All in favor of record-breaking sales weekends, say “aye!” In support of Stitch Labs’ predictions (and subsequent data – we love data), Cyber Monday was truly the belle of the ball in terms of holiday spending this past weekend. Here’s a retail round-up featuring noteworthy nuggets from some of our favorite publications:
- Black Thursday? You read that right. CNN Money reported an increase in Thanksgiving shopping over the past few years – and in 2014, at the expense of Black Friday. In-store visits were up 27 percent on Thanksgiving Daycompared to 2013.
- Black Friday fizzles. Consumer sales took a Black Friday tumble of 11 percent, as reported by Bloomberg. The more than 6 million shoppers who were projected to show up, credit cards and coffee in tow, simply never hit the stores as expected.
- Cyber Monday shines. E-commerce sales on the Monday after Thanksgiving surpassed $2 billion, up 17 percent compared to a year ago. This sudden spike in sales allowed Cyber Monday to snag the title of biggest e-commerce day, according to comScore, as reported by TIME.
- The move toward mobile. comScore’s data, as highlighted by Huffington Post,suggests the Cyber Monday spike translates to more of a change in shopping behavior than a lack of consumer demand.
What does this mean for small businesses? In short, you shouldn’t fret. Newly released Stitch Labs findings show that, despite falling short of expectations, Black Friday does not define the entire holiday season for small retailers. Black Friday isn’t everything –here are the stats to prove it.
Looking toward the future, Stitch Labs data also revealed that sales in the first six days of January 2014 were higher than those from Thanksgiving, Black Friday, Small Business Saturday and Cyber Monday 2013 combined. Do you think this trend will follow suit in 2015? Comment below with your predictions.