Early Weekend Sales Reports from Black Friday 2017
We did it America. We survived another Black Friday weekend. There is still one more major shopping day to get through, but preliminary data is already rolling in for the early holiday sales.
Many stores released some of their Black Friday specials online several days before Thanksgiving and a full week before Cyber Monday. This gave shoppers a chance to catch the sales without fighting traffic in stores, and gave shipping companies and warehouses a head start on order fulfillment.
According to Adobe Digital Insights, Americans have spent $43.42 billion so far in the month of November just in online purchases. Every day this month has had online sales revenues of over $1 billion. There were slightly under $3 billion in web-based transactions on Thanksgiving Day, but that spiked to $5 billion on Black Friday. This was 16.9% higher than last year.
Despite the increase in online sales, retailers saw a minimal drop in foot traffic. A study from ShopperTrak showed less than a 1% difference between last year’s and this year’s brick and mortar foot traffic. The stats have remained consistent since 2015. Prior to that, there was a steady decline in store-based sales because stores were starting to open their doors late Thanksgiving night instead of just Black Friday. Thanksgiving sales increased while Black Friday sales decreased, but both have now reached a plateau.
Sales reached almost $2.5 billion on Small Business Saturday, when many shoppers choose to visit their local stores. 43% of Americans shopped at a small business on Small Business Saturday, according to research from American Express. Roughly half of those shoppers visited a business they had never been to before.
Adobe predicts online holiday shopping will exceed $100 billion this year. Cyber Monday is projected to bring in $6.6 billion, totaling nearly $20 billion for Thanksgiving weekend.