As the coronavirus pandemic has accelerated the years-long remake of the US retail industry, American shoppers bought holiday gifts online and received Black Friday discounts. They once squeezed into the mall to snap up.
According to data from research companies that track foot traffic, the number of people visiting stores on Black Friday is about half of last year. At the same time, online spending increased by 22% from a year ago, making it the second best online shopping day measured by Adobe Analytics.
Black Friday hits US consumer spending record of $9B
It is unclear whether the early start of the holiday shopping season, the online surge on Black Friday and the expected record day of Cyber Monday are enough to offset the money lost by many chain stores due to in-person shopping.
Entering the critical season, despite the economic shocks and work stoppages related to Covid-19, US consumer spending remains strong. The National Retail Federation, a trade group, predicts that holiday sales will increase by at least 3.6% to approximately US$755 billion, of which online shopping will increase by at least 20% to approximately US$202.0 billion.
Click here to read more about FOX business
This year, online shoppers on Amazon.com Inc. or Best Buy Co. can get many of the same deals that were pending in the store, and these deals are only for those who queued up all night. Based on walking volume data, shoppers and retail analysts’ data, those adventurous people stopped less often and turned more and more to large chains such as Walmart and Target, selling everything from lettuce to Lego.
Click More at WSJ.com