It appears that 2011 was a record-breaking year for Black Friday retail sales. Data released from IBM, the National Retail Federation, comScore, Channel Advisor, and ShopperTalk indicates that 2011 had the highest Black Friday sales on record. These record numbers were attained despite the weak economy, and have left many with high hopes for sales on Cyber Monday.
According to IBM, the majority of Black Friday sales took place between the hours of 6:00am and 2:00pm. Many online retailers elected to offer aggressive deals on Friday, rather than waiting until Cyber Monday. Despite the early start for online sales, they are still expected to top the $1 billion mark on Monday.
The average consumer spent nearly $400 on Black Friday, which was up over 9 percent from 2010. Online sales accounted for 38% of this spend. Online spending on Friday was over $800 million, which is up 26% over 2010. With the overall increase of online shopping, IBM also reported increased mobile shopping numbers:
- Mobile traffic increased to 14.3%
- Sales on mobile devices increased to 9.8%
- iPad shoppers had the highest conversion rates, converting 4.6% of the time, compared to the mobile average of 2.8%
As consumers become more and more willing to spend their money online, rather than in traditional retail stores, they have also become more willing to shop on their mobile devices. While some question whether this high spending will be sustained through Cyber Monday, many retailers remain optimistic.