12/5/2016

Black Friday: The New Cyber Monday?

WASHINGTON, DC–-As everyone knows, the Monday after Thanksgiving is the traditional Cyber Monday.But, early figures out after this year’s Turkey Day may track a not-really-surprising shift.

As Erika Morphy reports on GlobeSt.com:“Never before has the divide between online retail and brick-and-mortar retail sales been as stark as it has this holiday season.” She cites an Adobe report that $5.27 billion went to online purchases this Black Friday, “a 17.7% increase year-over-year.”

But in the true fashion of rising tides and what they do to all boats, that jump in cyber-sales was indicative of an overall good weekend, and Morphy says registers rang up a total of $3.34 billion on Black Friday, for a 21.6% growth YoY. She also noted another milestone, namely that “Black Friday became the first day in retail history to drive over one billion dollars in mobile revenue at $1.2 billion, a 33% growth YoY.”

She quoted Tamara Gaffney, principal analyst and director of Adobe Digital Insights, who in a prepared statement, said that, “Black Friday may have just dethroned Cyber Monday’s position as the largest online shopping day of the year.”

Of course, smart retailers are already recognizing the power of the web and a growing number are now embracing ’net sales as a way to hike gross profits. “They also have internalized the need for the retail center to be a destination, an experience for shoppers,” writes Morphy, “not just a building that houses a variety of disparate stores, and routinely roll out tools and apps that position a mall” as a destination. She cites Simon, GGP and Macerich as examples of retail real estate firms that are not letting traditional retail methodologies lock them into the past.

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