Black Friday Fatigue? 174 Million Americans Disagree

30 November, 2017, 13:53 | Author: Rolando Keller
  • Today is Giving Tuesday a global day of giving following Thanksgiving Black Friday and Cyber Monday

More than 174 million shoppers streamed into stores and visited retailers' online stores on Thanksgiving through Cyber Monday, spending an average of $335.47 per person, according to National Retail Federation figures released Tuesday. The multichannel shopper spent $82 more on average than the online-only shopper, and $49 more on average than the in-store shopper. Seventy-five percent of what consumers spent over the five days, or about $250.78, went toward holiday gifts.

Adobe Analytics, which tracks online sales, reported that online sales topped $5 billion on Black Friday, up 16.9 percent for the day, and that Americans spent a record $6.59 billion online on Cyber Monday, up 16.8 percent for that day. As of last night, Cyber Monday was on track to hit $6.57 billion in sales, up almost 17 percent from 2016, making it the biggest one yet.

"It may not have been as bad as feared for brick-and-mortar stores", said Joel Bines, a managing director focused on retail at AlixPartners, an advisory firm. Data from ShopperTrak shows that traffic at brick-and-mortar stores decreased less than 1% from Black Friday a year ago, which is actually good news compared to what some analysts had been fearing.

Black Friday itself saw an eight per cent uptick in sales, with Cyber Monday expected to have slightly outdone it by a margin of around £7 million.

The NRF estimated that 81 million US consumers shopped online on Cyber Monday, well ahead of the 66 million that did so on Black Friday.

"All the fundamentals were in place for consumers to take advantage of incredible deals and promotions retailers had to offer", NRF President and CEO Matthew Shay said in a statement. "At the end of the day, a sale is a sale is a sale, whether it happens in-store or online", he said. There were 58 million consumers who only shopped online compared with 51 million who stuck to the stores, according to the data. The biggest spenders were Millennials 25 to 34 years old, who dished out $419.52. Though, retail research firm ShopperTrak said store traffic fell less than 1 % on Black Friday, bucking industry foresight of a sharper decline.

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The research firm said the $6.59 billion spent on a day dedicated to e-commerce was a 16.8 percent increase from a year ago and resulted in the largest US online shopping day in history.

"The past Cyber Monday behavior of shopping on your work computer during the day is nearly completely reversed", said Taylor Schreiner, Director of Adobe Digital Insights in a statement.

Top shopping destinations included department stores (43%), online retailers (42%), electronic stores (32%), clothing and accessories stores (31%), and discount stores (also 31%).

The rising importance of smartphones and mobile devices were noted in Adobe's findings.

Black Friday store traffic was more resilient than many expected, he said.

Promotions during the weekend were largely uninspiring, Barclays analysts said in a note, adding that deeper discounts could continue into December rather than being concentrated on Cyber Monday.

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