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Online sales boomed on Black Friday
29 November 2017, 01:07 | Melanie Burgess
Shoppers wait in line at Meijer in Kettering on Thanksgiving. KARA DRISCOLL STAFF
United States stores offered deep discounts, entertainment and free gifts to lure bargain hunters on Black Friday, the traditional start of the holiday retail season, but some shoppers said they were just browsing the merchandise, reserving their cash for internet purchases.
I have recommended both Mastercard (MA) and Visa (V) at various times over the previous year and, as the charts below show, that has worked out pretty well so far.
By 5 p.m. ET on Thanksgiving, shoppers had already spent more than $1.52 billion, up 16.8 percent from a year ago, CNBC reported. The National Retail Federation, which had foretold strong holiday sales helped by improving consumer faith, said on Friday that fair weather across much of the nation had also helped attract customers into stores. Discount department stores saw a more notable increase at 64 percent - but at 10,435 establishments by 2016, they have been unable to keep pace with online retailers.
According to a Holiday Report from Astound Commerce, 70 percent of shoppers will make at least 26 percent of their purchases at Amazon, and 40 percent will use Amazon for more than half. "However, the entire holiday season continues to see exponential growth with Cyber Monday expected to be the largest U.S. online shopping day in history", said Taylor Schreiner, Director of Adobe Digital Insights. As of 10 a.m., sales had reached $840 million, a 17% increase from a year ago.
USA consumers kicked off the holiday shopping season with an online frenzy, breaking spending records over Thanksgiving and on Cyber Monday.
In early November, Adobe predicted that total digital sales for the holiday season would hit $107.4 billion, an increase of 13.8%.
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Not a bad start to the week, and it's highly likely that the deals will only get better and more varied as the week progresses. Deal comparison website Black Friday Dealer have been tracking the best Nintendo Switch and 3DS Black Friday deals.
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About 69 percent of Americans, or 164 million people, intend to shop at some point during the five-day period from Thanksgiving to Cyber Monday, according to a survey released by the NRF.
"People want to start getting into the holiday spirit and enjoy the concept of shopping and the holidays", he said.
Online's shopping growth is already an established trend, but IMRG says it works particularly well for sales.
"I like to see what I'm buying".
While brick-and-mortar sales may be down, the Mall of America in Minnesota reported that 2,500 people were in line before opening. Still, plenty of bargain hunters lined up - swarming into Best Buy stores.
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