Mobile phones dominate malls in US Thanksgiving holiday spending

Mobile phones dominate malls in US Thanksgiving holiday spending

Mobile phones dominate malls in US Thanksgiving holiday spending

174 million United States consumers showed up to shop over the five days from Thanksgiving to Cyber Monday, 10 million more than was anticipated. Meantime, more than 58 million people only shopped online, and over 51 million individuals just stuck to stores, NRF said. Multichannel shoppers spent about $49 more than those shopping only in-store, and $82 more than those shopping online.

From Thanksgiving Day through Cyber Monday, the average shopper spent $335.47, with $250.78, or 75 percent, going toward "gifts".

The Retail Federation noted that this year's shopping season includes four full weekends and one more shopping day than last year's, because Christmas falls on a Monday. At least not as far as online sales are concerned, with a whopping $6.59 billion spent in USA e-stores on Cyber Monday, compared to "just" $5.03 billion the day after Thanksgiving.

According to Tech Crunch, Cyber Monday sales raked in 840 million dollars online so far. That brightened the overall outlook for traditional retailers that have expanded beyond brick-and-mortar outlets into e-commerce.

Adobe Digital Insights said a record $5.6 billion was spent online on Black Friday.

The kickoff to the holiday shopping season is a now a five-day affair of discounts and perks - and nicknames, stretching through Black Friday into Small Business Saturday and finishing on Cyber Monday.

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"All the fundamentals were in place for consumers to take advantage of incredible deals and promotions retailers had to offer", NRF President and CEO Matthew Shay said in a press release. The survey found that more than 64 million shopped both online or in stores. Two out of three retailers made adjustments to their promotional strategy for Black Friday and Cyber Monday, and where we observed retailers changing their promotions, more than half of the deals were of better quality than those offered in 2016.

"Black Friday itself is not dead yet, but it is not what it used to be", said Craig Johnson, president of Customer Growth Partners, a retail research and consulting firm. "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".

Older millennials - a group pegged at age 25 to 34 - was especially profligate over the weekend. The last drop was in 2008, at the onset of the Great Recession, when retail sales tumbled 4.6 percent.

Top shopping destinations included department stores (43 percent), online retailers (42 percent), electronic stores (32 percent), clothing and accessories stores (31 percent) and discount stores (also 31 percent).

Neil Stern, a senior partner at Chicago-based McMillan-Doolittle, experienced it firsthand as national retailers such as Wal-Mart Stores Inc., Amazon.com and Target Corp. competed for sales by offering discounts and promotions.

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