Published: Wed, November 29, 2017
Economy | By Melissa Porter

Cyber Monday again sets e-commerce record with $6.59B spent

Cyber Monday again sets e-commerce record with $6.59B spent

Here and there were signs of the pandemonium for which Black Friday was long known. According to Business Insider, Amazon snagged between 45% and 50% of all Black Friday online sales.

Black Friday 2017 was all about digital sales.

It was a different story in the United States, of course, where the grand Thanksgiving tradition of naked consumerism-meets-physical violence was still manifest in full force. A confrontation between two men in the parking lot of Willowbrook Mall in Houston left one shot and the other stabbed. Records were broken as they processed a 976 transactions per second between 12pm and 1pm compared to last year's peak of 791 transactions per second. Gotta grab yourself some gun action at bargain prices! As online-savvy businesses continue to gobble up more and more of the market share, companies like Macy's, JCPenney, Gap and Sears have suffered. Thanksgiving Day sales totaled $2.87 billion (18.3 percent growth year on year) while Black Friday hit $5.03 billion (up 16.9 percent from 2016).

Another year, another Cyber Monday online shopping frenzy has wrapped up.

Overall web traffic to retail sites increased by 11.9 percent when compared to the season average at 5.7 percent, with most sale visits coming from mobile devices, such as smartphones and tablets. Adobe reports that mobile devices drove 54.3% of visits and 36.9% of revenue on Black Friday itself.

"And retailers are figuring out how to optimize. for mobile", she added.

Just because the end is not here for brick-and-mortar stores does not mean traditional retailers have nothing to fear. All things being equal, that could be chalked up as a win.

Black Friday shoppers at Green Acres Mall in Valley Stream on November 24, 2017. That would still mean that only around 15% of all sales are digital if you take into account that the National Retail Federation (NRF) predicted $682 billion in total sales for the season.

In the U.S., early reports indicate a healthy 16% to 18% rise in online sales this Black Friday sales compared to 2016.

I bought nothing on Friday, online or offline, although I had picked up a couple of things earlier in the week when the Black Friday offers kicked in online. Shoppers in brick-and-mortar stores can also be easier to tempt with impulse or add-on purchases than online browsers. That fits in nicely with the "learning to love the stores again" meme we've heard time and again this year from retailers.

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