Thanksgiving Weekend Sales Strong

Holiday Online Shopping

Early estimates for the biggest shopping weekend of the year point to strong results overall. While foot traffic was mixed throughout the four-day weekend, online sales were strong heading to Cyber Monday. Retail analytics firm ShopperTrak reports visits to physical stores were down 1.7% on Black Friday, and 1% lower on Thanksgiving Day.  Meanwhile online sales were higher.

ShopperTrak notes the 1.7% dip in foot traffic is close to the 1.6% dip seen a year ago as more sales gravitate online. Still, the National Retail Federation (NRF) predicts 164 million people did shop over the weekend and the majority of them shopped in physical stores. Many also said they planned to shop online. Black Friday was the biggest shopping day, with roughly 116 million consumers making a purchase at retail.

Adobe Analytics reports Black Friday shoppers spent $6.22 billion online, a gain of 23.6% a year ago. Consumer shopping online Thanksgiving Day rose 28% year-over-year, and totaled more than $3.7 billion. Estimates for Cyber Monday are projected at $7.8 billion, up 18.3% from last year. Overall, the National Retail Federal projects holiday sales will increase between 4.3% and 4.8% year over year.    MORE

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