Online sales surge, but buyers browse at shops first

29 November, 2017, 01:05 | Author: Barbara Daniel
  • Joshua Bamfield retail expert predicts some sites will not be able to cope as “people will spend big online”

After two weak holiday seasons, many retailers opened their doors early on the eve of the shopping holiday, like Macy's flagship store in New York City.

Personally, I'd recommend leaning into a niche for your store.

United States retailers raked in a record US$7.9 billion (S$10.6b) in online sales on Black Friday and Thanksgiving, up 17.9 per cent from a year ago, according to Adobe Analytics, which measures transactions at the largest 100 U.S. web retailers.

As consumer Group Which? pointed out last week many of last year's so-called Black Friday deals were cheaper or available at the same price at other times of year.

Brian Field, ShopperTrak's senior director, said that there had been an important amount of debate surrounding the shifting importance of brick-and-mortar retail.

Yesterday was Cyber Monday, the end of the biggest retail weekend of the year. Nearly all online purchases use a card of some sort, and a survey by creditcards.com this year showed that overall around three quarters of purchases involve either a debit or credit card, Interestingly, despite the emergence of digital wallets, that number is still increasing as cash usage dwindles. That's an increase of more than 15% over last year's numbers. They had ended the regular session up 2.1%, boosted by comments from Chief Executive Jeff Gennette, who told CNBC that Macy's was better off this year than last, had robust online demand and was in a good place for holiday promotions.

Amazon nabbed almost half of all Black Friday orders - between 45 and 50 percent, a new report from GBH Insights notes - making over a billion dollars within the 24-hour period last Friday.

About 69 percent of Americans, or 164 million people, intend to shop at some point during the five-day period from Thanksgiving to Cyber Monday, according to a survey released by the NRF. Here's a look at the aftermath of the holiday shopping spree.

The growing online shopping trend has forced the toy chain Toys R Us and apparel retailers True Religion, The Limited, Rue21 and Payless Shoe Source to file for bankruptcy in 2017.

While brick-and-mortar sales may be down, the Mall of America in Minnesota reported that 2,500 people were in line before opening.

And they just keep buying - online. Macy's CEO Jeff Gennette told CNBC Friday morning that traffic at the department store chain's flagship Herald Square location already looked to be stronger than a year ago.

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