An estimated 174 million Americans shopped over the five-day span between Thanksgiving Day and Cyber Monday, according to a survey released by the National Retail Federation and Proper Insights and Analytics. More tellingly, over 64 million people bought online and in person, underscoring the fact that retailers need to do both well to be successful today - especially because those consumers spent more money than those who only shopped online or in-store. They spent about 25 percent more than the average shopper.
From Thanksgiving Day through Cyber Monday, the average shopper spent $335.47, with $250.78, or 75 percent, going toward "gifts".
Last year, NRF's Thanksgiving weekend survey didn't include Cyber Monday sales, making the two non-comparable. As of last night, Cyber Monday was on track to hit $6.57 billion in sales, up almost 17 percent from 2016, making it the biggest one yet. Even with deep discounts, brick-and-mortar stores failed to boost customer traffic on Black Friday. For the rest of the holiday season, Adobe projects that 13 days will exceed $2 billion in online sales for a total of 18 days, or double last year's.
"All the fundamentals were in place for consumers to take advantage of incredible deals and promotions retailers had to offer", said Matthew Shay, NRF president and CEO. "At the end of the day, a sale is a sale is a sale, whether it happens in-store or online", he said. But the firm added the decline in traffic was less than 1 percent on Black Friday, evidence that stores still remain an integral part of the busy shopping period.More news: "Pocahontas" Not a Racial Slur, Says Prominent White Expert
The NRF estimated that 81 million USA consumers shopped online on Cyber Monday, well ahead of the 66 million that did so on Black Friday.
Adobe said Cyber Monday is expected to beat $6.6 billion in internet sales, which would make it the most vital USA online shopping day in history yet.
Preliminary data tracking shoppers' visits to physical stores on Thanksgiving Day and Black Friday shows a year-over-year decline of 1.6 percent, according to retail research firm ShopperTrak. But it still serves as a barometer of retail health as the industry enters the critical holiday season. But surprise, surprise, we're not talking about Black Friday 2017. "People increasingly know where to find the best deals and what they want to purchase, which results in less price matching behavior typically done on desktops". Other popular destinations were electronic stores (32 percent) and discount stores (31 percent), according to NRF's survey of roughly 3,200 consumers.
Firearms merchants dangled Cyber Monday deals on guns and accessories, with discounts on ammunition from Cabela's, scopes from Dick's Sporting Goods and, from Bass Pro Shops, an Armalite M-15 Defensive Sporting Semi-Auto Rifle for $649.97, marked down from $799.99.