Black Friday 2011 seems to have set new record sales according to the first round of analyst reports.
Black Friday 2011 has turned out to be a big success for retailers if you can believe the first analyst reports about Black Friday sales. We already carried IBM's findings that said that Thanksgiving Day online sales rose by 39.3% and Black Friday sales increased by 24.3% compared to the same period last year. Now ComScore released their widely recognized Black Friday spending report. Black Friday (November 25) saw $816 million in online sales, making it the heaviest online spending day to date in 2011 and representing a 26% increase versus Black Friday 2010. Thanksgiving Day (November 24), while traditionally a lighter day for online holiday spending, achieved a strong 18% increase to $479 million.
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Overall the Holiday spending so far starting on November 1st is $12.7 billion, which is an increase of 15% compared to last year. Consumer spending is a major factor for the US economy, so these reports are good news.
“Despite some analysts’ predictions that the flurry of brick-and-mortar retailers opening their doors early for Black Friday would pull dollars from online retail, we still saw a banner day for e-commerce with more than $800 million in spending,” said comScore chairman, Gian Fulgoni. “With brick-and-mortar retail also reporting strong gains on Black Friday, it’s clear that the heavy promotional activity had a positive impact on both channels. We now turn our attention to Cyber Monday, a day that Shop.org says will see eight-in-ten retailers running special online promotions. Last year, Cyber Monday was the heaviest day of online spending ever, with sales exceeding $1 Billion, and we fully expect to see another record set this year.”
We covered the whole pre Black Friday sales event and it was really worthwhile for consumers to shop early. We saw lots of exceptional deals that did match offers on the actual Black Friday or have even been better. Enough with looking back, the topic at hand today is Cyber Monday.