Benchmark Report: Cyber Week 2023 Went Big
Cyber Week 2023 Outdoor Industry Benchmarks
Backbone’s analytics team has been glued to their screens for the past week bundling up the data coming out of Cyber Week 2023. To help show performance, we refreshed our Outdoor Industry Benchmarks that measure the median e-commerce performance across our wide array of recreation and lifestyle brands. Read the report below.
Looking Back at 2022
Last year, consumers started holiday shopping earlier to secure available product amid inventory challenges. With those challenges subsiding, would shoppers do the same this year?
2023 Cyber Week Timing
Cyber Week 2023 produced e-commerce growth in the outdoor industry compared to last year, with many consumers appearing to wait for the sales period to start their holiday shopping.
Crunching the Numbers
- Comparing 2023 to 2022, median, year-over-year transaction growth hit 10.7%.
- Revenue paced even higher at 13.9% year-over-year.
A Bigger Boost
Cyber Week 2023 appeared to boost outdoor recreation and lifestyle brands’ yearly performance more than last year.
Backbone’s Cyber Week Lift Index measures the increase that brands experience during the sales period compared to the months prior
- In 2023, that rate was 3.79x for transactions and 3.47x for revenue
- Up 3.3% and 4.9% from last year, respectively
'Tis the season.
Consumers waited for Cyber Week to kick off their shopping this year. Will this growth continue throughout the holiday season? Look for updates on Backbone Benchmarks later this season.