CBD Products Trended Upwards This Black Friday/Cyber Monday
Year-over-year (2018-2019) online searches for CBD products increased exponentially by 100 times.
AUSTIN, Texas — GroupBy Inc., a leading provider of relevancy-focused eCommerce solutions, today announced its retail customers saw significant year-over-year (YOY) increases in online searches for CBD products during this year’s four day period between Black Friday and Cyber Monday, compared to 2018.
CBD products continue to grow in popularity
According to aggregated data from GroupBy’s customer base, search terms for makeup decreased 30% from 2018, while terms related to CBD on average increased 100 times. This supports evidence of the growing Cannabidiol Oil (CBD) market, expected to reach $20 Billion by 2024, according to BDS Analytics. CBD products are currently being brought to market across diverse industries such as cosmetics, health products, food and beverage, pet products, skin care, and pharmaceuticals
Consumers continue to search with specificity
For the Home and Garden Market, specific product searches for grills increased. For example, consumer searches for the leading vendors of wood pellet grills increased on average by 150%. This demonstrates that consumers are looking for products with more specificity, which is a continuing trend from GroupBy’s findings from this Memorial Day.
Overall revenue increase
Compared to last year, GroupBy retail customers saw a total revenue increase of 13% and an increase in total product views by 15%. Overall, this demonstrates how enriched product data can drive powerful and relevant personalized search results on an eCommerce site.
“This year-over-year search comparison demonstrates that consumers know what they’re looking for, and the search bar is the key to providing relevant results to their queries,” said Roland Gossage, CEO, GroupBy Inc. “With the holiday season in full swing, these trends from Black Friday and Cyber Monday should serve as indicators of how and what consumers will be searching for and purchasing leading up to Dec. 25 and beyond. Retailers should look to optimize their merchandising strategy based on these trends and, likewise, their search capabilities to help consumers find the products they are looking for this holiday season.”