I have talked about it for years, and the trend continues. One thing is Covid-19, but another one is online shopping. People around the world are shopping more online and the trend continues to increase.
Just take a look at Black Friday 2020 that totaled $9 billion on U.S retail sites, according to Adobe Analytics. That`s a 22 percent increase from last year. On the other side; U.S store visits dropped by 52 percent in the same period.
The distinctions between Black Friday and Cyber Monday have become increasingly blurred, and I look forward to seeing the numbers from Cyber Monday. Not only that. Take a look at the Thanksgiving store traffic. It dropped 95 percent. Wow.
67 percent of sales were made on mobile, compared to 33 percent of sales made on a desktop. Top-selling cities included New York, London, and Los Angeles. Top-selling countries include the United States, the United Kingdom, and Canada.
Black Friday online sales reached a new record high as pandemic-wary Americans filled virtual carts instead of real ones. Traffic to physical stores plummeted, but Black Friday is still one of the biggest in-person shopping days in the U.S this year.
People love days like this; Thanksgiving, Black Friday and Cyber Monday. So far, Black Friday has been very chaotic, but this time it was much better. This is very important days for all the retailers, So, how is it going for them this time?
It`s no doubt; Trump`s booming economy is working. Thanksgiving broke records with $4,2 billion in online sales. Black Friday also hit a new high. Consumers spent $7,4 billion online last friday buying goods online via computers, tablets and smartphones.
Smart people buy products on days like this, and if you are one those who didn`t use your card last week, you have a few hours to do it today. On Cyber Monday. And if you do, you will not be alone to do it.
Last year, Cyber Monday sales hit $7,9 billion, but today it is estimated to hit $9,4 billion, according to Adobe Analytics. If this holds, it will be a jump of 18,9% from last year.
Shoppers do not go to the stores on days like this. It`s all about online sales. Not only that. Extreme weather will also force some people to shop online, and shoppers are expected to spend $11 million per minute during the peak hour of 11:00 p.m ET.
The reason why the lines were thiny on Black Friday is the retailers early sales start. Retailers began sales in early November, so people didn`t wait until Black Friday or Cyber Monday this time. This also means less chaos.
In fact, Black Friday was predicted to be the busiest shopping day of the year in the U.S for shoppers to head out to stores, but people made it online on their shopping carts. Online spending on Black Friday hit a record of $5,4 billion, and that is up 22,3% from last year.
The winners in this game so far is Target, Best Buy and Walmart, while the department stores are still a little bit slower. Both, Target and Walmart saw bigger jumps in online customer spending than Amazon during the first two weeks of November.
Nordstrom had the biggest jump in online sales. Up 60%. Second is Walmart with a 53% jump, while Amazon on the third place jumped 49%, and that`s huge for an already Giant in online sales if you ask me.
Buy online and pick up in stores as well as curbside pickup services since November 1 have seen a 43,2% growth since 2018, according to Adobe. Shoppers have so far spent a record $72,1 billion online between November 1 and December 1. Shoppers are also on track to hit $143,7 billion in online sales for the full holiday season.
One of the most popular products on days like this is a Smartphone. So, it`s headed for a new online spending record next year. Or…..
Cyber Monday is a marketing term for the Monday after the Thanksgiving holiday in the U.S. The term «Cyber Monday» was created by marketing companies to persuade people to shop online. It all started on November 28, 2005.
Cyber Monday online sales grew to a record $2,68 billion, compared to last year`s $2,29 billion. However, the average order value was $124, down slightly from last year`s $128.
Online sales on Monday climbed to a new record high, and the sales came in at $2,68 billion, and that is the best online spending day ever. It is also the first to surpass $2 billion in sales.
The weekend after Thanksgiving was popular for online shopping too. The sale was up 26% compared to the same time last year. It seems like this online shopping will continue to post new historical highs, and that reflects the ongoing strength of online shopping.
IBM says that the online sales jumped only 8,5% this year compared to last on Cyber Monday. This is less than last year when online sales jumped more than 20% by its measure.
Some belive it`s a change in shopping behavior and not a lack of consumer demand. It is a larger shift toward online buying as mobile phones spur the practice known as «showrooming». People tend to go to the store to see the products and buy them, or a similar product online. Price is a very important trigger here. Why spend some time to go to the shop if the price is lower online?
Cyber Monday is the busiest U.S online shopping day of the year, and that title is held since 2010. Walmart said it received the most online orders in its history on Cyber Monday. Mobile made up about 70% of the traffic to its website between Thanksgiving and Cyber Monday.
This is called Cyber Monday, so how is the online marketing? Is it working?
Social Media did very little to boost sales this year driving only 1,5% of sales. According to IBM, Facebook referrals drove an average of $109,94 per order compared to $100,24 for Pinterest. Facebook referrals converted online sales at more than twice the rate of Pinterest.
What really works better is e-mail marketing which was the primary driver of sales on both Black Friday and Cyber Monday beating the usual winner; search. Companies sent out 11% fewer e-mails this time, but the e-mails were more targeted.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Shiny bull. The author has made every effort to ensure accuracy of information provided; however, neither Shiny bull nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Shiny bull and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
More sales to Amazone and Ebay. Not only Thanksgiving and Black Friday is increasing their revenue. Cyber Monday Sales is coming on top of that. What`s next? Consumer Confidence is falling, but online shopping is taking off!
Web sales is projecting to climb 15% this holiday season, while retail sales is growing only 3,9%. This is three times faster than the retail sales. Cyber Monday has historically been the single biggest shopping day of the year so far for U.S retailers, but this is not the reality anymore as the web shops continue to gain share.
Shopping on tablets and smartphones increased twice as fast in the third quarter as desktop online spending, according to ComScore. Thanksgiving have shown that tablets are more popular for purchases, while mobile phones are preferred for browsing.
This is good news for FedEx, Ups, DHL and U.S Postal Services. As the online shopping increase, the amount of packages, revenue and work for the shipping companies will also increase. Amazone and Ebay are big, but there is someone out there that is much much bigger and they are not on the stock exchange yet. I will write about them later.
Investors and money makers are now waiting for December 18.
Online shopping is taking off. Amazon was the most visited online retailer followed by EBay and Wal-Mart`s site. It is reported that the online orders is twice as many on black friday this year than last year.
The trend is that the shoppers is planning to buy before they shop, and it is a lot of mission shopping going on. That is bad news for retailers because they lose their impulse purchase which is about 20% of their holiday sales.
The report Institute of Supply Management`s November manufactoring survey will be on the radar today. This is the most closely followed report, and gives a great snapshot on the economy for the recent month. It is expected to fall back to 55 in November (56,4 in October).
ADP data on private-sector employment, the trade balance, new home sales, ISM non-manufacturing index and FED`s Beige Book later this week are interesting news. Later on we have jobless claims, and a revision to third-quarter gross domestic product and factory orders.
News sometimes moves the markets. Money makers has lost faith in Gold and the gold price is dropping down, trading at $ 1235,90. Gold is set for the first annual drop in 13 years. News today: FED chairman Ben Bernanke speaks at 8:30am, ISM Manufactoring PMI at 10:00am.