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December 15th, 2016

Black Friday 2016: How Retailers Stayed on Top

The news is out! “Black Friday became the first day in retail history to drive over one billion dollars in mobile revenue at $1.2 billion, a 33 percent growth year-over-year.” How retailers fared during Black Friday and Cyber Monday this year most likely depends on how well they have mastered their mobile strategies. In fact, “data from analytics firm RetailNext showed net sales at brick-and-mortar stores fell 5.0 percent over the two days, while the number of transactions fell 7.9 percent.”

This increase goes to show that the investments many retailers have made in their mobile experience are essential to keeping up with the growing expectations of consumers. It has allowed those retailers to not only compete on price, but more importantly convenience and experience. It lets consumers shop when, how, and where they want, which is especially important during the holiday season.

Consumers today don’t just want a good experience in the store, on the web or on their mobile device separately; they want their experience to be the same across channels. While sales in brick-and-mortar stores may have decreased, traffic in stores has gone up. 57% of adults actually visited stores and/or shopping centers on Thanksgiving Day and/or Black Friday, up from 51 percent in 2015. And among those who used a mobile device while shopping, 80% bought items in the store. This huge shift in the industry has retailers beginning to understand the massive potential of enhancing in-store experiences through existing mobile applications, in addition to using them as off-site ecommerce platforms. Mobile has the ability to make the in-store shopping experience more welcoming, personalized, empowering, convenient and relevant. In essence, mobile in-store experiences can deliver the best of the digital shopping experience within the context of the physical world.

These holiday season shopping trends just highlight what will continue to occur over the next 12-24 months. And the pressure will continue to be on retailers to adopt new ways of serving consumers in context of where they already are. To join the conversation and learn more about how mobile is transforming the In-Store shopping experience; make sure to attend our upcoming session at NRF’s Big Show in January, “Are Retailers Meeting the Mobile Needs of Customers? Global Study Says No.” In this session, DMI will shed some light on how retailers can profit from the billions of devices coming through their doors every year. Through our global research, we will reveal the top features consumers expect, which retailers are leading the way, and the biggest opportunities in 2017.

Tags: Black Friday cyber Monday events mobile NRF retail

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