Although in-person visits increased 2.9% from last year, analysts told Retail Dive that the long queues of yore had vanished, while Business Insider shared photos of mostly empty Walmart stores.
Ecommerce, however…
… was big. Customers spent a record $9.1B+ online, per CNBC, citing estimates from Adobe Analytics.
Some other fun stats:
- Electronics, toys, and fitness equipment sales were all up 200%+ compared to an average October day
- 48% of online sales were done by phone, up 4% from 2021
- BNPL payments were up 78% from the previous week
- Adobe expects $11.2B in sales on Cyber Monday, a 5.1% YoY increase
Meanwhile, Shopify announced its best Black Friday ever, with global sales of $3.3B+, up 17% YoY.
Among large retailers, Walmart was the top dog online, per data from Captify, which tracks web searches.
Amazon, which led last year, dropped to fourth behind Target and Kohl’s.
Why the increase?
Inflation, for one. Shoppers may have dropped more on less this year.
But the strength of online sales likely relied on convenience and a shift in consumer habits:
- Consumers now favor online shopping, especially millennials and Gen Xers
- Salesforce reported BOPIS (buy-online-pickup-in-store) sales, popular during the pandemic, were up 20% compared to other days
- Shoppers still want deals, but also flexible payment options, like BNPL, amid economic uncertainty
Fun fact: Black Friday is the busiest day of the year for plumbers. Why? Clogged sinks and garbage disposals due to Thanksgiving cooking.
And what about Cyber Monday?
Cyber Monday deals at major retailers
And CNN has a list of the 510 best Cyber Monday 2022 deals. Here are just a few of those bargains:
• Amazon: The mega-retailer is of course participating in this deals extravaganza, with markdowns on every category imaginable starting now.
• Bed Bath & Beyond: Save on Cyber Monday deals, with up to 25% off your purchase come Cyber Monday.
• Best Buy: The electronics and appliance retailer kicked off holiday shopping well before November with new deals arriving every week in the lead-up to Cyber Monday.
• Buy Buy Baby: Get up to 40% off all things baby, from strollers to toys to diapers and more.
• Chewy: Shop deep discounts on everything you need for your furry family members.
• Etsy: Etsy’s Cyber Week Sales Event is back, meaning shoppers can find one-of-a-kind gifts at discounted prices, all while supporting small businesses. Get discounts up to 60% off on a wide array of unique products.
• Lowe’s: Save on all things home DIY and more during this monthlong event at Lowe’s.
• Macy’s: Shop ahead of the rush at Macy’s and save on home decor, clothes and gifts for the whole family.
• Michaels: Shop a wide array of arts and crafts deals, including up to 70% off Christmas decor and BOGO 50% off all Crayola.
• Nordstrom: Holiday deals are here, with new markdowns on top brands for men, women and kids — plus luxe home goods — now through Nov. 29.
• Target: Cyber Monday is a month-long event Target, where a slew of deals are launched weekly and a new Deal of the Day is chosen daily.
• The Home Depot: Shop discounted tools, appliances and more at The Home Depot right now.
• Walmart: Walmart’s Cyber Monday Deals for Days event brings discounts across every category, from home to tech to toys to vacuums.
• Wayfair: Wayfair just kicked off its Cyber Monday sale so you can save on furniture, holiday decor and much, much more.
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