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Online Black Friday sales top $1.52 billion, less frenzy at United States stores

29 November 2017, 01:05 | Frank Carlson

Gunnar Rathbun AP

Gunnar Rathbun  AP

"There had been much conjecture this year about whether Black Friday would be a hit or miss with United Kingdom shoppers, and many retailers followed the lead of their USA counterparts, extending their promotional campaigns over two weeks or more, which did risk diluting the impact of the event", he said.

I have recommended both Mastercard (MA) and Visa (V) at various times over the past year and, as the charts below show, that has worked out pretty well so far.

E-commerce giant Amazon gained 0.8 percent as data from Adobe Analytics showed online Black Friday sales rose almost 17 percent from previous year.

Such optimism helped push the fortune of Jeff Bezos, founder of Amazon.com, to $100.3 billion as the online retailer's shares jumped more than 2 percent last Friday.

"In the run-up to the holiday weekend, traditional retailers invested heavily in improving their websites and bulking up delivery options, preempting a decline in visits to brick-and-mortar stores", Reuters reported. They've also made a big push toward offering store pickup for online orders, hoping to get people to pick up more items.

US consumers kicked off the holiday shopping season with an online frenzy, breaking spending records over Thanksgiving and on Cyber Monday. As of 10 a.m., sales had reached $840 million, a 17% increase from past year.

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About 69 percent of Americans, or 164 million people, intend to shop at some point during the five-day period from Thanksgiving to Cyber Monday, according to a survey released by the NRF.

As consumer Group Which? pointed out last week many of last year's so-called Black Friday deals were cheaper or available at the same price at other times of year. She says she started holiday shopping on Black Friday, but she likes to go to the mall to shop. There's going to be a lot of online shopping. "Now I can buy things in Wal-Mart-they are cheaper and last longer".

Online purchases continue to steal a bigger slice of the holiday shopping pie. That nearly certainly front-loaded some brick-and-mortar sales that may otherwise have occurred over the Thanksgiving weekend.

Macy's overhauled its rewards program, aiming to keep consumers loyal regardless of whether they're online or off.

"I don't find anything good anymore at Sears", said Charles, a nurse with four children.



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