By Tonya Garcia, MarketWatch
Target Corp., Best Buy Co. Inc. and Lululemon Athletica Inc. are among the winners from the record-breaking holiday shopping weekend, analysts say.
About 160 million people went to stores over Thanksgiving weekend, spending an average of $504, up 50% from last year, according to data from the International Council of Shopping Centers.
Online shoppers spent $4.2 billion on Thanksgiving, the first time the final tally exceeded $4 billion. Black Friday reached a record $7.4 billion in online sales, and broke the average order value record, hitting $168. And Small Business Saturday drove big business, reaching a new record $3.6 billion in online sales.
For the month of November, online sales totaled $68.2 billion, with 11 days surpassing $2 billion in online sales.
The retailers scoring big during the holiday season are those with strong multiplatform capabilities, which makes shopping convenient. Since Nov. 1, buy-online-pickup-in-store has grown 43.2% year-over-year. And more than a third of online sales (36.1%) has been done on smartphones, according to Adobe Analytics /zigman2/quotes/200389143/composite ADBE -3.41% .
“Online shopping received some unexpected boosts this holiday season,” said Taylor Schreiner, head of Adobe Digital Insights, in a statement. “Consumers are reimagining what it means to shop during the holidays, with smartphones having a breakout season as well. We expect that consumers will spend $14 billion more this holiday season via their phones.”
Nearly a third (30%) of 1,000 respondents to a Blue Fountain Media survey said they would do all of their shopping online, though just 12% plan to use voice assistants like Amazon.com Inc. /zigman2/quotes/210331248/composite AMZN -0.64% Alexa, and even fewer, 10%, plan to use virtual shopping tools, like a try-on feature.
Blue Fountain Media is a digital marketing agency owned by Pactera Company.
Raymond James was “impressed” by the traffic at Target /zigman2/quotes/207799045/composite TGT -1.90% and Best Buy /zigman2/quotes/205918291/composite BBY +1.36% stores, where gaming merchandise and televisions were hot items.
Despite the online outage at Costco Wholesale Corp. /zigman2/quotes/201191698/composite COST -0.97% on Thursday, the warehouse retailer bounced back, with analysts saying they “do not believe it materially impacted Costco’s performance over the holiday” since only 4% to 5% of the company’s sales are online.
And Walmart Inc.’s /zigman2/quotes/207374728/composite WMT +0.70% pickup capabilities as well as its delivery options, which includes in-home delivery in three cities, “position it well to take share over the holiday season,” Raymond James wrote.
Cowen analysts say Lululemon Athletica Inc. /zigman2/quotes/204011506/composite LULU -2.29% , Vans, the VF Corp. /zigman2/quotes/206706147/composite VFC -0.49% brand and off-price retailers like TJX Cos. /zigman2/quotes/203136811/composite TJX -6.46% and Burlington Stores Inc. /zigman2/quotes/203203718/composite BURL -3.36% , had a good showing in stores.
“As noted, Vans and Lululemon used little in-store or online promotions to drive robust traffic,” analysts said.