Statistics from Adobe show that consumers spent a record $7.4 billion shopping from their homes, with $2.9 billion of those sales coming from mobile devices.
With sales extended over the entire weekend, all the way through Cyber Monday, it’s shaping up to be a profitable weekend for many corporations, although Thanksgiving weekend fell slightly short of predictions.
“With Christmas now rapidly approaching, consumers increasingly jumped on their phones rather than standing in line,” said Taylor Schreiner, Principal Analyst & Head of Adobe Digital Insights, in a statement. “Even when shoppers went to stores, they were now buying nearly 41% more online before going to the store to pick up. As such, mobile represents a growing opportunity for smaller businesses to extend the support they see from consumers buying locally in-store on Small Business Saturday to the rest of the holiday season. Small Business Saturday will accelerate sales for those retailers who can offer unique products or services that the retail giants can’t provide.”
Consumers are shopping online more often, and sales are starting earlier and earlier, giving people more time to shop over the holidays. Eventually, this trend may mean that Black Friday won’t be the biggest spending day of the year – although the entire season will remain profitable.
Figures are still coming in from Cyber Monday sales, but it’s estimated to be the biggest yet, with retailers expecting over $9 billion in sales.
Gen Z is now a large blip on the consumers’ market, and they don’t have the same connotations with Black Friday as Boomers, Gen X, and Millenials. With violence down across the country, individuals feel more confident shopping on sales weekends.
“Online shopping and deals that span well beyond Thanksgiving weekend have calmed the commotion of Black Friday, presenting younger consumers with a more dignified shopping event,” the market research firm NPD said in a release on Wednesday to the NYT.
Social media and Salesforce trends show that most people shopping got big items like electronics, especially phones, and videogame systems, furniture, televisions, and toys/gifts.