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The numbers are in and Black Friday 2010 looks to have been a triumphant success for retailers and perhaps an indication of happy times ahead for the economy over this holiday period.
Online sales benefitted significantly. Sites across the board reported a 15.9% increase in sales from the U.S., with consumers pushing the average order value to $190.80 from $170.19, according to Coremetrics, an IBM company.
The conversion rate -- or the number of shoppers who made purchases in retail outlets offline -- was up 4% over last year on the same day, according to findings by market research firm NPD Group.
"To see growth of 4% over the year before tells us two big things,” NPD Group Chief Industry Analyst Marshal Cohen said. "One, is that those people that went to shop, bought; and two, is that the retailers did a better job of luring consumers in with big deals and great savings."
Bookmaker.com, an online gambling website, had been featuring odds on Black Friday and reported to Gambling911.com that they witnessed “modest action”. Typically Bookmaker.com caters to high end sports bettors but in recent months has made an aggressive push into the entertainment and business betting sector.
Bookmaker.com had offered odds on which of the following retailers would generate the most sales: Wal-Mart(WMT_), Target(TGT_), Sears(SHLD_), Amazon(AMZN_), Kmart, Best Buy (BBY_)and Macy's(M_). The outcome was not immediately clear as of Saturday, the day after Black Friday 2010.
- Aaron Goldstein, Gambling911.com
