Big US retailers were on Sunday rolling out a new round of discounts ahead of the official start of Cyber Monday, one of the biggest shopping days on the US calendar, in the hope of adding to Black Friday’s sales bonanza.
US consumers with smartphones and tablets boosted online spending between Thursday and Saturday to $6.1bn, a 19 per cent increase from last year, according to Adobe Digital Index, which tracked data on more than 200m visits to 4,500 retail websites. Mobile devices accounted for roughly 34 per cent of online sales, a record and an increase from 27 per cent in 2014.
Walmart, the world’s largest retailer by sales, Best Buy, an electronics retailer, and Macy’s department store were among the stores rolling out Cyber Monday sales on Sunday. Best Buy and Amazon, the world’s largest online retailer, are extending their Cyber Monday sales through the week. This was the first time Walmart started Cyber Monday early, with the retailer launching all its 2,000 deals on Sunday evening.
Online retailing has transformed holiday shopping but still accounts for only between 7 per cent and 16 per cent of US retailers’ sales, analysts estimate, so strong digital growth is coming from a relatively low base.
Early figures for the extended weekend, which traditionally kicks off the US holiday shopping season, showed an estimated decline in purchases in brick and mortar stores. Final spending figures will not be available until this week.
ShopperTrak predicted $12.1bn in in-store sales over Thanksgiving Day and Black Friday, an estimated decrease from the same period last year. Over the same two days, Adobe estimates online shoppers spent $4.5bn, a new record.
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Stores are still working on integrating their online and brick and mortar businesses. Many traditional retailers are offering deep discounts despite struggling financially.
Cory Brewer, who does most of his shopping online, said he had been persuaded to queue for an Apple Watch at one of Target’s Chicago stores on Thanksgiving evening because it came with a $100 store gift voucher.
The National Retail Federation projects that 135.8m people will shop in stores and online over Black Friday weekend, compared with 133.7m last year.
The NRF predicts 121m shoppers will buy items on Cyber Monday, down from 126m who planned to participate last year. The holiday shopping season begins much earlier, with 60 per cent of those surveyed having started buying in early November, the NRF added.
“You can call it omni-channel” shopping, said Matthew Shay, president and chief executive. “Tomorrow is a really big day for everyone.”
Some retailers decided to opt out of some of the frenzy. REI, a retailer of outdoor gear, closed its stores on Black Friday “so we can go outside and play”, saying it hoped consumers would do the same.
Date: November 30, 2015