US Black Friday, Thanksgiving online sales climb to record high

CHICAGO - Black Friday and Thanksgiving online sales in the United States surged to record highs as shoppers bagged deep discounts and bought more on their mobile devices, heralding a promising start to the key holiday season, according to retail analytics firms.

US retailers raked in a record $7.9 billion in online sales on Black Friday and Thanksgiving, up 17.9 percent from a year ago, according to Adobe Analytics, which measures transactions at the largest 100 US web retailers, on Saturday.

Adobe said Cyber Monday is expected to drive $6.6 billion in internet sales, which would make it the largest US online shopping day in history.

In the run-up to the holiday weekend, traditional retailers invested heavily in improving their websites and bulking up delivery options, preempting a decline in visits to brick-and-mortar stores. Several chains tightened store inventories as well, to ward off any post-holiday liquidation that would weigh on profits.

TVs, laptops, toys and gaming consoles - particularly the PlayStation 4 - were among the most heavily discounted and the biggest sellers, according to retail analysts and consultants.

Commerce marketing firm Criteo said 40 percent of Black Friday online purchases were made on mobile phones, up from 29 percent last year.

No brick-and-mortar sales data for Thanksgiving or Black Friday was immediately available, but Reuters reporters and industry analysts noted anecdotal signs of muted activity - fewer cars in mall parking lots, shoppers leaving stores without purchases in hand.

Stores offered heavy discounts, creative gimmicks and free gifts to draw bargain hunters out of their homes, but some shoppers said they were just browsing the merchandise, reserving their cash for internet purchases. There was little evidence of the delirious shopper frenzy customary of Black Fridays from past years.

However, retail research firm ShopperTrak said store traffic fell less than 1 percent on Black Friday, bucking industry predictions of a sharper decline.

“There has been a significant amount of debate surrounding the shifting importance of brick-and-mortar retail,” Brian Field, ShopperTrak’s senior director of advisory services, said.

“The fact that shopper visits remained intact on Black Friday illustrates that physical retail is still highly relevant and when done right, it is profitable.”

The National Retail Federation (NRF), which had predicted strong holiday sales helped by rising consumer confidence, said on Friday that fair weather across much of the nation had also helped draw shoppers into stores.

The NRF, whose overall industry sales data is closely watched each year, is scheduled to release Thanksgiving, Black Friday and Cyber Monday sales numbers on Tuesday.

US consumer confidence has been strengthening over this past year, due to a labor market that is churning out jobs, rising home prices and stock markets that are hovering at record highs.

source: news.abs-cbn.com

Black Friday rush

Shoppers rush to buy appliances as they compete for items on sale during the Black Friday sale at a store in Sao Paulo, Brazil on Thursday. The Black Friday sale is part of the Thanksgiving holiday weekend in Western countries.

source: news.abs-cbn.com

US shoppers browse stores, buy online as Black Friday deals beckon

CHICAGO/NEW YORK - US stores offered deep discounts, entertainment and free gifts to lure bargain hunters on Black Friday, the traditional start of the holiday retail season, but some shoppers said they were just browsing the merchandise, reserving their cash for internet purchases.

Still, a sharp rise in online sales brightened the overall outlook for those traditional retailers that have expanded beyond brick-and-mortar outlets, sending their shares higher in day-after-Thanksgiving trading. Stores also had carefully managed inventory, seeking to ward off any post-holiday liquidation that would weigh on profits.

There was little evidence of the delirious shopper frenzy customary of Black Fridays from past years, even as some stores appeared to be getting creative with gimmicks besides heavy discounts to draw in customers.

No actual data for Friday's brick-and-mortar business was immediately available.

Despite anecdotal signs of muted in-store sales - fewer cars in mall parking lots, shoppers leaving stores without purchases in hand - consumers are still expected to spend more overall this holiday season than last, analysts and industry executives said.

Black Friday online sales totaled at least $3.54 billion by 8 p.m. EST (0100 Saturday GMT), up 15.6 percent from a year ago, according to Adobe Analytics, which measures transactions at the largest 100 U.S. web retailers. On Thanksgiving Day, U.S. shoppers spent more than $2.87 billion online.

Adobe projected internet sales would still reach a record $5 billion by the end of the night, with online retailers forecast to rake in an additional $6.6 billion on Cyber Monday.

Indeed, some chains struggled to keep up, with brief online outages experienced by Lowe's, H&M and the Gap, among others, according to website performance monitors.

Macy's Inc customers in several states, including Texas, Arizona and Illinois, took to social media to complain about the retailer's credit card processing system. The company acknowledged that processing was taking longer than usual in its stores and said it was working on the problem.

The hiccups dragged Macy's shares 0.6 percent lower in extended trading. They had ended the regular session up 2.1 percent, boosted by comments from Chief Executive Jeff Gennette, who told CNBC that Macy's was better off this year than last, had robust online demand and was in a good place for holiday promotions.

Macy's and J.C. Penney Co Inc did a better job of ordering and controlling inventory this time, according to Burt Flickinger, managing director of Strategic Resources Group, a consultancy with seven researchers out in the field.

"The turnout this morning has been relatively slow, but it is still the best we have seen in three years," Flickinger said, citing improving consumer confidence, a strong job market and healthy housing prices.

Fair weather across much of the nation also was factor, said National Retail Federation President Matthew Shay.

Some shoppers were enticed by the promise of spectacle, while others felt the pull of nostalgia.

"It's like a hangout, it's an experience," said Jonathan Lin, 17. "All my friends are back from college and we got together."

"There’s something nostalgic about being at the stores this early,” Jennifer Stasiak said at Chicago’s popular Oakbrook Center.

Not everyone found the Black Friday magic irresistible.

“I avoid the store, too many crowds,” said Elana Silverstein, 32, a school counselor enjoying a warm, sunny day at a Los Angeles park. Instead, Silverstein said, she bought several personal items on sale Thursday night through the online marketplace Groupon.

Major retailers generally traded higher on Wall Street. J.C. Penney climbed 0.6 percent and Wal-Mart Stores Inc edged upward. Amazon.com Inc closed up 2.6 percent at a record high.

Target Corp did not fare as well, with analysts noting that it closed its stores for several hours overnight while many rivals kept their doors open. Its shares fell 2.8 percent.

NOT WHAT IT USED TO BE

The period between the US Thanksgiving holiday and Christmas can make or a break a retailer, accounting for as much as 40 percent of annual revenue and leading many businesses to go the extra mile to stoke shoppers' interest.

Godiva gave out free chocolates, while Sephora offered face masks and perfumes. Dancers entertained Bergdorf Goodman shoppers, according to the New York Post.

Many chains, including Wal-Mart, Target, Macy's and J.C. Penney, opened stores on Thursday evening and most were offering extended deals online. Some started offering in-store deals earlier this week.

Macy's said some 16,000 shoppers were lined up outside its flagship Herald Square store in Manhattan when doors opened at 5 p.m. on Thursday for its Black Friday eve sale.

The deepest discounts included more than $200 off some Best Buy TVs; all bras across Victoria's Secret Pink stores priced at $25; half-priced video games at Target; and $50 off PlayStation 4 Pro gaming consoles at Wal-Mart.

Here and there were signs of the pandemonium for which Black Friday was long known.

A confrontation between two men in the parking lot of Willowbrook Mall in Houston left one shot and the other stabbed, though the origins of the clash and whether it was shopping-related was not immediately known, police said.

A false report of gunfire prompted shoppers to flee the Westland Mall in Hialeah, Florida. Stores reopened less than an hour later, a mall security supervisor told Reuters by phone.

Near Birmingham, Alabama, police broke up a fight on Thursday night between two women who may have been arguing over a sale item at the Riverchase Galleria, mall officials said.

The growing online shopping trend, led by Amazon, has forced the toy chain Toys R Us and apparel retailers True Religion, the Limited, Rue 21 and Payless Shoe Source to file for bankruptcy this year.

Still, traditional retailers earn the bulk of their revenue from in-store buys. Shoppers in brick-and-mortar stores can also be easier to tempt with impulse or add-on purchases than online browsers.

Garden State Plaza in Paramus, New Jersey, was crowded but not chaotic. Shoppers came for deals with nothing specific in mind. Many enjoyed the experience of trying on clothes rather than shopping online.

A Macy's employee there said it was less busy on Friday because the store had been open, and packed, on Thursday.

"They’re all online," said Sarah Jones, 42, an employee at Roosevelt Field Mall on Long Island. "I’ve worked in retail my whole life, trust me."

source: news.abs-cbn.com

How to find good bargains in bazaars

MANILA, Philippines - Whenever we want to shop for bargains, bazaars – better known as tiangges -- always come to mind.

Ubiquitous during the holiday season, bazaars are popular for offering a wide array of products, many of which are usually hard to find in malls and stores. Homemade goods, handicrafts, artisanal delights, farm goods and delicacies from distant provinces, as well as export overruns and cheap knock-offs are usually sold here.

Although there are tiangges in operation throughout the year, there are also a small number that sprout only during the holiday season to take advantage of the shopping rush. Usually, these are found in residential subdivisions.

More than the goods, what makes bazaars so attractive to many shoppers is that haggling can be done freely with the tiangge owners. That means you can get away with good deals — even as low as 50 percent off — if you know how to negotiate well.

Although bazaars are known to be a bargain hunter’s paradise, you can still blow your budget if you aren’t careful. Here are some tips to help you make the most of your bazaar shopping expedition:

Have a shopping list.

The easiest way to overspend is to shop without a plan. If you are buying gifts, make sure you have a ready list of recipients indicating a budget for each. This way, you can stay within your spending limit.

Check out mall and online prices beforehand.

Sometimes, what looks like a good bargain might turn out not to be so. This is why it’s good to have an idea of how much items sell in brick-and-mortar and online stores before you hit the bazaars. You’ll be surprised – some items being sold in bazaars may be on sale in regular stores, and at lower prices.

Compare prices from stall to stall.

Resist the urge to buy from the first stall you visit. Do a quick reconnaissance to find out the prices of similar items in different stalls. Prices can greatly vary among them so checking out the lay of the “shopping land” really helps you find best bargains.

Haggle, haggle, haggle.

Bazaars are a haggler’s haven. Do not hesitate to ask the seller for a discount, especially if you are buying items in bulk. Sellers are also happy to extend discounts to repeat customers. Don’t hesitate to ask for more--the merchant may just be too happy to oblige.

Examine items closely.

Unlike regular stores which have customer service departments, bazaars are temporary stores that you may not be able to locate after a certain period. This is why you should check the items thoroughly for any possible damages before making a purchase . Ask about their return policy, and ask for a receipt or a proof of purchase to facilitate a possible exchange.

Stick to small, inexpensive items.
Because they are not regulated, bazaars may not be the ideal place to purchase large-ticket items, especially those that offer a warranty. If you’re looking for gadgets or goods that require after-sales service, get these from the authorized dealers that can offer and honor the warranty and provide follow-through services.

Buyer beware.
Due to their unregulated nature, there is no guarantee that the merchandise in bazaars have gone through and passed requirements such as quality control. For example, Christmas lights and electrical items may not have gone through safety checks. Similarly, if you are looking for designer items, you may be better off going to department stores where the authorized dealers are located.

Check your money.

Since most bazaars do not use cash registers, you are often left at the mercy of vendors who may make mistakes in computing your bill. Do a parallel computation and check your items before leaving to ensure that no mistakes are made. A wise alternative is to use your credit card where plastic is accepted to lessen the use of cash.

Timing counts.

The time of purchase often determines the size of the discount. If you’re buying gift items in the run-up to Christmas, expect prices to be high. If you shop on the last day or last few hours of a bazaar, though, many merchants may be happy to hold a clearance sale. Similarly, you can probably get big discounts if you do your shopping after the holiday season.

Happy bargain hunting!

source: www.abs-cbnnews.com

5 Store Credit Cards That Can Really Pay Off in Savings

"Would you like to save an extra 10 percent today?"

We've all been offered store credit cards in exchange for an instant discount. For years, my answer was an automatic no. Who needs all those extra cards cluttering up their wallet ... and their credit report?

But it turns out that some of these cards really can be worthwhile for frequent shoppers, with many offering extra savings, lots of rewards, and perks like free shipping on online purchases.



Good credit, plus the ability (and discipline) to pay the bills in full each month, are the key to getting the benefits out of these cards -- otherwise their higher interest rates will quickly erase the savings. And even if you possess both of those attributes, you don't want to go crazy signing up for store cards; it's best to choose just one or two from stores you shop at often enough to rack up real savings.

So if, like me, you find yourself at Target (TGT) every weekend, are all too familiar with Amazon's (AMZN) one-click buying option, and have kids who outgrow their Old Navy jeans every six months, then consider these store-branded card options.

Note: Credit card companies are wily, and sometimes offer different deals to different customers, depending on factors like whether you're a current customer or how often you visit the store's website. The information below is based on the offers we received; if you see less favorable offers, give the company a call and ask for the better deal!

source: dailyfinance.com