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Macy's suffers credit card processing slowdown on Black Friday (M)
28 November 2017, 01:02 | Kenneth Drake
Mixed results for Black Friday footfall
Springboard says that consumers have grown wise to the fact that discounting continues after Black Friday.
And apparently those looking for online doorbusters started their shopping spree on Thanksgiving evening.
American shoppers spent a record $5 billion in 24 hours. Some $640 million was spent as of 10 a.m. Friday - that's an 18.4 percent increase from a year ago, according to Adobe Analytics.
Online sales are expected to surpass $6 billion Monday, compared with last year's $3.45 billion figure, Adobe said.
Cyber Monday is now expected to mark the biggest online shopping day in US history, according to Adobe Insights, which measures 80 percent of digital transactions from 100 major retailers. Adobe says online sales at the 100 largest U.S. Web retailers totaled approximately $7.9 billion on Black Friday and Thanksgiving, marking a almost 18 percent increase from 2016.
Brick-and-mortar retail sales data were not immediately available, but industry analysts noted signs of a decline in physical store sales this year, Reutersreported.
But Brian Field, senior director of advisory services for ShopperTrak, is optimistic.
Adobe Analytics said Cyber Monday is expected to drive $6.6 billion in internet sales, which would make it the largest US online shopping day in history.
We'll know more about how it all shakes out in the coming months and early 2018, when big-box retailers post their next round of earnings reports. "The big story this holiday season is in mobile shopping", CNBC reported, quoting Mickey Mericle, Vice president of Adobe's Marketing and Customer Insights division.
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AT&T-Time Warner in jeopardy as DOJ blocks deal
Asked about when the company would cut its losses and walk away from the deal, Stephenson said "quitting isn't in our vocabulary". In a press conference after the lawsuit filing, Stephenson remarked, "I'm surprised we're here and troubled by it".