More than 174 million Americans shopped in stores and online during the holiday weekend, topping a prior forecast calling for 164 million, the National Retail Federation revealed Tuesday. Multichannel shoppers were the biggest spenders over the weekend, spending on average $49 more than those who shopped in-store only and $82 more than those who shopped online only. The trade group said Tuesday that the shopping data reaffirmed its earlier prediction that total sales this holiday season would increase by as much as 4 per cent over previous year.
On this Cyber Monday, shoppers in the USA are expected to spend billions of dollars online. Shoppers increasing seek out those deals, but they take a heavy toll on profit margins.
The kickoff to the holiday shopping season is a now a five-day affair of discounts and perks - and nicknames, stretching through Black Friday into Small Business Saturday and finishing on Cyber Monday.
While online sales were strong, footfall results demonstrated a 3.6% dip on Black Friday. "This may be attributable to more aggressive deals and comparison checking inside stores".
"You did see the expected surge in online shopping and the fact that Cyber Monday was a record day doesn't surprise anybody", Stern said.
For Thanksgiving week (November 23 through 26), online sales totaled $13.03 billion, a 14.4 percent increase year-over-year.
Top retail promotion drivers: Search drove the majority of online sales on Cyber Monday at 41.7 percent (paid search at 22.9 percent, organic search at 18.8 percent). Shopping is increasingly flowing online, with mobile devices becoming the preferred means of commerce.
The 2017 holiday shopping season is off to a healthy start, with consumer spending on Black Friday reaching a record $5 billion. For the first time in the U.S., Cyber Monday mobile revenue has broken the $2 billion barrier, according to Adobe Digital Insights.
- But much of that money is headed online: E-commerce sales are up about 17 percent this season, according to Adobe Systems.
Obviously there's a lot of buzz around online traffic, said Jill Standish, head of the retail practice at consulting firm Accenture.
And the number of Australian retailers getting in on the action is only set to grow. USA retailers collected in a record $7.9 billion in only online sales on Black Friday and Thanksgiving, up 17.9 percent from a year ago, according to Adobe Analytics, which measures transactions at the most significant 100 US web retailers, on Saturday.
"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.