I was being generous by calling them lackluster, when in fact they were abysmal — off by 10.4%. Considering the fact that many retail stocks ran higher heading into the momentous day, investors have more than one concern now to sell them and move on.
Online shopping is all the rage again, according to Adobe. Black Friday sales surged online by 18% and are expected to gain 9% on Cyber Monday — effectively stabbing the shopping mall in the heart and leaving it for dead.
Sales on Cyber Monday were expected to finish up 9.4 percent at $3.36 billion compared with last year, according to Adobe Digital Insights. As of 10 a.m. EST on Monday, sales totaled $490 million.
Adobe collects the data by measuring 80 percent of all online transactions from the top 100 U.S. retailers. Of every $10 spent at the top 500 U.S. retailers, $7.50 goes through the Adobe Marketing Cloud sales platform.
Cyber Monday’s robust start highlights the ongoing shift within retail to online shopping. It also follows Thanksgiving and Black Friday when online sales beat estimates to increase 18 percent from a year earlier to $5.27 billion.
Of the online retailers, Amazon is easily the biggest. But even with these great numbers being reported, investors are selling down shares of AMZN.
This is a classic example of buy the rumor, sell the news.
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Why would anybody GO to a store when the deals online are the same and sometimes come out before the store? There’s simply no reason to brave the crowds to get the exact same thing. And you don’t have to getup early (extra jobless) or get punched in the face for an Xbox.
The Black Friday videos this year were WEAK! I didn’t see any worth watching. The frenzy is over. Shop on your phone and get back to stroking and choking.
“… or get punched in the face for an Xbox.” LOL! Good one! 😉
amzn stawk jockiez luv 200pe may be jumping over to nflx 300pe in mid-stream¿?
how bout that tsla ponzi?
keep buying unikornz fooz.
Some day, when I’m old, shriveled, and gray, my grandson will say to me, “Grandpa, today in school, my teacher asked us to go home and research and find out who coined the famous line, ‘Shop on your phone and get back to stroking and choking.’ Since my Wayback time machine is not working, do you happen to know?”
…and I’ll say…Marc David, and don’t forget it grandson.
That’s right. That “stroking and choking” comment by Marc David is priceless! Indeud!
^^
LOL!
And then winter arrives so the outdoor shopping experience becomes worse still. The shippers must be happy. The big box malls might be the last gasp from the dying art of driving to the store.