Simon Property Group reported a 6.4 percent increase in shopper traffic over Black Friday weekend, indicating a robust holiday retail season. Similar trends were noted by Placer.ai, with an 8 percent rise in shopping mall foot traffic on Black Friday, which signifies that consumer interest is spiking due to effective price promotions. Furthermore, Small Business Saturday reflected a positive year-over-year performance, with increased traffic in both downtowns and malls, suggesting sustained consumer enthusiasm despite macroeconomic concerns.
Jenny Freshwater from Amazon noted that Black Friday saw unprecedented sales and customer engagement, emphasizing that social media-driven products dominated the shopping experience this year. With significant sales from new brands and merchandise like Amazon Merch on Demand, the company successfully tapped into the evolving consumer behavior, illustrating the impact of social media on purchasing trends. Overall, tens of millions shopped at Amazon with fashion and home goods leading the categories.
Adobe forecasts Cyber Monday to be record-breaking with consumers expected to spend $13.2 billion online, marking a 6.1 percent increase year-over-year. The peak spending time is projected to be between 8 p.m. to 10 p.m., with online spending hitting an astronomical rate, underscoring the significance of this shopping day and the increasing reliance on online purchasing. This suggests that consumers are adapting and opting for digital shopping experiences, especially during the holiday season.
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