Plus   Neg

Black Friday And Saturday Saw Tremendous Growth In Online Activity: NRF

blackfriday dec02 lt

Online activity on the two days in the Thanksgiving weekend, Black Friday and Saturday, saw tremendous growth, according to the National Retail Federation's Annual Thanksgiving Weekend Consumer Survey, conducted by Prosper Insights & Analytics. Online-only shoppers increased 44 percent to 95.7 million for the entire weekend.

The number of online Black Friday shoppers passed the 100 million mark for the first time and was up 8 percent over last year. The number of online Saturday shoppers grew even more - 17 percent higher than last year.

However, this year saw a slight decline in the overall number of shoppers for the period from Thanksgiving through Cyber Monday to 186.4 million from last year's 189.6 million. The number was however higher than the 165.8 million in 2018 and 174.6 million in 2017.

Amidst the ongoing pandemic, retailers planned early for the holiday season and were ready with safety measures, trained associates, and well stocked inventory.

According to the survey of 6,615 adult consumers, more than half (52 percent) of holiday shoppers said they took advantage of early holiday sales and promotions this year. About 38 percent of them said they finished their holiday purchases in the week leading up to Thanksgiving. Retailers had begun enticing consumers with promotional deals as early as October.

More than half (53 percent) of holiday shoppers said they felt the promotions over the Thanksgiving weekend were the same as they were earlier in the season.

In-store shopping took a beating due to the ongoing pandemic and as many retailers decided to close on Thanksgiving Day. The number of in-store shoppers on Thanksgiving Day dropped 55 percent from last year and dropped 37 percent on Black Friday. This despite an earlier NRF survey showing that a large majority (70 percent) of holiday shoppers felt safe shopping in stores this holiday season given the precautions retailers have taken for COVID-19. The drop in in-store shopping is attributed to consumer traffic moving to online channels.

Shoppers spent an average $311.75 on holiday items in the five-day period from Thanksgiving Day to Cyber Monday, down from last year's average of $361.90 spent during the same period. 72 percent of the average spent amount, or $224.48, was spent directly on purchasing gifts.

The majority of holiday shoppers (55 percent) said recent developments around COVID-19 cases had no impact on their holiday spending plans this year. Meanwhile, 77 percent indicated that they were more eager to support small businesses this year.

Meanwhile, holiday shoppers have about half of their shopping left to do and 91 percent expect they will continue to see great deals throughout the rest of the season. NRF defines the holiday season as November 1 through December 31.

Looking ahead to the 2020 holiday season, NRF expects sales to increase between 3.6 percent and 5.2 percent over 2019 to $755.3 billion- $766.7 billion, including online and other non-store sales that are projected to increase between 20 percent and 30 percent.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT