With the Thanksgiving shopping weekend in our rear view mirror, we now have a full picture of its success. What do we see? Powerful evidence of a changing retail holiday and continued shifts in consumer preference.
I’m too full from Thanksgiving, give me the exec summary:
The triptofan has faded and we now have a full picture of the commerce impact of the Holiday weekend. What do we see? Powerful evidence of a changing retail holiday, and shifting consumer preferences. U.S. consumers spent $7.4B digitally on Black Friday this year – almost a 20% increase over Black Friday 2018. Overall great news for the U.S. economy but more acutely an indication of channel-shifting and very good news for omnichannel retailers and brands.
Cyber Monday saw $9.2B in sales – a big jump from 2018, which brought in 7.9 billion. Making it the U.S.’s biggest single-day commerce event in history, and an approximated 16.9% year-over-year increase according to a report by Adobe. The growing online activity points to the shift away from physical stores, with retailers such as Target and Walmart training more of their staff to focus on online orders versus in-store purchases, while also using their stores to handle deliveries, according to WSJ. With a serious digital component to Black Friday, traditionally an in-store event, along with deals both on and offline extending all weekend, this November shopping holiday is starting to resemble a true 4-day omnichannel shopping event.
Click here to read about four key trends that will shape the season and future in the Geometry Trends Report.