Retailers jump after strong Black Friday, stocks little changed

29 November, 2017, 01:03 | Author: Gladys Mathis
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But this year, Black Friday is drinking Cyber Monday's milkshake, a new report has revealed: Black Friday's 2017 online sales passed up a record $5 billion, up 17 percent over last year.

According to Business Insider, the most notable retailers emerging from the holiday shopping scrum include Amazon, Macy's, Gap, Kohl's, J.C. Penney and Walmart.

Traders are going to be champing at the bit today to act on all of the Black Friday retail sales data that came out over the weekend.

Black Friday online sales totalled at least $3bn by Friday night, up 15.6% from a year ago, according to Adobe Analytics.

"There has been a significant amount of debate surrounding the shifting importance of brick-and-mortar retail, and the fact that shopper visits remained intact on Black Friday illustrates that physical retail is still highly relevant and, when done right, profitable", Brian Field, senior director of advisory services for ShopperTrak, said in a statement.

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On Thanksgiving Day, US shoppers spent more than $2.87 billion online. And that doesn't even take Cyber Monday sales into account...

Adobe said Cyber Monday is expected to beat $6.6 billion in internet sales, which would make it the most vital USA online shopping day in history yet. Conversion rates across all devices saw double digit growth throughout Black Friday. "I mean, sitting online is fine, but there's just something about starting the holiday season with Black Friday". Meanwhile, Kohl's CEO Kevin Mansell has declared that the retailer delivered a "record-breaking" Thanksgiving and on, traffic increased at a double-digit pace throughout the week. And in retrospect, perhaps everyone should have been a little more anxious about the online giant: 70 percent of small businesses didn't "believe that Amazon will impact their holiday sales", a survey reported just last week.

What can small retailers and businesses do to stop the onslaught? Let's look at a couple of retailers, and what they had to say about their holiday weekend.

After bottoming out back in the summer, the retail sector is once again working on a choppy comeback.

The day has become more about the experience of shopping, rather than the actual discounts, said David Bassuk, co-head of retail consulting at AlixPartners Llp.


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