Black Friday sets online, mobile shopping records

https://www.mobilepaymentstoday.com/articles/black-friday-sets-online-mobile-shopping-records/
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The 2019 holiday season continued the shift to shopping on the web as Black Friday numbers surged to a record $7.4 billion in online sales, according to a report from Adobe Analytics.

Black Friday 2019 was the biggest ever day for mobile shopping with $2.9 billion in smartphone transactions, with 61% of all online retail coming from smartphone transactions, representing a 15.8% increase from a year ago, and 39% of all ecommerce sales coming from smartphones, a 21% increase from year-ago figures. 

Online shoppers are continuing to shift more expensive ticket orders to online channels, with average order values on Black Friday up 5.9% to $168, compared with a year ago, according to Adobe. 

Analysts at Adobe tell Mobile Payments Today that while a certain amount of in-store retail is shifting to mobile, there are a large number of mobile customers who still make remote purchases, but complete their transactions inside the physical store. 

“Smartphones will account for 47% of overall U.S. retail growth and to that end there is likely some displacement occurring there on the part of mobile sales,” Vivek Pandya, lead analyst at Adobe Digital Insights, told Mobile Payments Today via email. “However when we look at the strong growth of BOPIS (Buy Online, Pickup in Store) we’re finding that consumers like to pick up additional products in store, in addition to fulfilling their BOPIS order.”

Top selling toys included Frozen 2 Toys, L.O.L. Surprise and Paw Patrol, while top selling electronics included Apple laptops, Airpods and Samsung televisions. Top selling game titles included Fifa 20, Madden 20 and Nintendo Switch, the report said. 

Preliminary data as of 9 a.m. from Small Business Saturday showed that online sales rose 18% to $470 million. Adobe said that Small Business Saturday was on track to surpass $3 billion in online sales. Meanwhile Cyber Monday was expected to reach $9.4 billion in online sales, an 18% increase from a year ago. 

Data from Verizon’s 2019 Holiday Retail Index showed that ecommerce traffic was up 14% on Black Friday and 19% on Saturday compared with the previous 27 days in November. Verizon measured traffic at the top 25 U.S. online retailers across its broadband networks. Verizon officials cautioned however that early sales during the month of November may have resulted in lower demand on Black Friday. 

“Retailers are still looking to continue excitement to close the weekend and with Cyber Monday promos,” Michele Dupre, Verizon’s leader for retail, hospitality and distribution. 

Fiserv reported a 4.2% increase in physical store traffic on Black Friday, according to the 2019 Black Friday SpendTrend Holiday Snapshot from First Data, which is now part of Fiserv. 

The report showed a massive 82% surge in mobile wallet spending however. The report also showed 57% of all card-based spending was via credit card, while 43% was via debit card.

Cover image: iStock

https://www.mobilepaymentstoday.com/articles/black-friday-sets-online-mobile-shopping-records/