More people shopped from Thanksgiving through Cyber Monday than had been forecast - 174 million vs. 164 million - and they spent an average of $335.47 each, but the dominant place in shoppers' minds was online, according to a survey from the industry's largest trade group. More tellingly, over 64 million people bought online and in person, underscoring the fact that retailers need to do both well to be successful today - especially because those consumers spent more money than those who only shopped online or in-store. Multichannel shoppers spent about $49 more than those shopping only in-store, and $82 more than those shopping online.
The online sales on Black Friday and Thanksgiving rose to 7.9 billion dollars, a record high, and up 17.9 percent from a year ago, said Adobe Analytics in a latest report, which covers transactions at the largest 100 USA online retailers.
According to Adobe Analytics, shoppers are expected to spend 6.6 billion on Cyber Monday, which is a 16 percent increase from a year ago. For the first time in the U.S., Cyber Monday mobile revenue has broken the $2 billion barrier, according to Adobe Digital Insights. Even with deep discounts, brick-and-mortar stores failed to boost customer traffic on Black Friday.
In an interview with the Boston Globe last week, retail analyst Marshal Cohen described the state of pre- and post-Thanksgiving sales events like this: "It's no longer Black Friday". While pressure from Amazon and other online channels remains, many retailers, like Nordstrom and Kohl's, have been able to avoid falling profits in spite of the upheaval. "However, younger consumers (those under 34) are still savvy when it comes to online shopping and leveraged their smartphones the most to browse for the best deals from some of their favorite retailers".
According to the latest data from retail intelligence experts Springboard, footfall figures across United Kingdom high Streets, shopping centres and out of town retail parks were down 1.1% during the whole Black Friday weekend.
An uptick in shopper traffic was seen across all the retailers in Skyhook's analysis around 4 pm on Thanksgiving Day, which was right before most stores opened.
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Adobe said Cyber Monday is expected to beat $6.6 billion in internet sales, which would make it the most vital US online shopping day in history yet.
As for destinations, 43% of consumers shopped department stores, 42% shopped online retailers, 32% shopped electronic stores, 31% shopped clothing and accessories stores, and 31% shopped discount stores.
The rising importance of smartphones and mobile devices were noted in Adobe's findings.
The 2017 holiday shopping season is off to a healthy start, with consumer spending on Black Friday reaching a record $5 billion.
Websites offer price guides of discounted merchandise at competing websites.