Successful Black Friday Sales
According to comScore data, this Black Friday, 2012, noted an overall increase in sales that topped $1 billion. This figure is up about 26% from last year’s figure of $816 million.
Many retailers began their Black Friday sales on Thanksgiving Day opening several stores, such as Wal-Mart and Ulta, the beauty giant, between 8 pm and midnight. Many other mass marketers opened early Friday morning. Luring shoppers with unbeatable bargains, Black Friday has been associated with great shopping deals.
Bricks-and-mortar retailers offered big Black Friday discounts much earlier this year and some companies opened stores late on Thanksgiving for the first time, hoping to grab more of the action on what is a crucial shopping day for the industry.
That sparked some speculation that online retailers may lose some sales, but comScore said that did not happen.
“With brick-and-mortar retail also reporting strong gains on Black Friday, it’s clear that the heavy promotional activity had a positive impact on both channels,” comScore Chairman Gian Fulgoni said.
Patrons at Best Buy, Target and Wal-Mart were lured in by deep discounts on flat screen televisions. Fifty to sixty percent off many items, or buy one get one free offers got customers into major department stores.
According to Reuters, Amazon.com was the most-visited retail website on Black Friday, and it also posted the highest year-over-year visitor growth rate among the top five retailers. Wal-Mart Stores Inc’s website was second, followed by sites run by Best Buy Co., Target Corp. and Apple Inc, comScore noted.
Known as the biggest shopping day of the year, Black Friday is sending 2012 right into the shopping frenzy. Determined bargain hunting shoppers are getting out earlier and earlier to save as much money as possible. With the economy in a less than thriving state, people need to stretch their dollars far. Taking advantage of super sales are worth the time and effort.
ComScore expects online retail spending to rise 17 percent to $43.4 billion through the whole holiday season, reports Reuters.
“Cyber Monday will be a big day, but not as much of a big day as it has been in the past,” said Mia Shernoff, executive vice president for Chase Paymentech, a payment processing unit of J.P. Morgan Chase & Co.. “Faster broadband Internet connections in the office used to drive this. But now many consumers have faster connections at home and smart phones and tablets – they don’t have to wait.”
Last year, Cyber Monday sales topped $1 billion, making it the heaviest day of online spending ever, according to comScore.