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        Retail stocks: Optimism and Caution in the holiday season
        Views 10K Contents 76

        Record-Breaking $9.8 Billion in U.S. Online Black Friday Sales

        Key Details:

        ✅ Black Friday online spending in the U.S. soared to a new high of $9.8 billion, marking a 7.5% increase from last year.

        ✅ Mobile shopping contributed a substantial $5.3 billion, hinting at the influence of social media on impulse buying.

        ✅ The 'Buy Now, Pay Later' option gained traction, with usage up 47%, reflecting ongoing consumer budget constraints.

        ✅ Electronics, toys, and gaming dominated sales, while home-repair tools saw less interest, correlating with the level of discounts offered.

        ✅ Despite a modest in-store sales increase, online purchases surged, indicating a shift in Black Friday shopping behavior.

        Context/Background:

        Black Friday has transitioned significantly towards online shopping, with consumers increasingly seeking out the best deals digitally, a trend bolstered by the convenience of mobile purchasing and comparative shopping tools.

        Why This Matters:

        👉 The shift to online sales highlights changing consumer habits, with an emphasis on convenience and bargain hunting amidst persistent economic pressures.

        👉 The surge in online sales contrasts with the more subdued growth of in-store purchases, reflecting a broader trend towards e-commerce.

        👉 Retailers are responding with more aggressive discount strategies, both online and in-store, to capture the attention of deal-savvy shoppers.

        Market Insights:

        📊 Adobe Analytics projects continued strong online sales through Cyber Monday, with an anticipated total spend of $22 billion across the weekend and Cyber Monday.

        Expert Opinions:

        🗨️ "Consumers are more in the driver's seat with online shopping," says Vivek Pandya from Adobe, noting the ease of price comparisons and deal securing online.

        Impact & Recommendations:

        ✅ Retailers and consumers alike should prepare for high levels of discounting and promotional activity to continue through Cyber Monday.

        ✅ Shoppers should remain vigilant for the best deals, as spending is expected to taper off after the Cyber Monday peak.
        Record-Breaking $9.8 Billion in U.S. Online Black Friday Sales
        Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more
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