Thursday March 22, 2018
Home U.S.A. Online Sales ...

Online Sales rise on Black Friday, with Amazon offering Steepest Discounts among E-Commerce Sites

Online shopping continued to grow, with Adobe saying that Black Friday was on track to set a new record by surpassing the $3 billion mark for the first time

Online Shopping (representational Image), Wikimedia

Washington, Nov 26, 2016: US online sales surged on Black Friday, with Inc offering the steepest discounts among e-commerce sites as it set the agenda for what has traditionally been the biggest shopping day of the year for brick-and-mortar retailers.

Though in-store customer traffic picked up in the afternoon, it paled in comparison to the jump in online sales, NBC news cited analysts as saying.

NewsGram brings to you current foreign news from all over the world.

Macy’s Inc’s website crashed as it saw heavy traffic on Friday. It had to delay customers from entering the site at three different times.

Online sales on Friday hit $1.70 billion as of 3 p.m., according to Adobe Digital Index, after reaching $1.13 billion on Thursday, up almost 14 percent from a year ago.

The National Retail Federation expects total sales this holiday season to increase by 3.6 percent to $655.8 billion, mainly due to the rise in online shopping.

This weekend’s shopping could reflect signs of faster economic growth in the fourth quarter this year.

Administrative assistant Kelsey Gilford, 52, was shopping at Chicago’s Water Tower mall on Friday but had already made purchases online on Thursday.

NewsGram brings to you top news around the world today.

“I looked at some online deals on J.C. Penney which were good. I bought a small kitchen appliance yesterday (Thursday),” she said. Inc offered a 42 percent off, compared with 33 per cent off at Walmart, 35 per cent at Target and 36 percent at Best Buy.

Amazon said Black Friday would surpass last year in terms of the number of items ordered on its website. The Seattle-based company declined to provide specifics.

Online shopping continued to grow, with Adobe saying that Black Friday was on track to set a new record by surpassing the $3 billion mark for the first time.

Check out NewsGram for latest international news updates.

It is also expected to become the first day in US retail history to drive over a billion dollars from mobile sales.

Mobile accounted for 40 per cent of sales, with 29 per cent from smartphones, and 11 per cent for tablets.

Combined with Thursday’s $1.93 in online sales on Thanksgiving, the two days are expected to close out at nearly $5 billion in sales.

Tamara Gaffney, principal analyst and director, Adobe Digital Insights, said: “We expect Cyber Monday to surpass Black Friday and become the largest online sales day in history with $3.36 Billion.”

Meanwhile, UK shoppers also rushed to buy Black Friday bargains, as retailers and payment firms reported strong sales.

Barclaycard said it had seen a record number of transactions on Friday, while Argos, John Lewis and Currys PC World reported a surge in orders, BBC reported.

In the UK, analysts expect sales on Friday to have topped last year’s 1.9 billion pound, with people hunting for discounts ahead of an expected rise in prices next year.

“The Black Friday promotions at the end of November are the start of a longer, more drawn-out peak season, which begins with most of the activity online and then moves in-store as we get closer and closer to Christmas day,” said Richard Jenkings, data analyst at credit reference agency Experian. (IANS)

Click here for reuse options!
Copyright 2016 NewsGram

Next Story

Paytm more preferred by Indian professionals than Google: LinkedIn

The rankings are based on analysis of flexible hours, a good parental leave policy, and time-off to do more than work to attract and retain good talent.

Paytm Logo, Wikimedia
  • Indian professionals prefer Paytm
  • After it, Amazon is the second most preferred app
  • Other preferred apps include Oyo, Flipkart, uber, etc.

Professionals in India prefer home-grown technology and mobile Internet companies such as One97 Communications (Paytm), Directi and Flipkart more than global giants such as Google Inc. and Amazon as their workplace, reveals a new report by LinkedIn which was published on Wednesday. The report includes the ranking of 25 most sought-after companies in India according to professionals, based on proprietary LinkedIn data as well as billions of actions by over 546 million professionals present on the platform.

Paytm is the most preferred app by indian professionals.Wikimedia Commons
Paytm is the most preferred app by Indian professionals. Wikimedia Commons

Amazon, which previously the second spot for the past two years in the list, consecutively, is now ranked fourth in the list after the top three companies namely Directi, Flipkart, and One97 Communications. Google’s parent company, Alphabet, has been ranked seventh in the “Top Companies” list by Indian professionals on the social network site.

“The ‘Top Companies’ list highlights the companies where professionals in India want to work now, from homegrown companies to global giants,” said Adith Charlie, India Editor, LinkedIn. “Data shows us that an opportunity to work at solving big problems, rewriting the rules of one’s industry or simply putting a big name on one’s résume could be powerful motivators,” he added said.

Also Read: Popular App Paytm likely to merge Wallet Business with Payments Bank Operation

Ola saw a drop of 11 spots as it came down to the 16th this year from the fifth position in 2017, while McKinsey & Company made a significant jump to the sixth position from 24th last year. This year, more than 50 per cent of the companies in the list are new entrants including Directi (first), Anheuser-Busch InBev (fifth), EY (ninth) and Daimler AG (11th) which have given stiff competition to all the usual top runners namely Adobe (12th), Ola (16th) and Reliance Industries (24th).

Amazon is the second most preferred app. Wikimedia Commons

These rankings are based on analysis of flexible working hours, a great parental leave policy, and time-off to do more than work in order to attract as well as retain good talent. KPMG India and OYO, which is a network of budget hotels in the country, are the other companies which featured on the list of top 10 most preferred companies by Indian professionals. IANS