*By Chloe Aiello* E-commerce and mobile was the breakout star this Thanksgiving weekend with more customers picking the couch over the queue, shopping earlier ー and increasingly on their phones. "It's not just about Black Friday anymore ー there's the day before Thanksgiving, there's Thanksgiving Day, Black Friday. Small Business Saturday was pretty big too ... It's basically a whole week at this point," Rob Marvin, associate features editor at PCMag told Cheddar on Monday. This year, shoppers didn't even wait until Black Friday to pull out their phones or jump on a computer to shop. Shoppers spent an estimated $3.7 billion online on Thanksgiving Day ー up 27.9 percent since last year ー before spending an additional $6.2 billion online on Black Friday, according to Adobe Analytics. And many of those sales were done on mobile devices. More than half ー 54 percent ー of all digital orders fielded on Thanksgiving Day and 49 percent of sales on Black Friday came from phones, according to Salesforce ($CRM). "Mobile is the headline this holiday," Rob Garf, VP of Industry Strategy and Insights at Salesforce Commerce Cloud, told Cheddar on Monday. Cyber Monday is expected to shatter records ー with an additional $7.7 billion in online sales projected, up 17.6 percent year-over-year, according to Adobe. Marvin attributes the bump in Cyber Monday sales to "bigger ticket items," like the latest in technology. "Black Friday is always bigger for clothes and gifts and stuff like that. Cyber Monday is when you should get all of your tech. There's going to be huge deals on laptops, phones ... everything from home security systems to smart light bulbs and thermostats," he said. And those deals should be pretty good. Marvin recommended shoppers look for 30 to 60 percent off the ticket price ー or just wait for a better deal. Front and center is e-commerce giant Amazon (AMZN), which is gearing up for a major day in deals. Last year, Amazon customers bought about 83 million products globally on Cyber Monday ー that's about 961 items per second. "We expect this year to be even higher than that," Amazon spokesperson Adam Sedo told Cheddar's Nora Ali Monday on the floor of a company fulfillment center in Robbinsville, N.J. Sedo said Amazon expects many of the shoppers this year to be millennials. Millennials love shopping online, especially when there's something in it for them, he added. "Actually 62 percent of millennials said they would buy a gift for themselves," Sedo said. Amazon has reason to be optimistic this year. Shoppers are migrating an ever greater amount of their business online. Even on Black Friday, a day once known for door-busting deals and elbow-throwing shoppers, more of this year's transactions were done by computer. Foot traffic to retail stores fell on Black Friday, down 1.7 percent from 2017, [CNBC reported.](https://www.cnbc.com/2018/11/24/black-friday-thanksgiving-foot-traffic-drops-1-percent-shoppertrak.html) Meanwhile, online shopping hit new highs, surging 23.6 percent year-over-year, according to Adobe. Next year, however, could be a different story. Kathryn Hopkins, senior financial editor at WWD, cautions economic concerns may squeeze Thanksgiving weekend sales next year ー making 2018 the last year for major Black Friday and Cyber Monday blowouts. "We may have some trouble for retailers next year though, because a few things are going to make consumers feel a bit nervous," Hopkins told Cheddar on Monday. She cited among her concerns rising interest rates and President Trump's trade war with China. "Trump's "threatened to put tariffs on basically everything if him and the president of China [Xi Jinping] can't come to an agreement when they meet next month," Hopkins said. "Maybe I'm being a bit pessimistic but I think we're going to have a lot more trouble. I'm not sure we're going to make a record next year."

Share:
More In Business
Crypto Prices Plummet, Wiping Out $1 Trillion In Global Value
The value of most cryptocurrencies have plummeted in recent months since reaching all-time highs in November, wiping out more than $1 trillion in value globally. The steep crash has some talking about the possibility of a crypto winter, a term referring to a prolonged bearish period where asset prices persistently fall over many months. This all comes as the Fed is expected to raise interest rates, and the Biden administration is working on an executive order to regulate Bitcoin and other assets. Josh Goodbody, COO of Qredo, joined Cheddar's Opening Bell to discuss the crypto crash, and how the industry might recover from it.
Logitech CEO On Earnings, Growth Opportunities In 2022
Logitech posted better-than-expected earnings in its third quarter, reporting sales of $1.63 billion dollars, down 2% from the year ago quarter, but well ahead of the Wall Street consensus of $1.48 billion dollars. The PC and gaming peripherals company also raised its annual guidance for both sales and profitability. Bracken Darrell, Logitech CEO, joined Cheddar to break down his reaction to the results, how the pandemic played a role in its growth, and where he wants to take the company next.
Starbucks To Report Earnings Amid Unionization Push, Labor Shortage
Starbucks is scheduled to report its fiscal first quarter 2022 earnings Tuesday, February 1 after the bell. The coffee giant is expected to report revenue of nearly $8 billion and earnings per share of 79 cents. Starbucks has seen a solid recovery in demand since the beginning of pandemic lockdowns, but is now facing a unionization push, labor shortage, and the Omicron variant. Thomas Hayes, chairman of Great Hill Capital, joined Cheddar's Opening Bell to give a preview of Starbucks earnings.
GM To Report Earnings As Chip Shortage, Production Problems Continue
GM is scheduled to report its Q4 earnings after the bell on Tuesday February 1. Wall Street expects a miss as the automaker navigates the global chip shortage, which has hit car sales hard. Investors are looking for an update on production, as well as outlook for the electric vehicles that GM is investing billions to bring to market. Karl Brauer, executive analyst at iseecars.com, joined Cheddar to give a preview of the automaker's report.
Streaming Giants Struggle to Retain Subscribers Following Big Releases
Recent data reveals that streaming giants are struggling to retain subscribers in the months following a major release. According to data from Antenna, subscriber trends show that users will subscribe to a given streaming service just to watch a particular show, and then cancel those subscriptions shortly after. This comes as the streaming space continues to heat up as new entrants crowd the space. Jon Christian, Founding Partner + Digital Supply Chain Leader at OnPrem joined Cheddar's Opening Bell to discuss.
United Airlines to Open Flight Academy amid Pilot Shortages
As airlines continues to face massive pilot shortages, United Airlines is opening a training academy for future pilots. United projects that the academy will train around 5,000 new pilots by 2030. David Slotnick, Senior Aviation Business Reporter at The Points Guy joined Cheddar's Opening Bell to discuss.
Markets Open Mostly Higher to End Wild Week on Wall Street
Stocks opening mostly higher to close out a wild week on Wall Street. It comes as investors continue to digest comments from the Federal Reserve, as well as the latest slew of earnings. Gene Goldman, Chief Investment Officer at Cetera, joined Cheddar's Opening Bell to discuss.
Load More