News Worms
News Worms


Feds Celebrate Cyber Monday By Showing How Big Online Retailers Have Become

Feds Celebrate Cyber Monday By Showing How Big Online Retailers Have Become

By 2016, the number of online retailers increased by 460 percent to more than 20,000 establishments, well above the growth rate of their competitors. But this year, Cyber Monday sales are projected to set new records.

In comparison, Black Friday and Thanksgiving Day brought in $5.03 billion and $2.87 billion in revenue respectively, according to Adobe, which predicts this will be the first shopping season in history to break the $100 billion barrier. Consumers have already spent $50 billion online since the start of November, according to Adobe.

Weeks of deals didn't stop people from heading online to shop on the Monday after Thanksgiving.

While the Christmas season is officially kicked off by Black Friday, Gibbons said many stores are now starting the season earlier, displaying holiday and discounted items sometimes a month before Black Friday. Total sales this year exceeded the indicators of last year nearly 18%.

Separately, preliminary estimates by data analytics company ShopperTrak said foot traffic decreased less than 1 percent in physical stores when compared to Black Friday 2016. Kit Yarrow, a consumer psychologist and professsor emeritus at Golden Gate University in San Francisco, says her research with consumers indicates many of them are snapping up all the good deals they see with plans to return the items they ultimately will decide not to give as holiday gifts. The crowds of people competing against each other to take advantage of the low prices have become an American tradition in of itself - often resulting in a frenzy and the occasional fight. ShopperTrak added that after Black Friday, Dec. 23 and Dec. 16 - both Saturdays - will be the second and third busiest shopping days of the season. "Millennials were likely another reason for the dramatic growth in mobile, with 75 percent expecting to shop via their smartphone". Black Friday saw the largest discounts in computers (15.9 percent on average), followed by TVs (21.6 percent) and toys (17.3 percent).

Cyber Monday has traditionally been an especially strong day for buying online.

So what about the traditional department store? But Salesforce, surveying the signs so far, claims that "when it comes to holiday shopping, shoppers now overwhelmingly choose digital".

No actual data for Friday's brick-and-mortar business was immediately available.

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