SAN FRANCISCO, Dec. 10, 2024 (GLOBE NEWSWIRE) — Lucidworks, the leader in AI-powered search and product discovery solutions, today released data that underscores the transformative impact of AI on retail sales during the extended 2024 Cyber 5 shopping period. Key findings reveal significant shifts in shopper behavior, with early purchasing trends and sophisticated search capabilities driving record-breaking sales.
A 20% year-over-year increase in searches, combined with a surge in pre-Black Friday activity and notable 30% rises in average order value (AOV), highlights the growing importance of AI-powered discovery tools in helping retailers outpace their competition.
2024 Cyber 5 Highlights:
- Record-Breaking Sales: Several top retailers surpassed $1 billion in sales during Cyber 5, with one client achieving a 41% lift in search-attributed add-to-carts, a 60% increase in search-attributed conversions, and a 31% increase in search-attributed AOV compared to a typical week.
- AOV Boost: A top retailer experienced a 30% year-over-year rise in AOV, showcasing the power of AI-driven recommendations and semantic search.
- Explosive Search Volume: An 85% spike in searches during Thanksgiving to Cyber Monday compared to the previous five days reflects the popularity of holiday sales events.
- Early Spending Pattern: A leading retailer saw peak search activity at 10 PM ET on Thanksgiving Eve, highlighting that consumers are eager to engage with sales events starting earlier.
- Peak Performance: The Lucidworks platform handled a peak of 301,000 searches per minute, delivering seamless, high-scale experiences for shoppers, a 43% increase year-over-year.
“Cyber 5 is about more than steep discounts,” said Lana Klestoff, Chief Client Officer at Lucidworks. “Shoppers expect an intuitive experience that helps them find deals and discover exciting new products. AI-powered search and discovery, with capabilities like semantic understanding and personalized recommendations, are now essential for retailers to maximize revenue. Lucidworks powered nearly five percent of all holiday commerce searches, delivering 100 percent uptime and record client growth. We’re incredibly proud of our team for providing world-class solutions.”
A full infographic with insights into how AI-powered search and discovery helps businesses stay ahead of the curve is available here.
About Lucidworks
Lucidworks clients are more than 2.5x more likely to successfully deploy generative AI initiatives than their peers. The world’s largest brands including Crate & Barrel, Lenovo, and Red Hat rely on Lucidworks’ suite of products to power commerce, customer service, and workplace applications that delight customers and empower employees. Learn more at Lucidworks.com.
