The future of shopping is on smartphones. This Black Friday proved it.
- by Emilio Sims
- in Money
- — Dec 3, 2019
Preliminary data from analytics firm RetailNext showed net sales at brick-and-mortar stores on Black Friday fell 1.6%, which the firm said is slower than in previous years.
"Consumers. are accelerating spend in the run-up to Cyber Monday".
But what exactly is the Cyber Monday phenomenon - and how can you make sure you bag the best bargains on the big day?
Adobe Analytics tracks sales in real-time for 80 of the top 100 U.S. retailers, covering 55 million SKUs and some 1 trillion transactions during the holiday sales period.
While store traffic still remains an important indicator, a lot of shopping during Thanksgiving and Black Friday now happens online.
The importance on the shopping calendar of Black Friday, or the day after the US Thanksgiving Day holiday, has waned in recent years. "Even when shoppers went to stores, they were now buying almost 41 percent more online before going to the store to pick up".
Target on Black Friday announced that it would kick off a week of online discounts a day before, with new deals available every day until December 9, while Kohl's Corp started online deals on Saturday, with deeper discounts on Monday. "Cyber Monday will be the first $9B day in eCommerce revenue", the analysis predicts.
US online shoppers spent a record 4.2 billion dollars on Thanksgiving, according to earlier data from Adobe Analytics, which tracks 80 percent of online transactions at 100 of the largest retailers in the United States.
The most popular toys included L.O.L. The National Retail Federation expects 69 million USA shoppers to take advantage of online bargains on Monday.
More Cyber Monday links will be added as they become available. "If your customers are Millennials, then they're highly knowledgeable, they understand global trends, they're tech savvy and they're willing to leverage the global marketplace to shop anytime, anywhere". The drop in traffic lead to a 1.6 per cent dip in sales.
The National Retail Federation had forecast USA holiday retail sales over the two months in 2019 will increase between 3.8 per cent and 4.2 cent from a year ago, for a total of US$727.9 billion to US$730.7 billion.
A total of 165 million people were expected to shop over the holiday weekend ending with Cyber Monday, the NRF said.
"Reported losses have tripled over the last three years and it is concerning that losses from this year are already so high".
Cyber Monday is now a marketing term which is used by online retailers across the globe to drive online sales.
