Analysts: Online Traffic May Be Up As Much as 20% From Last Year
A more confident consumer and steep discounts combined to make this year's "Black Friday" a smash hit retailers with a strong online presence.
According to analysts, online traffic may rise as much as 20% over last year. Amazon.com said that the number of items sold on their site on "Black Friday" will beat last year, while retailers such as Target and Wal-Mart said that their online sales for "Black Friday" were their strongest ever.
Foot traffic, on the other hand, may end up falling from last year, as customers were lured to online sites by their ease-of-use and lack of maddening crowds.
Online retailers such as Amazon.com offered steep discounts this year in an attempt to get even more customers through their virtual doors. The plan worked, much to the detriment of brick-and-mortar retailers.
With programs such as Amazon Prime, many customers are simply electing to kick up their feet and stay at home to do their shopping. In addition, hauling the family to a busy mall isn't the way that most Americans want to spend their holidays, which is why online stores continue to do so well. As a matter of fact, Macy's online site had to close their virtual doors at least three times throughout the day due to an extreme amount of traffic.
The US consumer is feeling much better about their situation this year, and this should lead to some strong sales, especially for online retailers. The national unemployment rate is near its lowest levels since the "Great Recession", while hourly wages posted their largest increase since 2009. Shoppers, especially those shopping online, are feeling much more eager to part with their hard-earned money this year, much to the delight of retailers who have struggled while dealing with a slow-growing economy.
Filed under: General Knowledge