Alibaba has already racked up more than $1 billion in sales and more than $5.2 billion in the first hour with more than 84% of sales on mobile devices. 2015 Singles Day sales were $14.3 billion in China for one day alone. compared with a $5.8 billion in US Black Friday/Cyber Monday sales.
Dick's Sporting Goods absorbs Golfsmith, 60 US stores will close. Watch and accessories retailer Fossil will close some of its 610 international stores the numbers have not yet been released. Office Depot continues plans to close 300 stores over five years including 65 in 2016 Q4. American Apparel may be planning a second bankruptcy after missing a $2.5 million payment to creditors. Performance Sports Group, maker of Bauer hockey and Easton baseball gear, announced bankruptcy plans.
According to Deloitte research, holiday sales may reach $1 trillion, online $96 billion and digital may influence 67% or $661 billion. In the UK, mobile holiday sales will reach more than 50% of sales for the first time says a Salmon research report.
TechinAsia compares China's Singles Day 2015 sales of $14.3 billion with US Black Friday/Cyber Monday sales of $5.8 billion. Alibaba announced the promotion will run for 24 days instead of one day. Last year's Singles Day sales for Alibaba alone totaled $13.5 billion, up 54% from the previous year, and this year they expect 40,000 global companies to participate.
Leading into the critical US holiday shopping season, we've got our latest look at the e-commerce and retail news roundup. It starts with Adobe's 2016 Digital Insights Shopping Predictions for $91.6 billion in total sales and $1 billion online. According to McKinsey, 39% of US and 42% of UK shoppers will do the majority or all their shopping online this year.
We start with a report from eMarketer predicting e-commerce sales of $14 billion in 2016 for the region. Criteo says consumers used smartphones to complete the majority of mobile transactions in every Asia-Pacific market for the first time. Indonesian consumers used smartphones in 83% of transactions.
Holiday sales predictions? Adobe Digital Insights predicts 2016 online sales will be up 11%. 55% of US and UK retailers say Amazon will drive the majority of their holiday sales this year according to research by ChannelAdvisor and Morar Consulting.
The National Retail Federation said US e-gift card sales reached $7.1 billion in 2015, up 26%. Retail Gift Card Association said 45% of consumers will spend more than the value of their gift card.
Cashback for consumers is still one of the most effective promotional strategies in the marketers' toolbox. We've got an update on the latest cashback programs, companies and how they're wooing consumers to buy.
What's happening in the UK economy and how are consumers and business responding to the eventual departure from the EU? As you might expect, it depends. We're here with an update on Brexit's impact to help you make sense of what's ahead.