There was a lot of money spent at cash registers and online credit card payment processing pages last weekend.
ShopperTrak recently reported that the four-day holiday weekend following Thanksgiving accounted for $22.2 billion in brick-and-mortar retail sales, up one percent when compared to 2012.
“Retailers stretched Black Friday deals and promotions across November – removing the focus from just one big day of shopping,” said Bill Martin, founder of the firm. “Shoppers, in turn, paced themselves. They spread their shopping and spending not just across the holiday weekend, but also into the days and weeks before it, contributing to a decrease in last weekend’s shopper traffic. Customers also researched store merchandise online first and more often came to stores ready to buy particular products.”
However, the availability of e-commerce options may have led less consumers to visit retail locations than in years past, despite the increase in spending. ShopperTrak reported that retail consumer traffic over the weekend following Thanksgiving decreased by four percent when compared to 2012.
For example, USA Today reported that online spending during Cyber Monday increased by roughly 20 percent this year when compared to 2012. Citing figures obtained from FactSet, the company reported that internet retailers are expecting to post average earnings growths of 67 percent this year.
However, that doesn’t mean consumers are completely done using their credit cards and debit cards to purchase products at physical retail locations. USA Today also reported that more than 95 percent of all consumer transactions conducted this holiday season will be completed the old fashioned way: at a cash register manned by a human store employee.
So even though retail outlets have been focusing on their e-commerce offerings more than ever, the bulk of the revenue is still obtained at an old-school point of sale terminal.Back To Blog