Retail analysts are still crunching the numbers on consumer spending from the long weekend, which encompassed two of the year’s biggest shopping days, Black Friday and Cyber Monday. But based on the statistics that have rolled in, the picture looks decently rosy—if not gangbusters great—for U.S. retailers.
Adobe Analytics estimated this week that sales from Thanksgiving through Cyber Monday will exceed $29 billion, or 20% of total revenue for the full holiday season, up from 19% last year.
But perhaps more interesting than how much consumers are spending is how they’re shopping.
The consumer migration from brick-and-mortar stores to online shopping platforms has been ramping up for years—e-commerce sales officially bested brick-and-mortar sales for the first time in 2018, according to ShopperTrak data. Though the final numbers aren’t in, it appears that trend is only intensifying.
And mobile phones are the new holiday store windows, luring in shoppers and enticing them to spend.
Read more about what happened during the big shopping weekend on the JCK website HERE