Though reports over the weekend spoke of holiday shoppers gone wild with fists, knives, and tasers in local Walmarts and shopping malls, the reality is many Americans avoided the mayhem and shopped online.
The shopping revolution is here (and no kidding, as reports say Amazon is floating the use of drones to deliver packages some day) and the numbers released Tuesday showed five “consecutive day[s] of record-breaking online sales.”
And not only are people buying online, the use of mobile devices, like cell phones and tablets, to shop has surged.
“Its a gigantic shift – some might say a revolution - not only in where we shop, but in how we shop” Fox Business host Stuart Varney said Tuesday on Fox News’ America’s Newsroom. “This holiday weekend has turned into a triumph for the Internet on holiday sales and I think the traditional brick and mortar stores; the mall anchors are in real trouble.”
According to a report from Fox Business:
A total of $2.29 billion in sales were recorded on Monday, according to Adobe’s (ADBE) Digital Index shopping data released on Tuesday. That marked the fifth consecutive day of record-breaking online sales.
Internet retailers generated the most sales overall with a 42% share. Adobe noted that 18.3% of sales came from mobile devices, an increase of 80% over last year.
Total online sales for Thanksgiving through Cyber Monday were up 26% at $7.4 billion. Tamara Gaffney, principal analyst at Adobe, said retailers earned 10% of their annual sales in just the last five days, up 26% year-over-year.
“I think your going to see some of the big names go out of business because I don’t see how they can compete with online,” Varney predicted. “And I think, starting almost immediately, you will see tremendous discounting at the traditional brick and mortars as they try to keep up with the online stores.”