Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

U.S. Black Friday shoppers tapered online splurge, as some returned to stores

11/27/2021 | 03:14pm EST
Black Friday shopping in New York City

RALEIGH, North Carolina (Reuters) - U.S. shoppers spent slightly less online during Black Friday this year, with many venturing back to physical stores despite coronavirus fears, tight supplies, and retailers' efforts to encourage earlier holiday purchases.

For the first time ever, spending online during Black Friday - traditionally one of the biggest shopping days of the year - fell, reversing the growth of recent years, according to data from Adobe Analytics, a wing of Adobe's business that specializes in data insights and tracks transactions at 80 of the top 100 U.S. retailers.

Retailers lured shoppers to make holiday purchases online as early as September this year, because the supply-chain logjam has prevented them from quickly replenishing year-end merchandise. Shoppers' total outlay online during Black Friday was roughly $8.9 billion, less than the $9 billion in 2020, Adobe said. Spending online during Thanksgiving Day was flat at $5.1 billion, Adobe said.

Many retailers closed physical stores on Thanksgiving this year, as they did in 2020, amid a labor shortage and the coronavirus pandemic. Stores reopened the day after Thanksgiving, and shopper visits increased by 47.5% compared to 2020, but fell by 28.3% when compared to 2019, the last pre-pandemic year, according to data from Sensormatic Solutions.

Supply-chain challenges and shipping delays may have prompted shoppers to visit stores in order to increase the chances of securing gifts in time for Christmas. More are making purchases online that they can pick up in-store, which keeps shipping costs down.

Macy's, Walmart, Target and Kohl's, for example, gave shoppers the flexibility to shop online, in stores or through hybrid methods, walked away as winners on Black Friday, said Louis Navellier, chairman of investor Navellier & Associates.

Of those purchasing online, slightly more used their smartphones. Canadian e-commerce company Shopify said the number of shoppers on its platform who used smartphones to make purchases increased this year to 72% from 67% last year.

Retailers' moves to encourage buying holiday gifts earlier could also lessen the importance of Cyber Monday, the first Monday after Thanksgiving.

(Reporting by Arriana McLymore and Richa Naidu, Aakriti Bhalla and Sabahatjahan Contractor in Bengaluru; Editing by Nick Zieminski)

By Arriana McLymore and Richa Naidu

© Reuters 2021
Latest news "Economy & Forex"
10:53aU.S. Embassy in Ukraine urges American citizens to consider departing now
10:50aCFPB HEAD : banks' overdraft fee changes show progress, but 'it is not enough'
10:45aSan Jose votes to be first US city to require gun liability insurance
10:44aItaly's doValue aims for 6% loan recovery rate by 2024
10:44aRepsol says it rules out new offshore oil spill in peru…
10:44aRepsol says it rules out new offshore oil spill in Peru
10:42aU.S. auto sales to slip in January on slim inventory, higher prices
10:42aTech recovery drives TSX gains; central bank keeps rates steady
10:41aWall St roars back ahead of Fed policy decision; Microsoft shines
10:39aTech recovery drives TSX gains; c.bank keeps rates steady
Latest news "Economy & Forex"