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Black Friday, the crowds are back, but the discounts aren’t what they used to be

Despite fewer exciting deals, Black Friday shoppers opened their wallets seriously, and for the first time, online sales dropped as crowds returned to stores.

Holiday-hungry consumers spent $8.9 billion online on Friday, according to Adobe Analytics. It’s a slight decrease compared to 9 billion dollars last year.

One reason for the drop: the online blitz got off to a good start before Thanksgiving Day. Adobe data shows consumers spent more than $3 billion online in 19 separate days this season, as stores rolled out early discounts — some as early as September.

There has also been so much chatter about shipping logs and labor shortages – and so many sales promotion emails filling inboxes – that many shoppers want a head start into gift season.

On Thanksgiving Day alone, online shoppers spent $5.1 billion before the pumpkin pie was completed, according to Adobe. The number matches last year’s turkey day stats, but is at the bottom end of Adobe’s $5.1 billion – $5.9 billion forecast.

Complete data on in-store sales results is yet to be released, leaving the question of whether online sales will top the in-person category once again, after taking the top spot for the first time. first last year. As of mid-afternoon Friday, retail sales were up 29.8 percent from last year’s COVID pressure lows, according to Mastercard SpendPulse, which tracks both cash and credit payments.

Return lines for metro area stores like Best Buy in Manhattan and Macy’s flagship in Herald Square on Friday, with shoppers saying they feel comfortable being outside again after being at home for so long.

Nearly 100,000 people visited the Mall of America in Bloomington, Minnesota by early Friday afternoon, more than twice as many as last year, but a bit shy of 2019’s numbers for the country’s largest mall. Associated Press reported.

“We’re off to a great start,” said Jill Renslow, Senior Vice President of Mall of America.

But the pandemic has likely permanently transformed a good portion of the until you drop by their keyboards shopping crowd.

“The deal you used to find on Black Friday that people would line up at the store and try and get it, it just doesn’t happen,” said Angeli Gianchandani, a marketing professor at the University of New Haven.

“It is Black November now,” she added. “There are so many other alternatives out there. It is not one size fits all. “

The average Thanksgiving Day discount is 27% in the US, down 7% from last year, according to Salesforce.com.

The value of Thanksgiving Day orders rose 11%, even though consumers actually bought fewer items, reflecting persistent inflation this year.

“It is Black November now,” she added. “There are so many other alternatives out there. It is not one size fits all. “

The average Thanksgiving Day discount is 27% in the US, down 7% from last year, according to Salesforce.com.

The value of Thanksgiving Day orders rose 11%, even though consumers actually bought fewer items, reflecting persistent inflation this year.

Holiday sales are expected to grow significantly this season, accelerating the pace from last year. National Retail Federation forecast 8.5% to 10.5% sales growth for both November and December, based on 8% growth in those months in 2020.

The well-publicized logistics issue has created some concerns about receiving gifts online on time. Many retail sites are sporting banners that warn online shoppers to order early, to get them in time to put them under the Christmas tree. The US Postal Service says December 15 is the last day for packages that are expected to arrive on December 25.

This article was first published on NYPost.com

https://www.marketwatch.com/story/black-friday-crowds-return-but-discounts-are-not-what-they-used-to-be-11638041519?rss=1&siteid=rss Black Friday, the crowds are back, but the discounts aren’t what they used to be

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