US Black Friday online sales make record high

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Europe

US retailers raked in a record 7.9 billion dollars in online sales on Black Friday and Thanksgiving, figures show.

Sales were up 17.9 percent from a year ago, according to Adobe Analytics, which measures transactions at the largest 100 US web retailers, as shoppers bagged deep discounts and bought more on their mobile devices.

Adobe said on Saturday that Cyber Monday is expected to drive 6.6 billion US dollars in Internet sales, which would make it the largest US online shopping day in history.

Online sales were up 11 percentage points. /VCG Photo

In the run-up to the holiday weekend, traditional retailers invested heavily in improving their websites and bulking up delivery options, preempting a decline in visits to brick-and-mortar stores. Several chains tightened store inventories as well to ward off any post-holiday liquidation that would weigh on profits.

TVs, laptops, toys and gaming consoles – particularly the PlayStation 4 – were among the most heavily discounted and the biggest sellers, according to retail analysts and consultants.

Commerce marketing firm Criteo said 40 percent of Black Friday online purchases were made on mobile phones, up from 29 percent last year.

Stores offered heavy discounts, creative gimmicks and free gifts to draw bargain hunters out of their homes, but some shoppers said they were just browsing the merchandise, reserving their cash for Internet purchases. There was little evidence of the delirious shopper frenzy customary of Black Fridays from past years.

However, retail research firm ShopperTrak said store traffic fell less than one percent on Black Friday, bucking industry predictions of a sharper decline.

"There has been a significant amount of debate surrounding the shifting importance of brick-and-mortar retail," Brian Field, ShopperTrak’s senior director of advisory services, said.

Customers buying products during Black Friday in Brooklyn, New York on Friday. /VCG Photo

"The fact that shopper visits remained intact on Black Friday illustrates that physical retail is still highly relevant and when done right, it is profitable."

The National Retail Federation (NRF), which had predicted strong holiday sales helped by rising consumer confidence, said on Friday that fair weather across much of the nation had also helped draw shoppers into stores.

The NRF, whose overall industry sales data is closely watched each year, is scheduled to release Thanksgiving, Black Friday and Cyber Monday sales numbers on Tuesday.

US consumer confidence has been strengthening over this past year, due to a labor market that is churning out jobs, rising home prices and stock markets that are hovering at record highs.

Source(s): Reuters