We're Seeing a Shift in Shopping Behavior: Pierson

Your next video will start in

Recommended Videos

  • Info

  • Comments


Dec. 2 (Bloomberg) -- Corey Pierson, co-founder and CEO of Custora, discusses Black Friday retail sales with Mark Crumpton on Bloomberg Television's "Bottom Line." (Source: Bloomberg)

Hit with consumers, pushing sales up from last year.

We are joined in the studio.

Welcome to "bottom line." thanks for having me.

Cyber monday 2013 was online to be the biggest online shopping day in history, and your figures show a 19% increase this year compared to cyber monday 2013. what did of these results?

Is this the new normal?

I think this is the start of a big shift in behavior.

Online commerce is still, relatively speaking, a small percentage of the overall retail in the country, but 19% year- over-year growth -- does that number surprise even you?

It is.

It is strong.

We have been seeing a lot of the fastest growing companies getting set up, preparing to have great marketing strategies for this holiday season, but we expected strong numbers, but they surpassed our expectations.

A lot of stores were open on thanksgiving day.

Retailers were not able to boost spending.


What have the retailers faced since the recession in 2007? i think you hit the big one on the head, in that bigger and bigger discounts are needed.

The environment is getting more competitive, and the economic environment has not been great, so we are seeing it down about 10% year-over-year.

Now, obviously, there are quite a bit more orders, which is giving us the strong growth, but what you are seeing is fighting for the market share.

They will have to offer bigger sales, but that will eat into their profit margin, so you have this catch-22 going on.

Where does this collide with the retailing need to grow?

The customer lifetime value of the shoppers, and what that means is the long-term value of the shoppers.

You say the long-term shopper value, because this is not just a seasonal event.

They are sitting there thinking, hey, this holiday season, perhaps a big discount get somebody in with a low margin order, but if that person comes back in march, that is still a win for the consumer and the retailer.

This shift from desktop to mobile devices, even when you see somebody on the train, and they are obviously taking care of business on their phone.

Absolutely, and this is one of the most astounding stats, looking at the holiday metrics.

Yes, and we have the screen up.

That is fascinating.

It is a massive jump.

You are seeing one out of four orders being made on mobile devices, and that is an astounding number at we are seeing this holiday season.

Again, the companies that are really finding out how to crack the digital age, how to shift into online commerce, one of the things they are thinking about is how to create that mobile experience and how to make it easy, how to hit that mobile phone or that tablet and make that order right away.

One company that seems to have embraced it is apple, orders made through the iphone or the ipad.

What about the android or vices?

Are they starting to eat into that?

Are they picking up steam?

Apple was still 80% of those mobile orders, but we did see about 3% in an increase of android devices this year.

How did the online shoppers find what they were looking for?

Is it mostly google?

Overall, google is responsible for about 40% of the purchases people make online, and that is a combination of about 20% of orders come from organic, and about 15% come from paid advertisements that you see on the site.

Social commerce.

Talk about the impact of facebook, twitter, pinterest.

Did they have an impact?

It accounts for less of a direct attribution to orders, so it is fairly rare for someone to go directly from that link on facebook directly to an order, but it is a way that brands are communicating with customers, so it is brand awareness.

Last night on cbs's "60 minutes," jeff bezos was on.

Getting their goods in 30 minutes or less by drones.

If summit he could pull it off, it would not surprise me.

Our cory johnson was at the amazon fulfillment center, and he was saying it was creepy.

These things with drones, rb taylor is going to embrace this?

Is this -- are retailers going to embrace this?

I want it now.

If they can find a way to crack that and get things right into

This text has been automatically generated. It may not be 100% accurate.


BTV Channel Finder


ZIP is required for U.S. locations

Bloomberg Television in   change