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Black Friday In-store Visits Down but Sales Explode Due to Mobile
Black Friday In-store Visits Down but Sales Explode Due to Mobile

Black Friday In-store Visits Down but Sales Explode Due to Mobile

November 27, 2017 03:23pm | Updated: December 16, 2017 10:26am
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ou don’t have to look any farther than Black Friday to understand consumers have changed the way they buy in a very big way. The number of people visiting U.S. stores on Thanksgiving and Black Friday fell 4% from last year, according to RetailNext Inc., which counts shoppers by analyzing in-store videos. At the same time U.S. Black Friday, Thanksgiving online sales has climbed to a record high.

Mobile shopping was the big news of the day, with commerce marketing firm Criteo noting that 40 percent of Black Friday online purchases were made on smartphones this year a massive 38 percent increase over last year. This doesn’t include the countless in-store sales assists by smartphone visits to retailers to find store hours, check prices and search for the latest deals.

Adobe Insights, which measures 80 percent of online transactions at 100 major U.S. retailers, said mobile transactions are "hitting record highs." Adobe’s final numbers indicate that Black Friday surpassed estimates, with $3.34 billion – 21.6 percent growth, year-over-year. Cyber Monday, the Monday after Thanksgiving, is expected by Adobe to be the largest online shopping day in U.S. history.

Even Still, Investors Have Been Selling Big Retail Short
Wall Street has been increasingly betting against the retail sector on the assumption that “Big Retail” will not be agile enough to compete with nimbler digital outlets as U.S. consumers continue to skip the in-store experience in favor of shopping online.

In mid-November, 5.6 percent of all shares outstanding in the S&P 500 retail sector were on loan to short-sellers, over double the benchmark for the S&P 500 index of 2.7 percent.

Sharing Links on Social Media with Family and Friends are Driving Sales
"The big story this holiday season is in mobile shopping," Mickey Mericle, the vice president of Adobe's Marketing and Customer Insights division, said.

Shoppers looking for discounts have made themselves experts at using smartphones to find the best deal. This year, shoppers are shifting to the web on their phones in search of a more seamless, painless retail experience. Greater convenience with anytime access and the ease of sharing links on social media with family and friends are driving sales on smartphones.

Buyers journeys are no longer static, they are dynamic empowered by information available to them anytime and anyplace. If they don’t like what they find about you online, they will click right by to your competition.

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Your next new customer has changed the way they buy . . . Have you changed the way you sell?