2019

Simplr® CXLife Today

English - December 03, 2019 10:42 - 3 minutes - 3.12 MB - ★★★★★ - 31 ratings
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Previous Episode: REI Opts Out Of Black Friday To Go Outside -11/29/19

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From the Simplr studios in San Francisco, this is your daily briefing.

With your Retail E-Commerce Briefing for today, Tuesday, December 3rd, I'm Vincent Phamvan.

Introduction

Though some doubted these two retailers would survive in the age of Amazon a few years ago, they headed into Black Friday Weekend as two standouts in retail.

First, here are some retail headlines.

Peloton Stock Up 21% Since IPO

Peloton faired well this Black Friday. The company gained almost 10 percent, hitting a record of $35 dollars a share after KeyBlanc said the fitness company saw strong traffic on Black Friday. The startup’s initial public offering fell flat two months ago, but the stock is now up about 21 percent from its IPO price of $29 dollars.

Consumers Did More Mobile Shopping Than Ever on Black Friday

According to Salesforce, consumers did more mobile shopping this Black Friday than ever before. With social media shopping capabilities and retail apps, digital sales grew 17 percent to $4.1 billion this year. Mobile orders increased 35 percent on Black Friday this year, with 65 percent of all e-commerce flowing through a mobile device. Adobe Analytics called Black Friday quote “the biggest day ever for mobile” end quote, tracking almost $3 billion in sales from smartphones alone.

Cyber Monday Shoppers to Spend Record $9.4 Billion

Cyber Monday shoppers are on track to spend a record $9.4 billion dollars this year. Consumers had already dropped $473 million early this morning, on track for an almost 19 percent increase over last year. According to Adobe, big e-commerce players like Amazon will benefit the most from the surge in sales. Black Friday also hit a record $7.4 billion in U.S. online sales, the second-biggest U.S. online sales day ever, behind 2018 Cyber Monday’s $7.9 billion.

Two Retailers Standout in Age of Amazon

In the age of Amazon, many thought retailers like Best Buy and Target would wither away. Instead, they’ve proved critics wrong and became two standouts in retail as they headed into Black Friday weekend. Both companies set themselves apart from competitors and emphasized their stores as the center of their strategies. According to an analyst from R5 Capital who has followed the companies closely, “People thought Best Buy was going to die...With Target, there were so many doubters about if it would survive in the Amazon world. People thought it would wither away.”

Target’s shares, which have nearly doubled in price in the past year, hit an all-time high last week after the retailer reported impressive sales and profits this past quarter. Best Buy has reported strong sales for the past two years and continues to grow as the only remaining player left in consumer electronics. In the past few years, both companies have spruced up their stores, overhauled supply chains, upgraded their websites, and implemented fast shipping. They’ve also leaned into what sets them apart from their competitors. For Best Buy, offering expert advice, and for Target, its affordable clothing, home goods, and private-label brands.

Closing

Thanks for listening to this latest episode of the Retail E-Commerce Briefing. Don’t forget to subscribe and leave us a review. Until next time.