Early indications suggest 2016's holiday sales will outpace initial projections by a wide margin. Sales got off to a red hot pace over the extended Black Friday shopping weekend, with more purchases moving to online channels.
One of the first sales reports comes from Adobe, which tracked $5.2 billion in spending over Thanksgiving and Black Friday, a 17.7% increase over last year. At the same time time, brick-and-mortar sales were down from last year.
Black Friday sales alone smashed the old record, logging $3.34 billion, beating last year's mark by 21.6%. Adobe reports Lego Creator Sets, electric scooters from Razor, Nerf Guns, DJI Phantom Drones, and Barbie Dreamhouses made up the five biggest sellers in the toy department on Black Friday. Apple iPads, Samsung 4k TVs, Apple MacBooks Air, LG TVs, and Microsoft Xboxes were the top sellers in the electronics department.
More mobile purchases
Adobe reported mobile platforms drove the majority of visits to retail websites on Black Friday and accounted for 35% of sales. It found large retailers experienced twice the growth in online sales as small retailers since the start of the holiday shopping season.
Rakuten Marketing reported similar findings. It said its data shows mobile sites got 56% of the traffic on Thanksgiving and Black Friday. Black Friday's online spending beat last year by 41%.
“Shoppers hit the buy button at unprecedented levels as conversion rates were up nearly a full percent across all devices in the evening hours on Black Friday,” said Tamara Gaffney, principal analyst and director, Adobe Digital Insights. “With the full day total coming in at $3.34 billion, Black Friday may have just dethroned Cyber Monday's position as the largest online shopping day of the year.”
How big will Cyber Monday be?
Of course, that remains to be seen. Holiday shopping site BestBlackFriday.com reported that many ecommerce sites started their Cyber Monday specials on Sunday evening, suggesting the sales total could surpass projections. It notes that Apple, Dell, Best Buy, and Target are offering free shipping with no minimum order size, which could spur sales.
Among the hottest Cyber Monday promotions, it has identified Target's 15% off nearly everything in-store and online during the day, as worthy of consumers' attention. It also calls attention to Walmart's over 50% discount on Samsung HDTVs.
Assuming Cyber Monday smashes estimates, the nation's retailers could be on pace for a record holiday sales period.