The best consumer spending analysis, based on actual consumer transactions rather than surveys or speculation, for Thanksgiving, Black Friday and Cyber Monday shows overall spending growth was up 9.0% year-over-year (YOY), compared to 9.4% in 2015 and 3.5% in 2014.
The First Data SpendTrend also showed the total share of eCommerce spending has gone up significantly YOY. It was 13.6% YOY (2013), 15.7% YOY (2014), 18.3% (2015), and 24.7% YOY (2016), meaning it has nearly doubled over a four-year period.
Electronics & appliances had a big couple of days with 27% growth YOY and was up $41 in average ticket size from 2015.
Retailers Shutter Doors for Thanksgiving Day
· Several malls and retail chains were closed on Thanksgiving morning and afternoon, most opening their doors until evening. Retail sales growth took a hit, but across the nation consumers jumped in at 6pm and sales recovered.
The Shopping Period Lengthens
· In terms of overall spend (not just retail) the Wednesday before Thanksgiving is becoming just as strong as Black Friday.
eCommerce has steadily grown as a percent of total sales. This holiday, eCommerce represented almost 25% of all spending. Cyber Monday produced a surge of online volume for the day, passing 40% share of all spend.
eCommerce within Retail has also seen aggressive growth. This holiday, eCommerce was 19% of total Retail volume, up from 14.5% last holiday. On Cyber Monday, online activity accounted for more than 34% of retail sales.
Online sales growth lead the holiday weekend, with a 5-day aggregated growth rate of 14.3%. Categories that drove these results were Sporting Goods, Electronics & Appliances, and General Merchandise.
Unfortunately, Clothing and Accessories didn’t perform as well, with only 2.0% growth. General Merchandise Stores also struggled, posting only 1.3% total growth on weak brick & mortar sales.
• Cyber Monday online sales were strong in the early- morning hours, but slowed during the workday. Consumers resumed purchasing activity through the evening after 6 p.m., sustaining a 13-20% increase over the same time period from a year ago.
• Retail eCommerce growth for the day was +12.0% YoY
• Brick & Mortar merchants struggled during Cyber Monday. The small gains they made during the morning started to slow down by 3p.m., and never recovered.
• Retail Brick & Mortar growth for the day was +3.0%.
First Data powers nearly half of all credit and debit card transactions in the United States – approximately 79 billion transactions per year, or 2,500 transactions per second, from millions of merchants. The First Data SpendTrend analysis of Thanksgiving and Black Friday uses in-store and e-Commerce data from more than 900,000 merchant locations.
Click here to read the full report. first-data-cyber-monday-report
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