For those who were able to pull themselves off the couch and fight through their weekend long Thanksgiving food comas to shop, it was one of the most successful weekends in years for retail. Interestingly enough, this year was the first where Cyber Monday kicked Black Friday off the thrown for highest sales to the start of holiday shopping season.
By the Numbers
The National Retail Federation’s statistics from the weekend are as follows:
174 million Americans shopped (2016 was 164 million)
96 % spent $335 on average.
Millennials topped that at $419.52
66 million shopped on Black Friday
55 million on Small Business Saturday
81 million on Cyber Monday
64 shopped both online and in-store
51 million were brick and mortar only
58 million only purchased online
Thanksgiving Day Shopping Drops
It was only in recent years that the controversial decision was made by many retailers to open their stores on Thanksgiving Day. Some shoppers jumped at the chance to get a head start on Black Friday and the masses that would ensue. On the other hand, others boycotted as they thought it was unfair to cut workers own holidays short, let alone their own. It seems that the hype that did surround the early sales has started to dim. According to Sourcing Journal, there were still “significantly more” shoppers at the stores on Thanksgiving and Black Friday then the week prior. Still only 11 percent of consumers made their purchases on Thursday which pales in comparison to the 25 percent after 10:00 a.m. on Black Friday or 49 percent of early birds who grabbed Cyber Monday morning deals.
Cyber Monday Wins
It’s official!-Nov. 27, 2017 has been crowned the “largest online shopping day in history.” According to Fashionista, Cyber Monday experienced a 16.8 percent increase from 2016 which comes out close to a BILLION dollars more. For all you who love numbers, that is a jump from $5.9 billion to $6.59 billion, respectively. Not surprisingly though was that mobile shopping increased, with smartphones being the choice du jour for nabbing sales on-the-go. As we know, e-commerce has increased drastically so it was only a matter of time before Cyber Monday would take the lead in terms of sales numbers.
Retailers and merchants can look forward to a hopefully a very merry retail quarter since it is predicted that holiday shopping will reach the $100 billion mark. And in the same report, it states online shopping in this month alone has reached $50 billion. Through the help of Black, Friday, Cyber Monday and the like, everyone’s hoping they can get “back in black” this season.