According to National Retail Federation, between Thanksgiving (23rd November), Black Friday (the 24th) and Cyber Monday (the 27th), over 174 million American consumers took advantage of the discounts and promotions offered by Retailers. Therefore, we did not have to wait, albeit with a different, traditional western characterisation, for the US answer to Chinese Singles' Day.
During this long, five-day commercial holiday, per capita spending was $335, but for the most important target of Millennials the average figure was higher at $419.52.
About 58 million people made online purchases, while 51 million made purchases exclusively in stores. But the most interesting figure is that a relative majority of buyers, 65 million Americans, has made purchases both online and in store. According to Forbes estimates, around two-thirds of the total, 116 million, still visited a traditional store before making their choice, regardless of the subsequent purchasing method. The multi-channel buyer spent an average of $82 more than the exclusively online buyer, and averaged $49 more than sole "brick and mortar" buyers.
The record figure of online Black Friday sales was $5 billion in 24 hours, an increase of 16.9% compared to Black Friday 2016. These estimates are from Adobe Digital Insights, which has plotted 80% of spending on the 100 largest US websites. Globally, US Retailers recorded a record $7.9 billion in online sales on Black Friday and Thanksgiving, up 17.9% on the previous year.
Cyber Monday grew by 16.8% year-on-year: it was the biggest online shopping day in US history. Sales totalled $6.59 billion, over one billion more than Cyber Monday 2016. For the occasion, the smartphone conversion rate rose by 10.1%.
Interesting observations from two product sectors: in fashion, 48% of the entire online retail market in the United States saw discounts average at 45% off, compared to a 36% discount last year. And even in Luxury, brands are having to adapt to the reality of the market. Nearly a quarter of "designer" bags, for example, have gone on sale online at between 40 and 50 percent off so far, compared to 30-40 percent off last year.
Lastly, Macy's, one of traditional retail's major players, caused a stir due to its stroke of bad luck.