories, though the holiday shopping season is far from over. More than 75 percent of shoppers (76%) across ages say they’ll complete their holiday shopping sometime after Cyber Week sales, giving retailers ample opportunity to pull levers and maximize sales in pursuit of omnichannel gains and revenue growth until the very end of the season.

Download PMG's 2023 Cyber Week Portfolio Trends Report to learn more.