Markets

Online sales boomed on Black Friday

Online sales boomed on Black Friday

Cyber Monday 2017 hit a new record as the largest holiday online sales day in history, with over $6.59 billion spent by the end of the day, according to a recent report.

Black Friday online sales totalled at least $3bn by Friday night, up 15.6% from a year ago, according to Adobe Analytics.

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.

Compared to Alibaba's Singles Day, Cyber Monday is still tiny. The promotion has grown every year in the time since, even as the general growth of online shopping has made the notion of a dedicated day for it somewhat irrelevant. The trade group projects that holiday retail sales in November and December this year will be up between 3.6 percent and 4 percent for a total between $678.8 billion and $682 billion. People increasingly know where to find the best deals and what they want to purchase, which results in less price matching behavior typically done on desktops. "This year, mobile shopping was dominant both in the morning and afternoon".

Merkel's Party Throws Support Behind Grand Coalition, But 'Not At Any Price'
Higher taxes for the rich, as well as a higher inheritance tax, would be used to pay "for education, communities and housing". Yet, returning to the so-called "grand coalition" between the natural rivals could be seen by many as a betrayal.

Top sellers on Cyber Monday included the Nintendo Switch, PJ Masks and Hatchimals & Colleggtibles figurines, Apple AirPods, streaming devices like Google Chromecast and Roku, and the video game Super Mario Odyssey.

Using NRF and Adobe numbers from 2016 gives us $94 billion in digital sales and $561.8 billion at brick-and-mortar stores. Adobe predicts this will be the first-ever holiday season to break $100 billion in online sales. Mobile set a new record representing 47.4 percent of visits (39.9 percent smartphones, 7.6 percent tablets) and 33.1 percent of revenue (24.1 percent smartphones, 9.0 percent tablets).

"The value spent is growing at a slightly slower rate than the number of transactions, indicating consumers may be opting to buy more goods at a lower price rather than investing in a handful of higher-value items". Approximately 61 percent of USA consumers were aware of Small Business Saturday going into the day, and of those, 82 percent said they planned to shop at a small, independently-owned retailer or dine at a small, independently-owned restaurant on the day.


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