Black Friday 2020 online shopping surges 22% to record $9 billion, Adobe says

Customers queue outside Bath & Body Works during black Friday. Shoppers go to stores to take advantage of Black Friday sales during the COVID-19 pandemic.

SOPA Images | LightRocket | Getty Images

Spending online on Black Friday this year surged nearly 22% to hit a new record, according to data from Adobe Analytics, as the Covid pandemic pushed more people to shop from the sofa and avoid crowded stores and malls.

Consumers spent $9 billion on the web the day after Thanksgiving, up 21.6% year over year, according to Adobe, which analyzes website transactions from 80 of the top 100 U.S. online retailers.

This makes Black Friday 2020 the second-largest online spending day in history in the United States, behind Cyber Monday last year, Adobe said. Cyber Monday this year is slated to become the largest digital sales day ever, with spending reaching between $10.8 billion and $12.7 billion, which would represent growth of 15% to 35% from a year earlier.

“New consoles, phones, smart devices and TVs that are traditional Black Friday purchases are sharing online shopping cart space this year with unorthodox Black Friday purchases such as groceries, clothes and alcohol, that would previously have been purchased in-store,” said Taylor Schreiner, a director at Adobe Digital Insights.

As many retailers kicked off their holiday sales in October this year, tied to the delayed timing of Amazon’s Prime Day event, and put more doorbuster deals online, shoppers had less of a reason to head to stores on Black Friday. People who did venture out were greeted with fewer lines and emptier parking lots than holiday sales events of the past.

On Black Friday, Adobe found consumers spent $6.3 million per minute online, or $27.50 per person, on average. Spending on smartphones surged 25.3% year over year to reach $3.6 billion, representing 40% of total e-commerce spending.

And with retailers from Target to Best Buy to Dick’s Sporting Goods encouraging customers to buy online and then safely pick up their orders at stores, the use of curbside pickup on Black Friday increased 52% from a year earlier, Adobe found.

Hot items on Black Friday included Hot Wheels, Lego sets, Apple AirPods, Apple Watches, Amazon Echo devices and Samsung TVs, according to Adobe data, as consumers scoured the web for things to entertain themselves and their kids.

People also are turning to the internet for fresh food and snacks this holiday season. Online grocery shopping on Black Friday surged 397% compared with October daily averages, Adobe said. Sales of personal care products skyrocketed 556%, and online spending on pet products rose 254%.

Source Article

Read more

Black Friday online shopping on track to hit record as holiday shoppers skip stores, Adobe says

  • Online sales on Black Friday are on track to reach a record high this year, according to preliminary data from Adobe Analytics.
  • They’re on pace to total between $8.9 billion and $9.6 billion, an increase of between 20% and 29% depending on how many shoppers make purchases late into the night.
  • The data indicates one-day holiday sale, typically associated with an in-store shopping frenzy of long lines and the pursuit of coveted gift items, played out mostly online.



a man holding a sign: People look at jewelry at Macy's Herald Square during early opening for the Black Friday sales in Manhattan, New York, November 27, 2020.


© Provided by CNBC
People look at jewelry at Macy’s Herald Square during early opening for the Black Friday sales in Manhattan, New York, November 27, 2020.

Online sales on Black Friday are on track to reach a record high this year, as bargain hunters combed websites for deals and avoided stores during the coronavirus pandemic, according to preliminary data from Adobe Analytics.

Loading...

Load Error

As of late Friday, online sales were on pace to amount to between $8.9 billion and $9.6 billion, an increase of between 20% and 29% from last year, depending on how many shoppers make purchases late into the night. Nearly 42% of sales came from smartphones as of 4 p.m. ET, a 7% increase over last year.

The data indicates the one-day holiday sale, typically associated with an in-store shopping frenzy of long lines and the pursuit of coveted gift items, played out mostly online. With the surge in Black Friday online shopping, U.S. consumers will have spent at least $6.2 million per minute on the day of holiday sales, according to Adobe.

Adobe anticipates that Cyber Monday will become the largest online sales day in history, totaling between $11.2 billion and $13 billion in online sales — a 19% to 38% year over year increase.

Online sales also hit a record on Thanksgiving Day, jumping 21.5% to $5.1 billion, according to Adobe. The company analyzes website transactions from 80 of the top 100 U.S. online retailers. Nearly half of those sales came from smartphones. Retailers also got a boost in sales if they offered curbside pickup. Companies that offered the faster alternative to getting a package delivered to customers’ homes had a 31% higher conversion rate of traffic to their sites. 

With many retailers starting holiday sales in October and putting some of their deepest discounts on their website, shoppers had less of a reason to head to stores in person this Black Friday. Stores and malls reflected more fewer brick-and-mortar sales, with fewer lines and emptier parking lots than holiday sales events of the past.

Pandemic-related restrictions and Covid cases also shaped behavior. Shoppers were more likely to buy gifts online if they lived in states with Covid-19 restrictions around family gatherings. Adobe saw 3.4 times higher year over year growth in online shopping in those areas on Thanksgiving Day compared with states with less restrictions.

During Black Friday, the best-selling toys were Star Wars items, Hot Wheels, Nerf toys and video games including Super Mario 3D All-Stars, Madden NFL 2 and NBA 2K21. In

Read more

Online shopping hits new record, topping $5B, Adobe Analytics says

Shoppers flocked online on Thanksgiving in record numbers, spending an unmatched $5.1 billion even as concerns regarding a prolonged economic downturn prompted by rising COVID-19 cases looms.

According to data from Adobe Analytics, online sales surged nearly 22% over 2019 when sales hit $4.2 billion, indicating that the resurgence of cases nationwide continues to keep shoppers out of stores while forcing them to make more purchases online.

The figures aligned with Adobe’s earlier prediction that online holiday shopping would “shatter” all records from years past.

Unsurprisingly, larger retailers saw the biggest growth, with a 233% increase in sales yesterday over the October daily average. Comparatively, smaller retailers saw a 154% increase.

ONLINE HOLIDAY SHOPPING SALES EXPECTED TO ‘SHATTER’ RECORDS, ADOBE ANALYSIS PREDICTS

However, retailers that implemented curbside pickup saw 31% more traffic to their website compared to those who didn’t. Analysts expect this to become “even more pronounced” as free and less expensive shipping options become scarce as Christmas inches closer.

While Thanksgiving garnered record-breaking sales, analysts say “it didn’t come with the kind of aggressive growth rate” seen at the start of the pandemic.

Even still, analysts issued an upbeat forecast for Black Friday and Cyber Monday, projecting that both days will still become the two largest online sales days in history.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

“While COVID-19, the elections and uncertainty around stimulus packages impacted consumer shopping behaviors and made this an unprecedented year in ecommerce, many consumers are still holding off on remaining gift purchases until today and Cyber Monday in hopes of scoring the best deals,” Adobe Digital Insights director Taylor Schreiner said.

Adobe projects that Black Friday online will garner between $8.9 billion, an increase of 20% compared to last year, and $10.6 billion, an increase of 42%.

Based on the current data, Adobe reaffirmed its earlier projection that U.S. consumers will spend a total of $189 billion online from Nov. 1 through Dec. 31, which is a 33% growth from 2019.

However, this projection excludes any potential economic stimulus package as well as any new lockdown restrictions that could materialize if cases continue to rise.

CLICK HERE TO READ MORE ON FOX BUSINESS

Source Article

Read more

CLO Virtual Fashion Welcomes Substance by Adobe, Jeanologia, and ColorDigital Integrations to CLO 6.0

CLO Virtual Fashion, leader in 3D fashion design software, has partnered with Substance by Adobe, tool for creating textures for 3D content, Jeanologia, Spain-based company who specializes in finishing technology solutions for denim, and ColorDigital, pioneer in faultless and expedient color and surface communication, for the release of CLO 6.0. These exciting integrations allow for brands and designers to achieve the flawless workflow they’ve desired by optimizing the entire 3D design process from start to finish and enabling them to sustainably create digital designs that are an exact 1:1 representation of the physical end product.

Since CLO’s inception in 2009, they have been dedicated to cultivating a more creative and sustainable landscape for apparel industries. Each release, they get closer to their mission of virtualizing every single garment on earth, transforming the way we produce and consume garments, and organizing all garment related data to make it useful. With the software’s accelerated simulation engine and unique features, they offer users of CLO, Substance by Adobe, Jeanologia and ColorDigital robust capabilities that will revolutionize their entire design process.

“By providing practical and seamless workflows with Substance by Adobe, Jeanologia and ColorDigital, CLO users can now extend their design continuity to its fullest with their beloved applications. We are extremely thrilled to work with accredited partners to bring augmented value to our users,” says Simon Kim, CEO of CLO Virtual Fashion.

“We are excited to collaborate with CLO and empower designers to push the fashion industry forward with 3D technology that expands the definition of what’s possible,” says Francois Cottin, Director of 3D & AR Marketing at Adobe. “The Substance integration unlocks the ability to iterate on materials instantly, present photorealistic designs, and discard unwanted prototypes without any waste. CLO designers are guaranteed an unprecedented level of control and realism and we are eager to see what they will create.”

Substance by Adobe: This integration allows users to import Substance SBSAR files directly into the CLO software, expressing textures and materials more realistically than ever before through physical based rendering technology. These material properties can be customized and edited by the designer, taking true-to-life virtual simulation in 3D apparel design to the next level.
Jeanologia: With this new integration, brands and designers are able to apply a .jean file created in eDesigner directly onto CLO’s garments to visualize and render denim finishes, and then send it straight to a laser machine to begin production using eMark, Jeanologia’s software that is installed in the laser machine.
ColorDigital: Developed by ColorDigital and supported by the German Fashion Institute, the DMIx Cloud© is a cloud-based solution created to achieve hyperrealistic digitized materials. The DMIx Cloud© allows global designers and suppliers to share information at the highest possible level in terms of color and surface textures of fabrics. Through this new integration, designers and brands using CLO are able to drag and drop textures and colors from the DMIx Cloud© that is accessible via web browser and apply these directly to

Read more

Adobe Predicts Online Shopping Surge This Holiday Season

With new coronavirus cases in the U.S. soaring in October, consumers are expected to do more online shopping this holiday season … a lot more. Software company Adobe (NASDAQ: ADBE) is calling for a 33% year-over-year uptick in the country’s e-commerce spending in November and December, thanks to shoppers’ wariness of setting foot in an actual brick-and-mortar store, CNBC reported today. That would take the season’s online shopping tally to a figure near $189 billion.

That growth outlook is the more conservative one tendered by Adobe Analytics, too. Should the recent resurgence of COVID-19 lead to renewed shutdowns, it said, the nation’s e-commerce industry could see growth on the order of 47% in the coming two months.

Computer keyboard with an online shopping cart key.

Image source: Getty Images.

Amazon (NASDAQ: AMZN) will garner a massive share of whatever online spending materializes. During its quarter ending in December of last year, the e-commerce giant raked in $53.7 billion worth of product sales in the United States alone. The company has seen strong double-digit sales growth this year, with shoppers turning to the web to steer clear of physical stores.

But rivals are more ready to compete online this year than they’ve ever been, after being forced to adapt to the challenges of the pandemic. Analytics site Digital Commerce 360 recently reported that 44% of the nation’s biggest 500 brick-and-mortar retailers now offer curbside pickup, up from only 7% before the pandemic. This added option will help fuel the big e-commerce growth Adobe is modeling.

These physical stores enjoy another edge on their online-centered rivals: Despite the projected growth of online sales this holiday season, roughly three-fourths of this year’s shopping should still be done in-store, according to Adobe.

Find out why Amazon is one of the 10 best stocks to buy now

Motley Fool co-founders Tom and David Gardner have spent more than a decade beating the market. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*

Tom and David just revealed their ten top stock picks for investors to buy right now. Amazon is on the list — but there are nine others you may be overlooking.

Click here to get access to the full list!

*Stock Advisor returns as of October 20, 2020

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. James Brumley has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Adobe Systems and Amazon and recommends the following options: short January 2022 $1940 calls on Amazon and long January 2022 $1920 calls on Amazon. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Source Article

Read more

Online holiday shopping sales expected to ‘shatter’ records, Adobe analysis predicts

Yeah, that seems about right.

With more folks at home during the ongoing pandemic and fewer retail outlets offering traditional, in-person Black Friday deals, a new report from Adobe predicts that online holiday shopping will “shatter” all records from years past.

More specifically, Adobe’s 2020 report predicts that online holiday shopping will see a 33% year-over-year increase. An even greater increase is expected (47%) if shutdowns persist in “large parts of the country” and if consumers expect the passing of another stimulus package ahead of the holidays.

In formulating its predictions for 2020 shopping habits, the software firm used AI and machine-learning technology to analyze more than 1 trillion visits to U.S. retail stores as well as 100 million SKUs (stock keeping units) from 80 of the nation’s biggest retailers. The result, Adobe says, is “the industry’s most accurate view of online shopping in the U.S.”

DOORDASH OPENS DELIVERY-ONLY RESTAURANT IN PARTERSHIP WITH CALIFORNIA BRAND

Among the other predictions from the report, Adobe believes that Black Friday and Cyber Monday will continue to drive online sales (increasing by 39% and 35% year-over-year, respectively).

Furthermore, Adobe predicts that the holiday shopping period known as Cyber Week, which normally extends from Thanksgiving through Cyber Monday, will instead balloon into something described as the entire “Cyber Months” of November and December.

Sales from online shopping will completely shatter records from years past, with an expected 33% year-over-year increase, according to Adobe. (iStock)

Daily online sales, beginning at the start of November, are also expected to surpass $2 billion per day; come Nov. 21, sales are expected to surpass $3 billion per day through Dec. 3.

Not surprisingly, Adobe observed another pandemic-prompted boost in the BOPIS (buy online, pick up in-store) trend, with approximately 50% of sales (at retailers that offer BOPIS or curbside pickup) to be purchased in this fashion by “the week leading up to Christmas.”

Ticker Security Last Change Change %
WMT WALMART INC. 142.87 +0.71 +0.50%
TGT TARGET CORP. 157.03 -0.94 -0.59%
HD THE HOME DEPOT INC. 276.84 +0.80 +0.29%
M MACY’S INC. 6.45 -0.30 -4.44%

CLICK HERE TO READ MORE STORIES ON FOX BUSINESS

Big-box retailers and online giants won’t be dominating all of the market, though. Adobe’s report claims that smaller, independent retailers will see a boost of 107% in online sales, versus only 84% for larger retailers. Online sales for larger retailers, however, are still growing at a much faster rate when compared to their independent counterparts.

Walmart announced in September that it would be moving away from the “doorbuster” model in 2020, favoring online deals and more sales “spread throughout the season.” (Rich Graessle/Icon Sportswire via Getty Images)

GET FOX BUSINESS ON-THE-GO BY CLICKING HERE 

Adobe predicting an unprecedented boost in online sales isn’t that surprising in unprecedented times: Popular retailers have previously announced their shift away from the traditional “doorbuster” shopping model

Read more