Consumers and retailers win big over Thanksgiving holiday | National Retail Federation

Consumers and retailers win big over Thanksgiving holiday | National Retail Federation

Consumers and retailers win big over Thanksgiving holiday | National Retail Federation

E-commerce's unrelenting march toward domination of the retail industry accelerated during the Thanksgiving holiday, as Americans spent billions more shopping online than they did a year ago.

A separate report by Adobe Insights found that $6.59 billion was spent online on Cyber Monday, with mobile devices ringing up a record $2 billion in sales in one day.

While the shift away from stores has been happening for years, the evolution continues to accelerate. According to the National Retail Federation, 174 million people went shopping over the weekend, more than the 164 million the agency had projected. The NRF, whose overall production sales data is strictly observed every year, is scheduled to release Black Friday, Thanksgiving and Cyber Monday sales numbers on Tuesday. "I think that does bode well for the rest of the year". The biggest spenders were Millennials 25 to 34 years old, who dished out $419.52. While pressure from Amazon and other online channels remains, many retailers, like Nordstrom and Kohl's, have been able to avoid falling profits in spite of the upheaval.

Of those who chose to shop at the last minute, 52 percent planned to shop online. It was also unable to provide the amount of total sales generated, saying that it would be hard to extrapolate a figure from its sampling of consumers. 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.

Shay said that although some say that retail stores are in their death throes, 24 of the top 25 e-commerce sites are still legacy brick-and-mortar retailers such as Walmart and Best Buy. "But there is no question that physical shopping is losing to online shopping". Throughout Thanksgiving, Black Friday, and Cyber Monday, the Nintendo Switch became the internet's best-selling purchase, pointing to a successful holiday season ahead for Nintendo, Markets Insider reports.

Black Friday and Thanksgiving online sales in the United States rose to record highs, while brick-and-mortar store traffic fell slightly, heralding divergent trends in retail industry in the year-end shopping season, according to retail analytics firms on Sunday.

Adobe Analytics said online shopping over the five days was a record $19.6 billion.

"The past Cyber Monday behavior of shopping on your work computer during the day is nearly completely reversed".

Egyptian security official to mediate between Fatah and Hamas
On Sunday, two Fatah leaders accused Hamas of hindering the Palestinian government from operating in the Gaza Strip. Israel captured all three areas in the 1967 Six-Day War, although it withdrew from Gaza in 2005.

Televisions were the most discounted items, with markdowns averaging about 20 per cent.

What's also interesting, though not at all surprising, is that the number of transactions being completed via mobile devices is on the rise.

Brick-and-mortar retailers entered the Thanksgiving under a cloud of gloom. While Macy's experienced a credit card glitch on Black Friday that may have pressured sales, the stock was helped by optimistic comments by CEO Jeff Gennette, who said that holiday sales were off to a good start and that seasonal garments like coats, boots, and sweaters were all trending well.

Online spending totaled $5 billion, up significantly from $3.34 billion past year.

Black Friday online sales were stronger than forecasted, but footfall slowed significantly over the weekend.

As for destinations, 43% of consumers shopped department stores, 42% shopped online retailers, 32% shopped electronic stores, 31% shopped clothing and accessories stores, and 31% shopped discount stores.

On Black Friday, the Federal Bureau of Investigation was flooded with 203,086 requests by federally licensed firearms dealers to conduct background checks on prospective gun buyers.

The uptick on online shopping isn't just planning on lasting until today, but online sales are expected to also increase by 13.8 percent this year.

Related news