While bricks and mortar retailers and malls may have decided to put their aggressive discounts on hold for the time being, seemingly content with their market share (losses), online retailers – and one in particular – continue to make staggering gains.
Preliminary reports for Black Friday and Thanksgiving sales point to a promising start to the holiday shopping season, and once again, it is a story of online spending rather than brick and mortar. According to Adobe Analytics, which measures transactions at the largest 100 online retailers, online sales were up by 17.9% yoy for the two-day period. Moreover, according to BofA, there continues to be a shift toward mobile devices, with Commerce marketing firm Criteo finding that 40% of Black Friday online purchases were on mobile phones, up from 29% last year.
This post was published at Zero Hedge on Nov 27, 2017.