When it comes to online shopping, the five-day period between Thanksgiving Day and Cyber Monday was record-breaking. According to an article this morning from The Fast Company, more consumers researched & purchased products on mobile devices than ever before. Here’s a rundown of the latest statistics on the impact of mobile devices during the five-day period between Thanksgiving Day and Cyber Monday.
A good outcome. The 2.5% year over year number is above average for the year. Redbook, another weekly tracker, showed the best weekly increase since January, 2012. While there are concerns that consumers will hold back on purchases this holiday season, these numbers don’t suggest a shortfall. Trend suggests consumers aren’t worried. Nothing in this number created investor confidence concerns so consumers shouldn’t be impacted either.
Another great number. Unemployment came in below consensus range and well below average. We love the number and we love the trend. Numbers like this suggest the holiday shopping season will be good. This would bode well for 2014 advertising and marketing budgets. Given other economic numbers, we don’t see a reason to worry about a major trend shift near term and expect numbers to continue improving.
Still above long-term average and not unexpected. Short-term weakness is not surprising when the government creates uncertainty and the shut-down did that. This number bottomed in October, 2011 at 40.9. We need to see another two to three months of weakening results before trend reversal worries will start to impact C-level decisions. Right now however, retail sales numbers are stable and there seems to be extra cash in pockets to spend. Still above beginning of year numbers. Continue to focus on trends to best forecast Consumer Purchasing Confidence and Corporate Investment Confidence.