Foot Traffic Analysis Shows Height of Black Friday Retail Bump

  • Foot Traffic Analysis Shows Height of Black Friday Retail Bump

Foot Traffic Analysis Shows Height of Black Friday Retail Bump

174 million U.S. consumers showed up to shop over the five days from Thanksgiving to Cyber Monday, 10 million more than was anticipated. The National Retail Federation, which had foretold strong holiday sales helped by improving consumer faith, said on Friday that fair weather across much of the nation had also helped attract customers into stores. Multichannel shoppers were the biggest spenders over the weekend, spending on average $49 more than those who shopped in-store only and $82 more than those who shopped online only. But the group said the average amount spent per person was $335.47 with 75 percent of it going toward gifts.

Cyber Monday, the Monday after the Thanksgiving, is expected to rake in 6.6 billion dollars in online sales, making it the biggest US online shopping day in history, said the report.

"This is due in large part to deeper discounts on Monday than on Friday, and lower (or no) free shipping thresholds", wrote Rick Kenney, Head of Consumer Insights at Salesforce Commerce Cloud in a blog post. This worry will likely drive more shoppers to pick up gifts in stores during the final days of the season.

Expected shopping surge in the late hours of Cyber Monday: Three hours in the evening of Cyber Monday (8-11 each local market) are expected to bring in more online revenue than the average 24-hour day.

For some retailers, those numbers were even higher: Shopify, an e-commerce software provider for small- and medium-sized businesses, says that mobile transactions accounted for 60 percent of all sales yesterday, up 11 percent from past year. That doesn't mean more money was spent online. Adobe expects online sales to top $107 billion this holiday season. For the first time in the U.S., Cyber Monday mobile revenue has broken the $2 billion barrier, according to Adobe Digital Insights.

The 2017 holiday shopping season is off to a healthy start, with consumer spending on Black Friday reaching a record $5 billion.

"We find that Black Friday shoppers are actually more active on their phones than shoppers during typical days", Sutton says. E-commerce continued to be a focus for retail marketers on Black Friday, as 57% of the top 100 offers on RetailMeNot were online-only.

Of those who chose to shop at the last minute, 52 percent planned to shop online. Despite the promotions and markdowns that shoppers experienced this past weekend, retailers are showing no signs of pulling back on discounts and deals in the weeks ahead, said Sarah Engel, chief marketing officer at Dynamic Action, a data analytics company that tracks online transaction.

This stronger-than-expected performance was achieved in spite of a number of factors that could have exerted a negative influence on growth, such as Black Friday occurring before pay day this year, and many retailers launched discounting campaigns in advance of the day itself.