Economy

Black Friday Is Mutating

Black Friday Is Mutating

About 81 million people shopped online on Monday, a day of big internet sales known as Cyber Monday, according to the National Retail Federation.

The turnout far exceeded the 164 million who said they planned to shop over the five-day weekend in previous surveys, and gave retailers a welcome boost heading into the final five weeks of the holiday shopping season. The multichannel shopper spent $82 more on average than the online-only shopper, and $49 more on average than those shoppers who only shopped in stores.

From Thanksgiving Day through Cyber Monday, the average shopper spent $335.47, with $250.78, or 75 percent, going toward "gifts".

Cyber Monday is expected to have beaten Black Friday for the first time to become Britain's biggest shopping day of the year. The survey results are based on responses from 3,242 consumers and has a margin of error of plus or minus 1.7 percentage points. "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".

Black Friday weekend no longer brings a stampede of crazed shoppers to America's malls.

"You did see the expected surge in online shopping and the fact that Cyber Monday was a record day doesn't surprise anybody", Stern said.

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RetailMeNot, Inc. estimates that approximately $4.4 billion in retailer sales were attributable to consumer transactions from paid digital offers in its marketplace in 2016, more than $600 million of which were attributable to its in-store solution.

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. Shopping is increasingly flowing online, with mobile devices becoming the preferred means of commerce.

Adobe Analytics measures 80 percent of online transactions at 100 major USA retailers.

Analysis from other research firms showed traffic to stores falling over the holiday, though the decline was not as steep as some predicted. Sales on Thanksgiving and Black Friday also topped prior years and e-commerce leader Amazon.com Inc said it broke sales records this weekend.

When it comes to factors retailers can control, Shay says this year "Retailers have invested heavily in experience and tech... and saw those investments gain traction and pay off". And while a strong Black Friday weekend is never perfectly correlated with how a holiday season goes, Shay added that "We are certainly encouraged that we are starting off from a position of strength". Roughly 64 million shopped both in stores and online.

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.