Black Friday 2020 Sales Reports

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In store sales on black friday where fifty two percent lower than a year ago. That should not surprise anyone online. Sales were up big also not surprise. This actually did surprise me a little bit. Though jason online sales on friday in the united states made it the second biggest day ever for online sales cyber monday last year is the biggest all time black friday this year second-placed that might get bumped down to third place after this year cyber monday. But what did you think of the reports of black friday. Yeah i mean. I think you hit on something there in to today cyber monday. I think you're right. No surprise almond spending on black. Friday grew twenty one point six percent. That was a new record. It was around nine billion dollars worth of purchases that were recorded in the forecast for today for cyber monday this year. It's slated it's it's it's slated to become the largest digital sales day ever spending is forecast to reach somewhere between ten point. Eight billion in twelve point seven billion dollars that would represent growth of fifteen to thirty five percent from last year. You no surprise really there. I think to me what really stood out and again not surprising but still stood out. Because it's just pretty darn impressive was shop by shop by his stock obviously a lot of our listeners. A lot of our members and subscribers are all very familiar with in. It's been a good year for shoplifting. Is stock up around one hundred and seventy five percent. The numbers that day chalked up for black friday really impressive two point. Four billion dollars in black friday sales that was about seventy five percent growth from last year so clearly the investments. They've been making in business all along the way or paying off. And i think the thing the thing there is because we can sit there and criticize shop five for example oh it's overvalued or you know it doesn't make a lot of sense because the business doesn't make that much money yet that that may be true but these are the type of these types of numbers that will i think afford some time i think as long as they continue to record these types of numbers the market is going to continue giving it Some wiggle room there. We've seen it with amazon. We've seen it certainly with wayfair. I think i don't think it'll be different but there were some interesting numbers. There within shop of is report that i think are just worth noting average black friday cart price. Globally was just under ninety one dollars. That was up eleven percent from a year ago so people spent a little bit more in need thing here in this mobile world. We always talk about how mobile is really leading. Four mobile sales on black friday this year. If you look at the breakdown between mobile sales and desktop it was sixty seven percent mobile versus thirty three percent desktop in last year that was sixty nine percent mobile and thirty one percent desktop so the differences is marginal but it seems worse shopping on desktop this year for obvious reasons and so the data i think but yeah it all goes back towards this digital economy that we're witnessing in it. It's it's seems like it has a lot of traction. I don't know that we're necessarily going to be going back anytime soon. I'm glad you mentioned shop five because we have talked a lot about the big retailers like walmart and target in particular the investments that they have made this year for curbside pickup for delivery all of that but worth as you said pointing out the investments shop by his made and this is a stock that i do not own i. I understand both sides of it. It is definitely on my watch. List having pulled the trigger yet. But but i understand the concerns. I understand the around valuation the lack of profitability. And maybe that's why we've seen the rise that we've seen for target and walmart this year because those are just fundamentally. I think a little easier for people to wrap their heads around. But as you said. I mean what what is the future going to be. Is it going. is it going to be well. Wants to all this is behind us. We're just to start going back to the mall now. I don't think so it's going to be more online shopping and to your point more mobile shopping. I think you are. I think you're right there. I just continued to be impressed with wayfair for example the mobile mobile numbers that they continue to record are really impressive. And that's that's furniture. Man i mean like people are shopping for furniture on their phones in regard to shop applied. I think when you when you look at the future. I don't think it's going to be one or the other. I think we've talked about this before really when we talk about target and walmart i mean it really is becoming about omni channel right. It's just meeting. The consumer wherever the consumer wants to be met in the more that companies the more that retailers are able to do this They're going to be able to take advantage of the digital economy. They're going to be able to take advantage of people wanting to actually physically go to stores In so i. I think the future is going to be a little bit of both but certainly shop. A fi is keying in on their specialty. In and i think more growth is going to be coming in. Obviously bad digital space shop is is absolutely one of the companies dictating the development of that space so even even next year. When i think it's probably safe to assume that that we get a little bit more back to normal in and the the the in person shopping experiences a little bit less risky. We'll see people wanting to get out. We'll see people wanting to go to stores and have fun with that experience But but that that. I don't think it's going to really Deter people from shopping online. I mean hopefully. I think ultimately what i'd love to see just this whole black friday cyber monday thing. I really like the fact that we're stretching and just this whole month so it's not really about fewer sales. It's just about timing right. We're just stretching over the course of a month as opposed to really isolating on on individual days. I liked to see that. Continue to wear these concepts. These retailers are not just leveraged to a couple of particular days toward the end of the year. Just real quick before we move onto our next story on that point. Are you seeing this in your own personal life. Because i have in. The last week noticed that the promotional emails i get from different retailers are basically saying. Hey our black. Friday sale is gonna last for the next ten days. It's like the subject line in the email is black friday sale. And then you look. It's like oh this is actually going through december ninth. Yeah i feel like. I've seen a lot of that just anecdotally. I do feel like. I've seen a lot more of that. I think that's that's the right thing to do again. It's just it's a bit of a different time but hopefully as we've seen throughout this whole year this year has been an accelerator for change and a lot of good ways. And maybe this'll be one more thing one more change that will witness over the course of the coming years in the i think ultimately they'll be a

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