Retailers Generate Record-Setting Online Holiday Sales
Between Nov. 1 and Dec. 31, online sales hit $91.7 billion, up 11 percent from $82.5 billion a year ago, according to a report by Adobe Insights. The 2016 holiday season also broke a major e-commerce record: Cyber Monday became the biggest online shopping day in U.S. history, generating $3.45 billion in online sales, up 12 percent from 2015. Black Friday wasn’t far behind, with sales jumping nearly 22 percent year-over-year to $3.34 billion. Mobile and tablets accounted for 50 percent of web visits during the 2016 holiday season, driving 31 percent of purchases and generating $28.43 billion in revenue (up 23 percent from last year).
Total Retail's Take: These numbers just confirm what we already know — consumers are increasingly choosing to shop and make purchases online, whether it be on a desktop computer, smartphone or tablet. Those retailers that adapt their businesses to meet the needs of today's digital consumers will be those that thrive; those that do not will struggle to survive. This is why you see traditional brick-and-mortar retailers such as Wal-Mart, Target, Macy's and many others dumping so much money into growing their e-commerce businesses. It's no secret that the future of commerce is digital — it's been trending that way for years. Being able to seamlessly integrate physical stores and digital together into one holistic experience for customers is key to future success.
Joe Keenan is the executive editor of Total Retail. Joe has more than 10 years experience covering the retail industry, and enjoys profiling innovative companies and people in the space.