‘Black Friday’ Merging with ‘Cyber Monday’ for Record Sales
The buying and selling pace that was set Thanksgiving Day carried over into Black Friday as consumers continued to open their wallets at a record-setting rate, according to the latest data.
We learned that Friday evening that consumers had spent $4.1-B as of 8:00p ET, which represented 23.3% growth Y-Y, and spending was on pace to total more than $6.2-Bduring the full 24-hour frame across the country.
That number makes Black Friday 2018 the 2nd-biggest online shopping day ever, just behind Cyber Monday 2017’s record $6.6-B in online sales.
These numbers show us that the trend of Black Friday shopping is shifting to mobile devices was in full effect on this day. In Black Friday purchases made on Smartphones was on track to break the current record of 1-day Smartphone sales, which is $1.4-B on Cyber Monday 2017.
Plus, 34.3% of all online Black Friday purchases were made on a Smartphone, up from 29.1% on Black Friday last year.
“As retailers invest in improving mobile experiences, consumers are clearly feeling more confident in buying higher-ticket items their smartphones,” a director at Adobe Digital Insights, said in a statement. “While some Americans might have been waiting in lines at stores today, the data suggests that at least some of them joined their peers in shopping on their phones — and buying more than they did in years past.”
A few interesting bits on Smartphone shoppers on Black Friday 2018: Adobe Analytics found that iPhone users were 12% more likely to purchase after reaching a retail website than their Android counterparts; smartphone visits to a retail website were 5.2% shorter, and the number of visits that resulted in purchases was up 7.6%. So, shoppers are spending less time on retail websites this year, but they are completing purchases more often.
A lot of the attention this weekend is focused on the online performance, but retailers are still reporting strong in-store foot traffic too.
The National Retail Federation (NRF) will host a post-Black Friday 2018 conference call early next week to share their findings, but prior to the weekend, the NRF reported that it expected 164-M people to shop during this Holiday shopping weekend.
“Whether it’s heading to the stores after finishing their turkey or going online on Cyber Monday, consumers will be shopping all weekend and retailers will be ready to meet the demand,” NRF President and CEO Matthew Shay said in a statement. “Retail is a vibrant, dynamic and competitive industry, but one thing is certain – consumers are the winners no matter which day or which way they shop.”
Of those consumers who said they planned to shop, Black Friday was the strongest performing day with 71% of consumers (116-M people) saying they planned to shop on that traditional retail holiday. Another 21% (34-M) identified Thanksgiving Day, 41% said Small Business Saturday (67-M), 20% (32-M) said Sunday, and 46% (75-M) identified that they will be shopping on Cyber Monday.
So, while the online traffic and revenue performance is on a record-setting pace, brick-and-mortar retail appears to be in an equally strong position this year.
Have a terrific weekend.