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Decoded Fashion - Weekly stories - Black Friday
Image source: thetimes.co.uk

The Black Friday shopping weekend saw 133.7 million people make purchases in-store and online over the four-day holiday weekend kicked off by Thanksgiving last week. Total revenue for the shopping weekend is expected to fall 11 per cent to $50.9 billion from $57.4 billion last year, according to the National Retail Federation’s projections.

Many shoppers took advantage of pre Black Friday sales like Amazon, who saw a 26, 24, and 46 per cent increase in sales on Thanksgiving, Black Friday and Cyber Saturday, starting its special offers a week early. Research group, ShopperTrak reported that the early introduction of promotions increased retailer traffic on Thanksgiving Day by 27.3 per cent, but reduced Black Friday’s by 5.6 per cent. Analytics firm, Retail Next found similar results and estimated in-store traffic levels fell by 12.5 per cent, and sales were down by 10.3 per cent over the weekend due to the early introduction of promotions.

Tiffany & Co., Dollar Tree Inc. and T.J. Maxx are among the brands that chose not to promote Black Friday deals in the US. Whilst in the UK, Harvey Nichols, Selfridges, Harrods and Liberty also opted-out, unlike British retailers House of Fraser and John Lewis. Instead, they created smaller promotions outside of the Black Friday banner, preferring to hold off until Boxing Day for their big sale.

Despite retailers choosing not to participate, Visa estimated that £300,000 ($568,000) was spent every minute in the UK and it expects to process 8.5 million British online transactions during the Black Friday and Cyber Monday period. Kevin Jenkins, Visa’s managing director for the UK and Ireland, said: “Black Friday has become the UK’s biggest online shopping day and we’re forecasting £518 million to be spent this year.”

Mobile was a major revenue driver for retailers this year, especially for players like Amazon and Ebay who saw up to 57% of their total traffic come from a mobile device. IBM reported that nearly 47 per cent of total online traffic came from mobile devices throughout the shopping weekend, an increase of 20 per cent from last year. The world’s largest retailer by sales, Walmart, reported that mobile was responsible for more than 70 per cent of their total online traffic during the Black Friday weekend. Apple iOS users remain to be the most valuable customers to retailers with an average basket size of $127.34 and accounting for 20.2 per cent of total online sales.

Reported by Jessica Anuna

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“The move to offer online shoppers earlier access to Black Friday deals – beginning as early as Thanksgiving Day this year – resulted in record-breaking numbers of consumers shopping on mobile, reports PayPal. Based on its online commerce data, the company reports having seen a 47% increase in PayPal global mobile payment volume on Thanksgiving compared with Thanksgiving 2013, and a 62% increase for Black Friday 2014 over last year. Meanwhile, the company also saw a 43% increase in the number of customers shopping through PayPal mobile this Thanksgiving, and a 51% increase across the same metric on Black Friday.”

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Decoded Fashion - Fashion Tech Daily - Paypal
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“Online retail sales were up 32% on Thanksgiving Day versus last year and 26% on Friday, comScore reports, just counting sales made on personal computers. Counting mobile devices, the increases would be bigger. But NRF and ShopperTrak say total retail sales were off for the holiday weekend.”

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“Carousell, a mobile app marketplace that lets sellers upload items with a few taps on their smartphones, has raised $6 million in Series A funding led by Sequoia Capital. The Singaporean startup’s existing investors, Rakuten Ventures, Golden Gate Ventures, 500 Startups, and serial entrepreneur Darius Cheung, also returned for this round, which brings Carousell’s total raised so far to $6.8 million.”

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Decoded Fashion - Fashion Tech Daily - Carousell
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“PocketMath, a Singapore-US startup specializing in mobile advertising, has landed a $10 million Series A funding round from Rakuten Ventures, the VC arm of Japanese e-commerce giant Rakuten.”

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Decoded Fashion - Fashion Tech Daily - Pocketmath
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“Wanelo is partnering with 200 brands, including Urban Outfitters and Nasty Gal, to let its users make purchases directly within the app.”

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Decoded Fashion - Fashion Tech Daily - Wanelo
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“Adobe is also paving new ways for us to engage with mobile apps by incorporating gestural techniques and ‘digital physics’ that add a great amount of dimensionality and depth to what can be done on-screen (and between screens).”

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Decoded Fashion - Fashion Tech Daily - Adobe
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“There are already a gabazillion flash sale sites and apps available, but the Berkeley, California-based founders of Peach App believe that there is still room for innovation in the world of online impulse buying. Instead of just offering discounted goods, Peach lets customers name a price for its merchandise, most of which is women’s clothing and accessories from luxury brands. The catch is that users have just nine minutes to decide whether they want to bid or not.”

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Decoded Fashion - Fashion Tech Daily - Peach
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“Of the more than 250 brands represented on Spring, most are middle-of-the-road, labels like Reformation and Vince, and almost half of the products Spring carries fall into the $100-$500 price range. Unlike a lot of other entrants into the mobile e-commerce (aka “m-commerce”) space, however, Spring also offers a deep selection of offering from the low and high ends of the fashion spectrum, from Levi’s to Carolina Herrera, putting Spring in a class virtually all its own.”

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Decoded Fashion - Fashion Tech Daily - Spring
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“Consumers are more interested than ever in using their smartphones and tablets to shop for holiday gifts, and they’re especially keen on using mobile apps, studies find.”

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