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30 November 2017, 01:51 | Clyde Nash
And while the shopping is expected to be fast and furious experts warn customers to make sure their information stays safe
The figures suggest that Cyber Monday could have generated £7m more in total sales than Black Friday.
To say that Apple enjoyed a profitable few days during the recent holiday shopping weekend would be a gross understatement.
"It all speaks to this continuing evolution of the industry", NRF Chief Executive Officer Matthew Shay said on a conference call Tuesday. "The fundamentals of our economy are strong and consumer sentiment is high".
Low expectations also seem to be aiding retail stocks as the sector has fallen so sharply this year that a modest recovery can take place on just a whiff of good news.
From Thanksgiving Day through Cyber Monday, more than 174 million Americans shopped in stores and online during the holiday weekend, beating the 164 million estimated shoppers from an earlier survey by the National Retail Federation and Prosper Insights and Analytics.
Online spending totaled $5 billion, up significantly from $3.34 billion a year ago.
The results validate the investment that retailers are making in e-commerce and that pure-play online retailers are making by opening stores, Shay said. Fiscal Cliffs, government shutdowns, controversial elections, and other events that have impacted consumer confidence in the past, were not present this year, according to Shay.
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Sometimes the best-selling product on Thanksgiving weekend isn't even on sale. The survey found that more than 64 million shopped both online or in stores. The multichannel shopper spent $82 more on average than the online-only shopper, and $49 more on average than the in-store shopper. As wholly owned subsidiaries of Harland Clarke Holdings, RetailMeNot and Valassis, a leader in intelligent media delivery, are partnering to connect retailers and consumers through meaningful digital, mobile and print promotions both online and in store.
Having a user-friendly and updated mobile presence is important for all shoppers and retailers. In addition, 63 percent of smartphone owners used their mobile devices to make holiday decisions, and 29 percent used their phones to make actual purchases. This worry will likely drive more shoppers to pick up gifts in stores during the final days of the season.
The NRF reported spending per person over the five-day period was $335.47, with $250.78 - 75% - specifically going toward gifts. Millennial shoppers spent $419.52.
As for destinations, 43% of consumers shopped department stores, 42% shopped online retailers, 32% shopped electronic stores, 31% shopped clothing and accessories stores, and 31% shopped discount stores.
NRF reports that over Thanksgiving weekend, the signals were positive for small and local businesses. For some retailers, those numbers were even higher: Shopify, an e-commerce software provider for small- and medium-sized businesses, says that mobile transactions accounted for 60 percent of all sales yesterday, up 11 percent from a year ago.
Black Friday weekend no longer brings a stampede of crazed shoppers to America's malls.
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