Your Smartphone Just Killed Black Friday

Your Smartphone Just Killed Black Friday

Your Smartphone Just Killed Black Friday

It brought to a close the post-Thanksgiving Black Friday shopping fest in which 164m Americans, 70pc of the population, are expected to have gone out in search of a pre-Christmas bargain.

As of 10 a.m. Monday, Americans had spent almost $14 billion online since Thanksgiving Day, when many companies started their Black Friday sales, according to Adobe Analytics.

According to Business Insider, the most notable retailers emerging from the holiday shopping scrum include Amazon, Macy's, Gap, Kohl's, J.C. Penney and Walmart.

The figures suggest that Cyber Monday could have generated £7m more in total sales than Black Friday.

Separately, preliminary estimates by data analytics company ShopperTrak said foot traffic decreased less than 1 percent in physical stores when compared to Black Friday 2016.

"There has been a significant amount of debate surrounding the shifting importance of brick-and-mortar retail", Mr Brian Field, ShopperTrak's senior director of advisory services, said. At the time of writing, a 16.5% increase in sales for Cyber Monday is expected by Adobe.

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Thanksgiving and Black Friday were not the only days where retail outperformed expectations according to analysts at Cowen. Adobe projected internet sales would still reach a record $5 billion by the end of the night, with online retailers forecast to rake in an additional $6.6 billion on Cyber Monday.

Here and there were signs of the pandemonium for which Black Friday was long known. "Black Friday isn't just a day anymore - it's a whole season".

The period between the Thanksgiving holiday and Christmas can make or break a retailer, accounting for up to 40% of annual revenue. As of 10 a.m., sales had reached $840 million, a 17% increase from previous year.

What can small retailers and businesses do to stop the onslaught? Moore said he's done some online shopping, but the allure of in-store-only deals drew him out from behind the computer.

Digital retailers get a lot of the holiday sales hype because they have been growing at a faster rate than traditional brick-and-mortar chains.

The trend we are seeing play out in the retail sector - where some stocks are viewed as winners while others are viewed as losers - is a microcosm of the larger trends we are seeing play out in the market in general.

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