Energized shoppers break one-day holiday sales record | CNN Business

0 18




CNN

Whether they’re popping into brick-and-mortar stores or switching between bars and virtual carts, holiday shoppers were eager to get involved on Black Friday this year.

In-store and online retail sales rose year-over-year unadjusted for inflation, according to Mastercard’s SpendingPulse Insights, with apparel, jewelry and restaurant categories showing significant increases. Store sales jumped just over 1%, while e-commerce led the charge with an 8.5% increase.

However, according to Sensormatic Solutions, which tracks consumer traffic in brick-and-mortar stores, Black Friday visits increased 4.6% from 2022. That’s a change for retailers, the company says, with foot traffic down on average. 2.4% this year.

Grant Gustafson, head of retail consulting and analytics at Sensormatic, said in a statement: “While we expected an increase, in-store shopper traffic exceeded our expectations.” “Consumers are rediscovering the joy of brick-and-mortar shopping, seeing it as an experience to share with loved ones. It’s a testament to retailers’ commitment to simplifying trips and providing fulfilling experiences.”

Adobe Analytics, which tracks U.S. online shopping, predicts Black Friday sales will hit a record $9.8 billion, up 7.5 percent from 2022, driven by growing demand for electronics such as televisions, smartwatches and audio devices.

The majority of consumers browse and purchase on their phones, and mobile purchases accounted for $5.3 billion in sales. Adobe expects purchases made on smartphones this holiday season to surpass those made on desktops for the first time.

Online shoppers have also taken advantage of “Buy Now, Pay Later” (BNPL), installment plans that allow shoppers to make four payments for their online carts, generally several weeks apart. While some BNPL lenders charge interest or late payments, for major purchases or big spending days, these small loans can help stretch holiday budgets. Last week, 72% more consumers used BNPL plans than the week before, Adobe found.

E-commerce platform Shopify also reported worldwide sales of more than $4 billion, up 22 percent from last year. According to the company, the average cart value for U.S. consumers was $124, with top-selling categories including personal care, apparel and kitchenware.

With holiday shopping ramping up ahead of Christmas, analysts are predicting a busy period for retailers over the next few weeks. Adobe predicts Cyber ​​Monday will be the biggest retail event of the year, driving a record $12 billion in sales, up 6% from last year.

Sensormatic predicts that eight of the season’s busiest shopping days will be in December, and combined with Black Friday weekend, they’re expected to account for 40% of all holiday foot traffic this year.



Source link

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More