Macy's, which owns the upscale department store chain Bloomingdale's as well as its eponymous stores, had been praised broadly through the day by retail analysts for delivering on tight inventory control and compelling discounts on Black Friday. According to data from Adobe Digital Insights, U.S. consumers spent a record $5 billion on Black Friday this year, up 16.9 percent from last year.
"We know that opening on Thanksgiving Day was merely pulling shopping visits from Black Friday, as opposed to creating an additional opportunity for shoppers to hit the stores", Field said about that strategy. More traditional retailers put a lot of time and money into modifying and upgrading their respective websites so consumers could purchase delivery orders in bulk, according to Reuters.
The 2017 holiday season is projected to be the biggest e-commerce season ever, and with many retailers counting on the holidays to redeem their lackluster performances so far this year, these early figures are a good sign for those that have invested heavily in online channels.
Stores offered heavy discounts, creative gimmicks and free gifts to draw bargain hunters out of their homes, but some shoppers said they were just browsing the merchandise, reserving their cash for internet purchases. The NRF, whose overall production sales data is strictly observed every year, is scheduled to release Black Friday, Thanksgiving and Cyber Monday sales numbers on Tuesday.
"The fact that shopper visits remained intact on Black Friday illustrates that physical retail is still highly relevant and when done right, it is profitable". Based on these factors, the National Retail Federation expects holiday sales to increase at least 3.6% over the previous year, which would match last year's increase.
USA consumer confidence has been strengthening over this past year, due to a labor market that is churning out jobs, rising home prices and stock markets that are hovering at record highs.