Thanksgiving Weekend Sales Soar Across the Board

30 November, 2017, 13:52 | Author: Patty Aguilar
  • Jack Taylor  Getty Images

From Thanksgiving Day through Cyber Monday, more than 174 million Americans shopped in stores and online during the holiday weekend, beating the 164 million estimated shoppers from an earlier survey by the National Retail Federation and Prosper Insights and Analytics. More than 58 million people only shopped online during the long weekend, compared to 51 million who only shopped in stores.

The NRF reported spending per person over the five-day period was $335.47, with $250.78 - 75% - specifically going toward gifts.

He said 91 percent of consumers still have shopping to do over the next month, and 90 percent of them expect promotions and discounts to be similar to those offered by retailers over Thanksgiving weekend. A growing percentage of those sales were made on smartphones, with over $2 billion in online sales made with smartphones on Cyber Monday, according to Adobe.

The National Retail Federation did not produce data estimating the total amount spent by USA consumers online and in stores.

In its report, Adobe reported that the holiday season to date (Nov 1 - Nov 27) has brought in $50 billion in online shopping revenue, 16.8% growth year over year. The average order value (AOV) of a Cyber Monday purchase was $103, down from $106 in 2016, and $10 less than the AOV of Black Friday purchases.

A wide variety of retailers both online and on the high street have been extending their deals from before Black Friday and to beyond Cyber Monday as the sales period shifts to take advantage of the pre-Christmas rush. The biggest spenders were Millennials 25 to 34 years old, who dished out $419.52. "At the end of the day, a sale is a sale is a sale, whether it happens in-store or online", he said.

Of those who chose to shop at the last minute, 52 percent planned to shop online.


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.

Amazon accounted for half of the sales on Black Friday.

Analysis from other research firms showed traffic to stores falling over the holiday, though the decline was not as steep as some predicted.

The industry trade group has been calling for retail sales - excluding automobiles, gasoline and restaurants - through November and December to increase as much as 4 percent this year, reaching up to $682 billion.

That's why while online sales are cutting into brick-and-mortar retailers' profits, those companies have to go online or face losing market share, said Gerald Storch, chief executive of Storch Advisors.

Top shopping destinations included department stores (43 percent), online retailers (42 percent), electronic stores (32 percent), clothing and accessories stores (31 percent) and discount stores (also 31 percent).

Deepest Discounts on Cyber Monday Cyber Monday offers continued the trend of big savings, with even deeper dollar-off discounts than Black Friday.

Recommended:



Popular

Washington state AG sues Uber over data breach
The group of European data protection authorities said today they set up a task force to probe ride-sharing company Uber. Almost 11,000 drivers in the state were affected.

White House: Trump's Idea to Name Mulvaney CFPB Director
Hours later, Trump named Mulvaney, the current director of the White House budget office, as temporary head of the CFPB.

Warriors vs. Kings, Monday night
The Warriors of Golden State will host the Sacramento Kings without their stars Stephen Curry and Kevin Durant on Monday night. The 33-year-old has played in 18 of Golden State's 20 games this seaosn, averaging 6.3 points-per-game.

Russian fighter jet performs 'unsafe' 24-minute intercept of United States aircraft
The Pentagon confirmed the incident to CNN, which reported the jet came as close as 50ft to the US P-8A Poseidon recon aircraft. She later told Newsweek : "Unsafe actions have the potential to cause serious harm and injury to all air crews involved".

Fear The Walking Dead Is About To Get A New (Old) Character
Morgan Jones is departing The Walking Dead and headed to Austin, Texas to be featured in Fear The Walking Dead season 4. The statement further says, "Morgan's arch on The Walking Dead Season 8 positioned him for the story on Fear ".

Vladimir Putin Signs Bill Targeting International Media Outlets
USA intelligence officials have accused the Kremlin of using Russian media sources to interfere in the presidential election. Putin signed the bill into law Saturday after the upper chamber of the Russian parliament adopted it Wednesday.

Grange Congratulates Miss Jamaica Universe Davina Bennett
Meanwhile, Laura Gonzalez of Colombia and Davina Bennett of Jamaica were crowned 1st runner-up and 2nd runner-up, respectively. American comic turned TV host Steve Harvey hosted the event for the third time, making several jokes at his own expense.

Dan Mullen Targeted By Gators
Dan Mullen arrived in Gainesville wearing his national championship ring from 2008, when he was Gators' offensive coordinator. Mullen's hiring Sunday ended a four-week process to replace Jim McElwain that left Gator Nation drained of energy.

After President Trump Slams CNN, James Comey Posts "Freedom of Press"
It took no time for CNN to fire back at Trump , and the internet is loving the network's response. Trump's tweet is his latest attack on CNN, which he branded earlier this year as "fake news".

Halftime Report: Buccaneers vs. Falcons
He entered the game needing 107 receiving yards to break the league record for the most in the first 90 games of a career. The Buccaneers defense is going to have nightmares about Jones until they face the Falcons again on December 18.