ICSC Reports Strong Black Friday, Brick-n-Mortar Retailers Capture 75% of Sales
Throughout the holiday weekend, more than 145 million adults spent time at malls and shopping centers and spent an estimated $377.50 on average, according to International Council of Shopping Centers’ (ICSC) Thanksgiving Weekend Shopping Report. The survey notes 105 million adults visited malls and shopping centers across the country on Black Friday alone.
“Thanksgiving Weekend is a great indicator for what will be a holiday season full of spending, as we are seeing a very positive consumer sentiment and willingness to spend,” said ICSC’s Tom McGee. “Shopping centers across the country should feel very optimistic about the season ahead.”
Adobe Analytics, a leading collector of e-commerce data, said Cyber Monday was expected to generate $6.6 billion in sales, up from $5.6 billion a year ago. Sales were up 16.8% to $3.38 billion, with revenue from smartphones jumping 41% over last year, late Monday afternoon.
ICSC Report Key Findings:
- 87% of Thanksgiving/ Black Friday shoppers took advantage of in-store and online purchasing
- 75% of all spending was captured by retailers with a physical presence
- 74% of Thanksgiving/Black Friday shoppers spent the same or more than in 2016
- 69% of those purchasing online and picking up in-store (click & collect) made an additional in-store purchase
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