Wednesday, December 7, 2016

Online Shopping Adds Muscle to Holiday Sales

Maria Jose Sorto
Online Shopping Adds Muscle to Holiday Sales
Nov. 29, 2016 3:32 p.m. ET

Holiday season has officially started and this can only mean one thing: Holiday shopping and gifts. With the increased use of mobile phones and Internet, companies have seen a dramatic boost in online shopping. This year, e-commerce accounted for 25% of consumer spending just during Black Friday and the two days before. According to First Data Corp., Last year e-commerce accounted for 18% which was almost double of the figures back in 2011.  Even though consumers buy online all year long, online shopping has become increasingly popular during the holiday season, which starts around Thanksgiving. During the Black Friday weekend, total retail spending increased only 9% from a year earlier. However, many brick and mortar stores now decide to not open during holidays such as Thanksgiving to give employees the opportunity to share with their families.
Mobile phones played an important role in online shopping because most traffic and online purchases were done through a mobile device. Compared to a 26% back in 2014, this year mobile phones accounted for 36% of Black Friday online sales. In addition to Black Friday weekend, Cyber Monday sales increased 12% from 2015. As to which category of products had the best sales during Thanksgiving and Black Friday, electronics and appliances take the prize with an increase of 27%. As users continue to rely on mobile devices for almost everything, it is almost a sure thing online shopping will only continue to increase as years go by.

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