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Black Friday fails to lift gloom on high streets as footfall dives

28 November, 2017, 01:05 | Author: Paula Vaughn
  • Black Friday sales soar to record high

Smartphones sales break all record this year.

In the wake of Thanksgiving weekend, what marks the start of the holiday shopping season, retail stocks are rallying on upbeat sentiment around preliminary sales results.

Apparel retailer Gap, which has already been called out by multiple analysts over the weekend for the strength of its Old Navy and Banana Republic Black Friday deals, saw its stock climb almost 3 percent Monday morning.

"Last year, sales were pulled forward by the increased November activity, and as we move into December, we're expecting to see a repeat of last year's pattern with footfall slow to build, after Black Friday has taken the stuffing out of bargain-hunters, but we're predicting a resurgence of activity in the last week before Christmas". Amazon did not provide sales figures for the entire day. Salesforce says 42% of Black Friday orders were placed on a smartphone, and only 49% on a desktop or laptop computer.

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According to Ipsos Retail Performance, UK footfall on Black Friday was up 0.95 per cent year-on-year, with 42 per cent of retailers experiencing footfall growth.

A study from Rakuten Marketing found that there was a 21 percent year-over-year revenue growth in online retail sales this year in the three-day period from the Wednesday before Thanksgiving to Black Friday.

ShopperTrak senior executive Brian Field released a statement on the debate over the decline in in-store retail shopping. By 5 p.m. ET on Thanksgiving, shoppers had spent more than $1.52 billion, up 16.8 percent from a year ago, CNBC reported. "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.

Adobe Analytics said Cyber Monday is expected to drive $6.6 billion in internet sales, which would make it the largest USA online shopping day in history.



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