Markets

Black Friday Is Mutating

Black Friday Is Mutating

"A lot of things can change between now and then".

The 2017 holiday shopping season is off to a healthy start, with consumer spending on Black Friday reaching a record $5 billion. "I think that does bode well for the rest of the year".

The sales data for traditional brick-and-mortar stores is still unavailable.

- Shoppers are opening their wallets: Total holiday spending is expected to climb about 4 percent this year - in line with 2016's gain - but holiday cheer has infected some consumers with a vengeance. 51 million people shopped in store, 58 million shopped online, and 65 million shopped both in-store and online.

Shoppers on average spent $335.47 over the five-day period, with older millennials spending the most at $419.52 each, according to the NRF survey of 3,242 consumers on November 25-26. Stores offered substantial discounts, creative gimmicks and gifts to draw discount hunters out of their homes, but some shoppers said they were just scanning the merchandise, saving their cash for internet purchases. "We saw that play out over the weekend".

Shoppers came out for the deep discounting - both in stores and online. "Not only continue to rise, but when you look at the growth in mobile, it's going to continue to rise in a seamless way". NRF will release its data of Thanksgiving, Black Friday and Cyber Monday on Tuesday.

Americans spent $19.62 billion (U.S.) shopping online over the five days, about $2.6 billion more than they spent during the same period last year, according to Adobe Analytics, which has tracked online shopping for years.

The holiday season can represent 20 to 40 percent of annual sales for many retailers.

And almost a third of Cyber Monday purchases were made on a mobile device, according to Adobe. 64 percent of smartphone users turned to their devices to make purchasing decisions and do research over the weekend. "Consumers are also becoming more savvy and efficient online shoppers".

Sutton also notes that Black Friday shoppers show up at a higher intensity, which means Skyhook actually needs to "dampen" its Black Friday traffic numbers in order to normalize them against baseline traffic.

ShopperTrak, a firm that tracks store foot traffic, said shopper visits declined 1.6 percent over the combined Thanksgiving Day and Black Friday period, a much smaller decline that in recent years.

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.

McMillan-Doolittle's Stern said the in-store performance was better than anticipated and contributed to what was an upbeat weekend across retail.

Expected shopping surge in the late hours of Cyber Monday: Three hours in the evening of Cyber Monday (8-11 p.m.in each local market) are expected to bring in more online revenue than the average 24-hour day. The federation said it was sticking to those projections as retailers move into what Shay described as the "halftime break of the holiday season".


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