Energized shoppers break one-day holiday sales record [View all]
Source: CNN Business
Published 2:07 PM EST, Sat November 25, 2023
CNN Whether they jostled through brick-and-mortar stores or toggled between tabs and virtual carts, holiday shoppers were eager to participate in Black Friday this year.
Both in-store and online retail sales increased year-over-year unadjusted for inflation, according to Mastercards SpendingPulse insights, which noted that apparel, jewelry and restaurant categories saw considerable spikes. In-store sales jumped a little more than 1%, while e-commerce led the charge with an increase of 8.5%.
However, Sensormatic Solutions, which tracks shopper traffic at brick-and-mortar stores, found that visits on Black Friday were up 4.6% from 2022. This is a turnaround for retailers, the company said, as foot traffic has been down an average of 2.4% this year.
Though we anticipated an increase, in-store shopper traffic outperformed our expectations, Grant Gustafson, head of retail consulting and analytics at Sensormatic, said in a statement. Consumers are again finding joy in brick-and-mortar shopping, seeing it as an experience to be shared with loved ones. Its a testament to the hard work retailers have done to streamline journeys and deliver satisfying experiences. Adobe Analytics, which tracks US online shopping, reported a record $9.8 billion in Black Friday sales, up 7.5% from 2022, driven by surging demand for electronics such as televisions, smart watches and audio equipment.
Read more: https://www.cnn.com/2023/11/25/business/record-breaking-holiday-shopping/index.html