Black Friday Was A Bust. What About Cyber Monday?
Store openings on Thanksgiving day took the bite out of Black Friday, with retailers tallying a 13.2 percent drop in sales compared to 2012. But total sales for the two days were actually up 2.3 percent to $12.3 billion. Over the course of the entire four-day weekend, sales are estimated to come in at $57.4 billion, down 2.9 percent versus last year. Cold temperatures and a storm seemed to keep shoppers home in the Northeast, which tallied the lowest sales. A total of 141 million people went shopping over the holiday weekend.
Experts say that the super early start to the holiday sales along with the option of shopping on turkey day sucked some of the excitement out of Black Friday. Also playing a big role is the continued budget crunch that many average Americans are feeling. The amount that each consumer said they would be spending this weekend was $407.02, down from $423.55.
This is a big deal for retailers who usually look to take in 20 to 40 percent of their annual sales during the holidays; 10 to 15 percent are from this Thanksgiving holiday alone, reports The New York Times.
A bright spot was mobile and online shopping, with an IBM survey of 800 retailers showing that sales on mobile devices were up 40 percent versus last year. Tablet sales made of 14 percent of the total sales on Black Friday, and online sales were up 19.7 percent on Thanksgiving and up 19 percent the following day, says CNN Money.
Which brings us to Cyber Monday. Hopes are high for online sales this year, so much so that retailers like Amazon and Walmart are declaring this Cyber Week. Some of the deals include 40 percent off at H&M and Banana Republic, a 16GB Kindle Fire HD tablet down to $119 from 169 on Amazon, and a Dyson Multifloor Vaccum down to $399 from $549 at Best Buy. Lots of news sites are offering a round up of Cyber Monday, but honestly, if you go to any site or receive daily emails from your favorite retailers, then you probably know what to buy where. Airlines and travel companies are also offering deals today. So if you’re thinking of taking a trip to recover from the holidays, today might be the day to get a deal.
Even with fewer people out and about there was mass craziness at retailers across the country. ICYMI, here’s a taste of what some people were doing while you were chilling out with family and friends. Happy holidays.