Consumers and retailers win big over Thanksgiving holiday | National Retail Federation
30 November, 2017, 13:52 | Author: Rosa Wright
174 million U.S. consumers showed up to shop over the five days from Thanksgiving to Cyber Monday, 10 million more than was anticipated.
The turnout far exceeded the 164 million who said they planned to shop over the five-day weekend in previous surveys, and gave retailers a welcome boost heading into the final five weeks of the holiday shopping season.
The NRF doesn't estimate total sales for the weekend, but said average spending per person over the five days was $335.47.
Last year, NRF's Thanksgiving weekend survey didn't include Cyber Monday sales, making the two non-comparable.
Cyber Monday, the Monday after the Thanksgiving, is expected to rake in 6.6 billion dollars in online sales, making it the biggest US online shopping day in history, said the report.
- But much of that money is headed online: E-commerce sales are up about 17 percent this season, according to Adobe Systems.
December ExpectationsFollowing Black Friday and Cyber Week, retailers still have plenty of opportunity to reach shoppers before Christmas, and most opportunity lies in driving sales to their brick-and-mortar locations.
Store traffic fell 1.6 per cent from a year ago, according to ShopperTrak, an analytics firm, with many big retailers offering deals starting on Thanksgiving.
"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 press release.
- Shoppers ages 25 to 34 spent the most, an average of $419.52. But, Shay said, retailers today are like consumers, they don't differentiate between whether something is bought online or in stores.
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. There were 58 million consumers who only shopped online compared with 51 million who stuck to the stores, according to the data.
"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.
The rising importance of smartphones and mobile devices were noted in Adobe's findings.
"Black Friday itself is not dead yet, but it is not what it used to be", said Craig Johnson, president of Customer Growth Partners, a retail research and consulting firm.
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.
As the name suggests, Cyber Monday is even more e-commerce oriented than most other major days on the retail calendar, with people shopping from their desks at work as well as from their smartphones while on the move to bag bargains.
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The company acknowledged that processing was taking longer than usual in its stores and said it was working on the problem. Predictions are that overall online holiday sales will reach $107 billion, rising more than 13% from past year .
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