Local stores offering Cyber Monday deals

Javier Stokes
November 30, 2017

Online sales grew significantly on Thanksgiving, and early results from Black Friday suggest a similar performance, according to Adobe Digital Insights.

More people shopped from Thanksgiving through Cyber Monday than had been forecast - 174 million vs. 164 million - and they spent an average of $335.47 each, but the dominant place in shoppers' minds was online, according to a survey from the industry's largest trade group. As of last night, Cyber Monday was on track to hit $6.57 billion in sales, up almost 17 percent from 2016, making it the biggest one yet.

Meanwhile, Adobe Analytics says Cyber Monday was the biggest US online shopping day ever, with a record $6.59 billion spent.

It's far from surprising to hear TVs and computers got some of the deepest price cuts on both Black Friday and Cyber Monday, with the latter's best-selling electronics list toplined by devices like Google Chromecasts, Apple iPads, Samsung tablets, Apple AirPods, and Sony's PlayStation VR headset.

Matthew Shay, president of the National Retail Federation, said he believes consumer confidence, a strong economy and favorable weather all played a role in the weekend results released Tuesday. The trade group said Tuesday that the shopping data reaffirmed its earlier prediction that total sales this holiday season would increase by as much as 4 per cent over previous year. Multichannel shoppers were the biggest spenders over the weekend, spending on average $49 more than those who shopped in-store only and $82 more than those who shopped online only. The top two days for online shopping were Cyber Monday with more than 81 million surfing for deals and Black Friday with more than 66 million virtually browsing. Matt Shay concludes, "We had a very strong Black Friday Weekend".

Preempting a decline in visits to brick-and-mortar stores, many traditional retailers have invested heavily in their websites, bulking up delivery options, and tightening store inventories to ward off any post-holiday liquidation that would weigh on profits.

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The value of inventory retailers have in stock was up an average of 34 percent last weekend versus last year and up 43 percent on Cyber Monday from a year ago, Engel said.

Busiest Days: The most popular day for in-store shopping was Black Friday, cited by 77 million consumers, followed by Small Business Saturday with 55 million consumers. Stores offered substantial discounts, creative gimmicks and gifts to draw discount hunters out of their homes, but some shoppers said they were just scanning the merchandise, saving their cash for internet purchases.

Cyber Monday, which has traditionally been an online-only 24-hour sale, is expected to have seen 21.5 million people buying discounted goods.

For Thanksgiving week (November 23 through 26), online sales totaled $13.03 billion, a 14.4 percent increase year-over-year.

More than 64 million consumers shopped both online or in stores over the Thanksgiving weekend period, even as about 58 million shopped online only and about 51 million shopped in stores only.

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