USA: Retail wars continue on Cyber Monday
ShopperTrak reports a 1% drop in store visits during the two-day period covering Thanksgiving and Black Friday.
The slight dip in traffic was largely anticipated as e-commerce growth continues to soar. Online sales for the Black Friday to Thanksgiving time frame were up 17.7% to $5.27B, according to an estimate from Adobe.
The Super Bowl of online shopping starts at midnight. The National Retail Federation expects 122M Americans to shop online tomorrow on Cyber Monday vs. 121M last year.
Early analysis indicates that Wal-Mart (NYSE:WMT) through its Jet.com add-on and Target (NYSE:TGT) via hard-hitting promotions are significant players in keeping up with Amazon online this holiday season.
Source: Seeking Alpha
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