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30 November 2017, 01:53 | Hattie Nash
Black Friday Is Mutating
Retail research firm ShopperTrak said store traffic fell 1.6 percent on Thanksgiving and Black Friday compared with the same two days a year ago. The multichannel shopper spent $82 more on average than the online-only shopper, and $49 more on average than the in-store shopper.
Black Friday itself saw an eight per cent uptick in sales, with Cyber Monday expected to have slightly outdone it by a margin of around £7 million. That brightened the overall outlook for traditional retailers that have expanded beyond brick-and-mortar outlets into e-commerce. Seventy-five percent of what consumers spent over the five days, or about $250.78, went toward holiday gifts. 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.
Deepest Discounts on Cyber Monday Cyber Monday offers continued the trend of big savings, with even deeper dollar-off discounts than Black Friday. The top two days that consumers shopped online were Cyber Monday with more than 81 million and Black Friday with more than 66 million. Online-only shoppers spent significantly less than consumers shopping in-store or across multiple channels.
The research firm said the $6.59 billion spent on a day dedicated to e-commerce was a 16.8 percent increase from a year ago and resulted in the largest US online shopping day in history.
The survey further found that more than 64 million people shopped online and in stores, making use of both platforms through Cyber Monday. 29 percent made a purchase on their smartphone. That doesn't mean more money was spent online.
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The survey showed that shoppers were in the mood to find great deals. The stock market is also at an all-time high, unemployment and gas prices are low, and there's an extra weekend for holiday shopping due to the early Thanksgiving. But the firm added the decline in traffic was less than 1 percent on Black Friday, evidence that stores still remain an integral part of the busy shopping period.
Analytics firm ShopperTrak, which counts shoppers in stores, reported Saturday that in-store traffic on Black Friday was down less than one percent compared to Black Friday 2016, and said store traffic for the day was essential comparable to the previous year.
The industry group reiterated its expectation for retail sales to rise 3.6% to 4% in November and December and said on a media call the long weekend was consistent with its seasonal projection though it would not say how the weekend fared versus last year's, citing a change in methodology, including the inclusion this year of Cyber Monday.
- 91 percent of shoppers said they still have things to buy, and 90 percent of consumers expect to see even better deals in the weeks to come.
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