It was reported by Coremetrics, that the U.S online retail sector delivered double digit growth on Black Friday 2010 compared to the same period last year. The analytics-based firm reported the following year/year trends for Black Friday:
- Consumer Spending Increases: Online sales were up a healthy 15.9 percent, with consumers pushing the average order value (AOV) up from $170.19 to $190.80 for an increase of 12.1 percent.
- Luxury Goods Make a Comeback: Jewelry retailers reported a 17.6 percent increase in sales. These affluent shoppers appear very willing to open their wallets.
- Surgical Shopping: Consumers know what they want and where to get it. People are viewing 18.0 percent fewer products on sites than they did last year, suggesting that they are shopping with a specific item in mind and quickly moving on.
- Social Shopping: Consumers appear increasingly savvy about their favorite brands’ social presence, and are turning to their networks on social sites for information about deals and inventory levels. While the percentage of visitors arriving from social network sites is fairly small relative to all online visitors—nearly 1 percent—it is gaining momentum, with Facebook dominating the space.
- Mobile Shopping: Consumers are also embracing mobile as a shopping tool. On Black Friday, 5.6 percent of people logged onto a retailer’s site using a mobile device, a jump of 26.7 percent compared to the prior Friday.