Imports of aid through southern Gaza completely halted as fresh fighting adds to distribution challenges
mena2 hours ago
US shoppers had splurged more than $1.52 billion online by Thanksgiving evening, and more bargain-hunters turned up at stores this year after two weak holiday seasons as retailers opened their doors early on the eve of Black Friday.
At the start of the holiday season consumer spending rose 16.8 per cent year-over-year until 5pm ET (2200GMT) on Thursday, according to Adobe Analytics, which tracked 80 per cent of online transactions at the top 100 US retailers.
Surging online sales and a shift away from store shopping have thinned the crowds typically seen at stores on Thanksgiving evening and the day after, Black Friday, for the past two years. But a strong labour market, rising home prices and stock markets at record highs have improved shopper appetite this year. Crowds at stores in many locations around the country were reported to be strong, according to analysts and retail consultants monitoring shopper traffic across the US.
"The turnout is clearly better than the last couple of years," said Craig Johnson, president of Customer Growth Partners. "The parking lots are full and the outlet malls are busy."
The retail consultancy has 20 members studying customer traffic in different parts of the country.
Moody's retail analyst Charlie O' Shea, who was in Bucks County, Pennsylvania, reported healthy traffic at local stores including consumer electronics chain Best Buy, clothing store Old Navy and retailer Kohl's. "The weather is cooperating and people here are out," he said.
The National Retail Federation is projecting that sales for November and December will rise 3.6 per cent to four per cent this year, versus a four per cent increase last year. Non-store sales, which include online sales and those from kiosks, are expected to rise 11 per cent-15 per cent to about $140 billion.
In New Jersey, around 50 people lined up a Macy's at the Westfield Garden State Plaza mall before it opened and around 200 people stood outside the Best Buy store, many to pick up their online orders.
"Me and my husband have a bigger place and we need a bigger TV for the living room," said Jenipher Gomes, who bought a 50-inch Samsung TV at Best Buy for $399.99. Shopper Hammad Farooq said he waited at the store for an hour to shop for laptops and monitors. In Chicago, shoppers appeared to be slightly less enthusiastic to emerge from their turkey slumber and crowds were thin along the city's popular shopping destination, State Street.
"There's a few more people than normal but I wouldn't call this crowded at all," Deloitte auditor Eugenia Liew said as she shopped at discount retailer Target. "I expected a lot more people." The holiday season spanning November and December is crucial for retailers because it can account for as much as 40 per cent of annual sales. Retailers try to attract shoppers with deep discounts.
Average discounts ranged between 10 and 16 per cent with the best deals online on Thanksgiving evening available for computers, sporting goods, apparel and video games, according to date from Adobe.
The number of customers shopping on their smartphones surged, accounting for 46 per cent of the traffic on retail websites, while traffic from desktop and laptop computers declined 11 per cent and nearly six per cent respectively, according to the data.
Imports of aid through southern Gaza completely halted as fresh fighting adds to distribution challenges
mena2 hours ago
The Spice Board of India has taken steps to ensure the safety and quality of Indian spice exports to these regions
asia3 hours ago
Compound annual growth rate of the Mena e-commerce industry has grown by 25% from 2018 until 2023
business3 hours ago
His on-field earnings amounted to $200 million while his off-field earnings were $60 million thanks to sponsorship deals
football3 hours ago
On April 19, the building suffered damages after residents felt a jerk and were evacuated by authorities
uae3 hours ago
Competition with confirmed field of more than 800 to be held at Al Nasr Club Dubai from May 17-19
sports3 hours ago
Netanyahu says ground assault on Rafah is vital to the mission of destroying Hamas to prevent any repetition of the October 7 attack
mena3 hours ago
Sheikh Mohammed said that the leaders also discussed topics to consolidate Arab cooperation in common economic, political and social fields
uae3 hours ago