Economy

Black Friday online sales rise, but footfall dips

Black Friday online sales rise, but footfall dips

Across the 48 hour period taking in Thanksgiving as well - when many physical stores were closed - online sales from the 100 largest U.S. retailers topped out at $7.9 billion, up 18% year-on-year.

During that five-day stretch, more than 174 million people made purchases, with over 58 million buying online only, and more than 51 million spending in brick-and-mortar stores, while over 64 million spread their spending among both.

More than 174 million US consumers shopped in stores and online between Thanksgiving Day and Cyber Monday, according to the National Retail Federation, with over 81 million people shopping on Cyber Monday alone.

Busiest Days: The most popular day for in-store shopping was Black Friday, cited by 77 million consumers, followed by Small Business Saturday with 55 million consumers.

A survey carried out by the National Retail Foundation found that the average shopper had a sizeable haul, spending an average of $442 (approx.) over the five day period. Second to that was just past noon on Black Friday. To the contrary, stores still captured most sales, but it does show how more consumers are browsing and shopping online these days and there's no going back. "It's now Black November".

According to the association's earlier estimates, holiday retail sales in November and December - excluding automobiles, gasoline and restaurants - are expected to climb four percent this year, reaching up to 682 billion USA dollars, higher than last year's sales of 655.8 billion US dollars. Adobe found that smartphones accounted for slightly more traffic than desktop computers on Thanksgiving, but not on Black Friday. "With more consumers opting to kick off their holiday shopping online on Thanksgiving, the traditional day of giving thanks has also become one of the more important online buying days of the holiday season as an increasing number of people prefer to get a head start on their buying from the comfort of their homes".

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While online sales were strong, footfall results demonstrated a 3.6% dip on Black Friday.

The value of inventory retailers have in stock was up an average of 34 percent last weekend versus last year and up 43 percent on Cyber Monday from a year ago, Engel said.

115 million people visited online retail sites on Thanksgiving, 61 percent of whom only visited on their mobile devices.

Both Black Friday and Thanksgiving online spending levels set new all-time records, according to Adobe.

The 2017 holiday season is projected to be the biggest e-commerce season ever, and with many retailers counting on the holidays to redeem their lackluster performances so far this year, these early figures are a good sign for those that have invested heavily in online channels.


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