Thanksgiving Weekend Sales Soar Across the Board

Thanksgiving Weekend Sales Soar Across the Board

Thanksgiving Weekend Sales Soar Across the Board

The federation said an estimated 174 million people went shopping over the Thanksgiving holiday, about 10 million more than it had forecast. 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.

- Shoppers are opening their wallets: Total holiday spending is expected to climb about 4 percent this year - in line with 2016's gain - but holiday cheer has infected some consumers with a vengeance.

Three days after bringing in $5.03 billion online on Black Friday, retailers outdid themselves once again, reeling in a record $6.59 billion on Cyber Monday - 16.8% growth year-over-year. 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.

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.

Meanwhile, a record $5.03 billion was spent online during Black Friday, an increase of 17 percent when compared with a year ago, according to Adobe.

Millennials, who are often one of the trickiest consumer groups for retailers, were big spenders this past weekend.

"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.

According to the retail analytics firms, Black Friday and Thanksgiving online sales in the United States towered too high records as shoppers got deep discounts and bought more on their mobile devices, announcing a promising start to the important holiday season. There were 58 million consumers who only shopped online compared with 51 million who stuck to the stores, according to the data.

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

The research firm said the $6.59 billion spent on a day dedicated to e-commerce was a 16.8 percent increase from a year ago and resulted in the largest US online shopping day in history.

What's also interesting, though not at all surprising, is that the number of transactions being completed via mobile devices is on the rise. Adobe found that smartphones accounted for slightly more traffic than desktop computers on Thanksgiving, but not on Black Friday.

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.

Neil Stern, a senior partner at Chicago-based McMillan-Doolittle, experienced it firsthand as national retailers such as Wal-Mart Stores Inc., and Target Corp. competed for sales by offering discounts and promotions.

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