Friday, 15 December, 2017

5 takeaways from Black Friday weekend

CNN Money graphic CNN Money graphic
Juana Turner | 30 November, 2017, 13:10

Yes, that means the Switch outranked deals on both the PlayStation 4 and the Xbox One X. Bear in mind that the PlayStation 4 just had its most successful Black Friday yet for selling consoles, so it's safe to say the Switch is selling at some incredibly successful numbers for its first year.

- But much of that money is headed online: E-commerce sales are up about 17 percent this season, according to Adobe Systems.

The only big recent shopping day where online sales may have exceeded store sales was Cyber Monday, Storch said.

The kickoff to the holiday shopping season is a now a five-day affair of discounts and perks - and nicknames, stretching through Black Friday into Small Business Saturday and finishing on Cyber Monday.

"All the fundamentals were in place for consumers to take advantage of incredible deals and promotions retailers had to offer", said Matthew Shay, NRF president and CEO. Many retailers started sales the Monday before Thanksgiving - though H&M and Amazon kicked off markdowns before that - and let them bleed into the weekend, through Cyber Monday, and into today. But we're certainly encouraged that we're starting off from a position of strength. The people who shopped both online and in stores spend $82 more, on average, than the online-only shopper and $49 more than the in-store only shopper.

According to Tech Crunch, Cyber Monday sales raked in 840 million dollars online so far.

Early Black Friday results suggest a comparable performance. For purchases made on smartphones, Apple iOS led with an average order value (AOV) of $123, in comparison to Google Android at $110.

The research also found that millennials were the most enthusiastic shoppers of all, with those aged between 25 and 34 spent $552 (approx.) over the same time frame.

The sales data for traditional brick-and-mortar stores is still unavailable. Other popular destinations were electronic stores (32 percent) and discount stores (31 percent), according to NRF's survey of roughly 3,200 consumers. To the contrary, stores still captured most sales, but it does show how more consumers are browsing and shopping online these days and there's no going back. Yet although Cyber Monday has become the posterchild for online holiday shopping, the day still hasn't dominated social media, giving weight to the idea that retailers can be doing more to promote Cyber Monday deals.

Nearly 22 million consumers from across the country are thought to have made a purchase on November 27th this year, taking advantage of retailer discounts and contributing to a total £7.8 billion spend carried out across the entire four day spree which began last Friday.

The long weekend had set retailers up for a strong finish to the year, Shay said, but they would need to keep inventory tight to deliver similar or deeper discounts that the vast majority of consumers are expecting for the rest of the holidays.

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