Major Surge in Online Sales for Black Friday, Cyber Monday

This year’s Black Friday was a marked contrast to those of previous years, due to the rise in COVID-19 cases and guidelines from the Centers for Disease Control and Prevention to avoid crowds. Brick-and-mortar stores were the losers, with Morgan Stanley analysts estimating a 20 percent drop in sales compared to last year. Instead, according to Adobe Analytics, shoppers spent $9 billion online on Friday, capturing a 21.6 percent increase from the previous year, and the second biggest number ever for online sellers. Meanwhile, consumers shelled out $10.8 billion on Cyber Monday for a new single-day sales record. Continue reading Major Surge in Online Sales for Black Friday, Cyber Monday

This Holiday Season to Feature Virtual Shopping Experiences

The ongoing coronavirus pandemic has changed the holiday season in ways big and small. Macy’s Thanksgiving Day Parade is still on, but without spectators, just a sign of the times for the merchant evolving to a primary digital presence. Last month, two Macy’s stores, in Delaware and Colorado, became fulfillment centers rather than places to shop. Other retailers, among them Ralph Lauren, Gap and Clarins Group, are opening virtual stores that create a consumer experience; some are slated to stay online for months after Christmas. Continue reading This Holiday Season to Feature Virtual Shopping Experiences

Alibaba, JD.com Set Record Earnings for China’s Singles Day

On China’s Singles Day, Alibaba Group reported it earned a record $75.1 billion this year, in part by extending the buying window to eleven days. This year, however, Alibaba, founded by Jack Ma, is under increasing pressure from regulators who suspended the dual IPOs of Alibaba’s Ant Group. Since then, according to Refinitiv data, the company’s shares on the New York market have dropped 16 percent, erasing $137 billion from its market value. Alibaba and JD.com said the U.S. was the top seller of goods to China. Continue reading Alibaba, JD.com Set Record Earnings for China’s Singles Day

Black Friday Experiences New E-Commerce Sales Records

Online sales boomed this Thanksgiving holiday weekend, with record-breaking $4.2 billion in purchases on Turkey Day, followed by $7.4 billion spent on Black Friday. Although this was a new high — up $1.2 billion from last year’s Black Friday — it didn’t meet Adobe Analytics’ prediction of $7.5 billion. Salesforce reported $7.2 billion in sales, even lower than Adobe’s numbers. Of those numbers, $2.9 billion in sales were conducted on smartphones that day. Top-selling electronics included Apple laptops, AirPods and Samsung TVs. Continue reading Black Friday Experiences New E-Commerce Sales Records

Amazon to Expand Whole Foods Stores, Prime Now Delivery

Amazon plans to build more Whole Foods stores across the United States, indicate sources, with the goal of adding more customers within reach of the company’s two-hour delivery service. The move is a transformation for the grocery store, which had slowed its growth in the years before Amazon’s 2017 purchase for about $13.5 billion. Although Amazon wouldn’t comment on expansion plans, sources say that Whole Foods staffers are searching for potential retail space in Idaho, Utah and Wyoming, which currently don’t have Whole Foods stores. Continue reading Amazon to Expand Whole Foods Stores, Prime Now Delivery

Amazon Lowers Echo Prices to Gain Foothold in Smart Home

It’s a great time to buy a smart speaker, due to Amazon lowering prices of its six Echo devices on Black Friday. Over the Thanksgiving Day weekend, the entry-level Dot — whose price plummeted from $50 to $30 — became the No. 1 seller on Amazon’s website. Amazon, Apple and Google share the same strategy for smart speakers and their virtual assistants: as an entry point to the connected home. But because home speakers’ functionality is limited, consumers don’t see them as necessary and aren’t willing to pay a high price. Continue reading Amazon Lowers Echo Prices to Gain Foothold in Smart Home

FOX to Air Six-Second Ads During Thanksgiving Day Football

On Thanksgiving Day, sports fans watching football on FOX Sports will be treated to six-second commercials, which will take over the screen between plays, leaving the game in a small box on the side. Fox Networks Group first tested the six-second spot in August and, more recently, has aired them during the Major League Baseball World Series. The National Football League is embracing the six-second ad model as a way to cut down on time spent on commercials as well as make them less disruptive. Continue reading FOX to Air Six-Second Ads During Thanksgiving Day Football

It’s Official: Cyber Monday Bigger Than Black Friday This Year

As projected, this week’s Cyber Monday shopping event set a new single-day online sales record, according to Adobe. Following Black Friday’s record of $3.34 billion in online sales, as well as a new record of $1.2 billion in purchases made via mobile devices, Cyber Monday reached a staggering $3.45 billion in sales in the U.S., up 12.1 percent compared to the same day in 2015. Thanksgiving weekend is generally considered the start of the holiday shopping season and an indicator of economic health and consumer confidence. From November 24-28, consumers spent $12.81 billion, a 16.4 percent jump over last year. Continue reading It’s Official: Cyber Monday Bigger Than Black Friday This Year

Black Friday Sets New Records, More Consumers Go Mobile

According to separate research from Adobe and the National Retail Federation, Black Friday set new records for e-commerce with online sales surpassing $3 billion for the first time, while also marking the first day in U.S. retail history to experience more than $1 billion in sales made from mobile devices. Adobe reports $3.34 billion in total online sales, a 21.6 percent jump over last year, with mobile accounting for $1.2 billion, a 33 percent increase. And shoppers were thrifty this time around. While the NRF found that the number of shoppers increased over the weekend compared to 2015, average consumer spending dropped 3.5 percent, including online and offline purchases. Continue reading Black Friday Sets New Records, More Consumers Go Mobile