Black Friday 2012
On the USA’s biggest day of shopping, Black Friday 2012 saw online spending surpass the $1billion mark as sales increased by 26% from the corresponding day last year. Forecasters accurately predicted that new Black Friday records would be set and with a sum of $1.042billion (£624million) generated in a single day, the Christmas shopping season was truly underway.
Online vs Traditional Shopping
Black Friday’s spending results can be used as another convincing example of how consumer habits have drastically altered over recent years.With traditional retailers generating a lower Black Friday turnover (down 1.8%) compared to the previous year, it can also be argued that many consumers are taking to the internet in order to source the best deals and simultaneously avoid the swelling crowds in shopping centres. Amazon – a partner of Seller Dynamics– was the most visited retail website on Black Friday and posted its highest year-over-year visitor growth.
“E-commerce accounts for less than 10pc of consumer spending in the United States. However, it is growing much faster than bricks-and-mortar retail as shoppers are lured by low prices, convenience, faster shipping and wide selection.” – The Telegraph
E-commerce on your mobile
The increasing popularity and availability of smartphones and tablet devices has also been credited with the continuing boom in e-commerce over the last year with many online retailers providing apps to simplify online shopping whilst on the move. When compared with the previous year, eBay posted a Black Friday mobile transaction increase of 153% with PayPal posting a greater increase of 193%. The use of mobile devices has also affected prices of goods sold in shops with customers physically entering stores and carrying out a price comparison before requesting that the retailer match the best online price.
From Black Friday to Cyber Monday
While Black Friday is renowned for both traditional and online shopping, Cyber Monday has emerged solely as a result of e-commerce with early figures suggesting that a new Cyber Monday record has been set with online sales of up to $1.5billion (£900million), up by 27% on Cyber Monday 2011.