Online sales surge, but buyers browse at shops first
Online sales surge, but buyers browse at shops first
Macy's Having Problems With Credit-Card Transactions
29 November, 2017, 01:05
"Cyber Monday is also on track to become the biggest USA online shopping day ever, driven by mobile purchasing and the ease of payment services like Apple Pay", Business Insider reports.
With the jobless rate at a 17-year-low of 4.1 percent and consumer confidence stronger than a year ago, analysts project healthy sales increases for November and December. "However, the entire holiday season continues to see exponential growth with Cyber Monday expected to be the largest U.S. online shopping day in history", said Taylor Schreiner, Director of Adobe Digital Insights.
However, despite the rise in online shopping, it seems that the slowdown in physical store sales hasn't been as severe as expected.
What now follows this shopping tradition is Cyber Monday - another round of timely deals offered online.
American shoppers spent a record $5 billion online in 24 hours, an increase of 16.9 percent in dollars spent on the internet from Black Friday in 2016. Total sales this year exceeded the indicators of last year nearly 18%.
There have been some reports that foot traffic at brick and mortar stores was, in fact, higher this year than 2016.
Cyber Monday dates back to 2005 when it was first used as a promotion for Shop.org.
Online's shopping growth is already an established trend, but IMRG says it works particularly well for sales. If the sector can turn things around during the busy holiday shopping season, it could develop into one of 2018's most unexpected comeback plays... "I mean, sitting online is fine, but there's just something about starting the holiday season with Black Friday".
While brick-and-mortar sales may be down, the Mall of America in Minnesota reported that 2,500 people were in line before opening. Earlier on Friday, Macy's CEO Jeff Gennette told The Associated Press said he was pleased with the kickoff to the season. Indeed, some chains struggled to keep up, with brief online outages experienced by Lowe's, H&M and the Gap, among others, according to website performance monitors.
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