Online sales record for Thanksgiving and Black FridayBlack Friday has only just begun but already early reports show a record number of online sales as well as consumers using their mobile devices for shopping. The software firm Adobe tracks sales at 4,500 websites and could report a 50% rise in mobile commerce. Only half way through the day online sales was already $500 million strong, thereby online sales were up $100 million from the same period last year. Prices are expected to continually drop as more Black Friday sales come online. The rush on the night of the US holiday, a month before Christmas, reflects the new normal in US holiday shopping and this seems to be clearly dominated by online sales.
The research by Adobe and the high sales numbers have not only shown that more and more people are becoming online shoppers, but we are also spending more in the process. Overall this holiday period is projected to bring in between $70 and $90 billion in e-commerce sales. Since most shops are closed on Black Friday, retailers like Walmart and Amazon are using this circumstance to already promote deals. The day before Black Friday the average discount on goods was 24% and this number is expected to grow as more Black Friday deals are released.
This year about 20 percent of holiday shopping is expected to be done over the Thanksgiving weekend. This will set the tone for the retailers and show them how to adjust their promotions and prices. Despite the strong online sales, shoppers are expected to be cautious with their spending again this year. The National Retail Federation is expecting holiday sales to rise 3.7 percent, slower than last year's 4.1 percent growth rate, due to stagnant wages and sluggish job growth.
Last modified: 12:43 - December 1st, 2015
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