Online Spending For Black Friday Hits New Record In Internet Age

rated by 0 users
This post has 3 Replies | 0 Followers

Top 10 Contributor
Posts 25,696
Points 1,157,095
Joined: Sep 2007
ForumsAdministrator
News Posted: Mon, Nov 26 2012 7:43 AM
Black Friday always leaves something of a black mark on Americans, and consumers in general. It's really a weird, tragic event to celebrate. We usually spend all of Thanksgiving recognizing all that we have to be thankful for, and perhaps not even 24 hours later, some consumers head to big box shops to trounce one another in an effort to get more, more, more. It's all a bit beyond us, truth to be told, but evidently the masses aren't hearing any of that logic. Instead, they're spending even more, and so long as that trend continues, you can bet that retailers aren't going to stop forcing employees to come in at 8PM on Thanksgiving to work the night away.

According to ComScore, online spending for the Black Friday holiday hit a record, notching some $1.04 billion. For the holiday season-to-date, $13.7 billion has been spent online, marking a 16-percent increase versus the corresponding days last year. Black Friday (November 23) saw $1.042 billion in online sales, making it the heaviest online spending day to date in 2012 and representing a 26-percent increase versus Black Friday 2011. Thanksgiving Day (November 22), while traditionally a lighter day for online holiday spending, achieved a strong 32-percent increase to $633 million. 57.3 million Americans visited online retail sites on Black Friday, representing an increase of 18 percent versus year ago. Amazon ranked as the most visited online retail site on Black Friday while also posting the highest year-over-year visitor growth rate among the top five retailers, with Walmart, Best Buy, Target, and Apple following suit in that order.


In other words, despite the fact that more people are dodging the crowds and shopping online, there are still even more people flocking to physical stores. Did you manage to snap up any great Black Friday deals? Or are you opting to wait for today to see what Cyber Monday brings?
  • | Post Points: 35
Top 200 Contributor
Posts 447
Points 5,270
Joined: Jul 2010
Location: Cincinnati
sackyhack replied on Mon, Nov 26 2012 10:09 AM

Completely skipped Black Friday. All I bought in sales was Knights of the Old Republic 2 on Steam for like $3. I'll be waiting on Cyber Monday deals. I'm in the market for either a decent yet cheap 30"ish TV or a 20-something" monitor.

  • | Post Points: 5
Top 100 Contributor
Posts 1,016
Points 10,925
Joined: Dec 2010
Location: Mcallen, Texas
OSunday replied on Mon, Nov 26 2012 9:39 PM

sackyhack, I made the same mistake and ended up paying more for the gifts and things I was in the market for, for my family. I think the shoppers morale of that is when something is on sale and at a good price, go ahead and get it instead of gambling on a better or lower deal because at least you have the guarantee of saving compared to what you would've spent on it otherwise compared to having to buy it at that "otherwise" price.

As we can see, plenty of Americans abided by the same motto with that absolutely massive increase in online sales, but I also feel like this year the number of online deals offered at all were much higher (and may ultimately result in the decline of cyber Monday.) If anything Online retailers taking advantage of black Friday are nullifying the temporary advantage in price and convenience in store retailers had gained for a while.

This year I saw cyber Monday to be a bit of a flop, and a re-discounting of the things that didn't sell (because not that many people wanted those products) during the black Fridaysales

  • | Post Points: 20
Top 150 Contributor
Posts 756
Points 7,645
Joined: Nov 2012
Location: Dallas, Tx
Dorkstar replied on Wed, Nov 28 2012 3:02 PM

I agree with you on the cyber monday products seeming like a black friday overstock sale.  

Now on to the aritcle:  Why did online sales go up?  People are tired of getting shot to pick up a $10 tickle me elmo!  Personally, I've never participated in either black friday or cyber monday, but I did follow them for the first time this year, just didn't see anything I had to have.  

  • | Post Points: 5
Page 1 of 1 (4 items) | RSS