With Black Friday sales up 28% globally this year, IBM predicts that 2016 will be the biggest season for online holiday shopping yet. Here's what your business can expect.
The holiday online shopping season will likely drive double-digit growth for retailers globally on Cyber Monday, according to new data released by IBM.
And shopping highs are no longer limited to Black Friday: This year, Thanksgiving day shopping increased 24% in stores across the globe over 2015, with online sales for US retailers increasing 12% over last year.
Thanksgiving kicked off a four-day online sales spree, IBM stated, with global retailers experiencing online sales up nearly 20% over the same period last year. Black Friday online sales globally increased by more than 28% over 2015, with sales for US retailers growing by nearly 10%.
"It is clear, online shopping during the US holiday period has become a global phenomenon," Harriet Green, general manager of IBM Commerce, said in a press release. "The pace at which consumers demand personalized service across multiple channels requires new levels of cognitive capabilities on everything from consumer behaviors, inventory management, marketing and an organization's supply chain."
The spending is not expected to slow on Cyber Monday: IBM predicted that online sales will also increase by double digits over 2015, according to the press release.
In terms of overall 2016 online sales in November and December, IBM forecasts an increase of nearly 14% over last year.
IBM offers a number of cognitive engagement tools, delivered as a service and on premises for more than 17,000 companies worldwide, according to the press release. Over the 2015 holiday season, the company powered more than $62 billion in online sales.
IBM has recently made a number of moves to remain a strong option for enterprises, including online retailers, to use for cloud and other services. Earlier in November, the company announced updates to its Bluemix cloud platform that could boost data migration to the cloud, and help businesses more easily access insights from that data, as TechRepublic's Conner Forrest reported.
Also in November, IBM announced its deep learning software toolkit IBM PowerAI, which it claims is the "world's fastest deep learning enterprise solution," and will help train computers for machine learning and AI tasks. The company also continues to invest and find new enterprise applications for its IBM Watson data analytics processor.
The 3 big takeaways for TechRepublic readers
- IBM predicts that holiday season online spending in November and December will increase sales nearly 14% over 2015, according to new data released by the company on Monday.
- Cyber Monday online sales are expected to grow double digits over last year, IBM predicted.
- IBM has recently made moves to increase its offerings for enterprises, including online retailers.
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- Smartwatches and fitness trackers continue to spread, powered by professionals (TechRepublic)