Record Mobile Sales and Increased Spending on Holiday Gifts
- Black Friday weekend shopping traffic exceeds NRF predictions
- Consumers spent more on holiday gifts this year
- 49% of shoppers bought apparel and accessories, 31% bought toys, and 27% purchased gift cards
- Mobile shopping saw significant gains during Cyber Monday
- Cyber Monday spending on mobile devices rose 13.3% year over year to $7.6 billion
- In-store Black Friday traffic increased for some retailers, declined for others
The National Retail Federation (NRF) reported that consumers spent an average of $235 on holiday gifts during the five-day shopping period between Thanksgiving and Cyber Monday, up from last year’s $227. Apparel and accessories were the most popular purchases, followed by toys, gift cards, and personal care items. Mobile shopping also saw a significant increase, with 63% of Cyber Monday shoppers using their devices to make purchases. Adobe Analytics found that mobile sales accounted for 57% of Cyber Monday transactions, up from 33% in 2019. Despite mixed results for in-store traffic, the NRF predicts retail sales growth between 2.5% and 3.5% through December, totaling $979.5 billion to $989 billion.
Factuality Level: 8
Factuality Justification: The article provides accurate information about holiday shopping trends during the Thanksgiving-Cyber Monday period, citing multiple sources for its data and presenting a balanced view of both increases and decreases in certain areas. It includes relevant statistics and quotes from experts to support its claims.
Noise Level: 4
Noise Justification: The article provides relevant information about holiday shopping trends and consumer behavior during Thanksgiving and Cyber Monday, including spending patterns and the increasing use of mobile devices for online purchases. It also mentions some variations between different regions and retailers. However, it lacks a deeper analysis or exploration of the reasons behind these trends and does not offer significant insights beyond basic reporting.
Financial Relevance: Yes
Financial Markets Impacted: No
Financial Rating Justification: The article discusses holiday shopping trends during Thanksgiving and Cyber Monday, including increased spending and mobile shopping. It also mentions the impact on retailers like Simon, a real estate investment trust that owns shopping centers. However, it does not directly mention any specific financial markets or companies being impacted.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the text.
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