IBM talks about the changes observed in Thanksgiving sales pattern.
The holiday season is that time of the years that succeeds in drawing a lot of attention due to the steep discounts and lucrative deals that the retailers come up with particularly on Black Friday and Thanksgiving. According to International Business Machine Corp.’s data analytics platform Watson, it has been deduced that the online sales this annum have gone up by 26% during the Thanksgiving period in comparison to the same time the previous year. Almost 60% of the online shopping done this year is observed through online shopping via smartphones which itself is a significant change.
It has been deduced by the company that on an average consumers spent around $123.45 for each order. This clearly indicates that the online sales governed during Black Friday will surge by 14.5% on a year over year (YOY) basis. According to Watson, it was deduced that there were certain products that were actually consumer favorites. This encompasses the televisions by LG, Surface Pro 4 by Microsoft Corp., and Apple Watches by Apple Inc.
Considering the skyrocketing thanksgiving sales, it will not be wrong to assume that the Black Fridays were a bigger success this year. Mr. Erinn Murphy, the analyst at piper Jaffray was shedding lights on the preliminary data that was observed regarding the Thanksgiving sales. Consumer items and electronics were said to be the best sellers this season since the demand for these products was extremely high. It was also deduced by ChannelAdvisor that the shopping done on Thanksgiving was extremely aggressive this annum.
IBM Watson also came up with the list of the top retailers during the Thanksgiving sales and the company that observed an increase in sales by 31.2% in comparison to the previous years was Amazon.com Inc. as reported by ChannelAdvisor.
During this point of time it can be easily said that the trend of shopping online due to the convenience and efficiency these platforms offer have increased significantly. People prefer to sit back at home and shop rather than paving their way to a brick and mortar store to shop conventionally. This has ignited a lot of concerns since the population at stores is going down significantly. Many retailers that just have brick and mortar stores are extremely concerned about their business where most consumers are trying their best to pave their way online some way or the other. IBM is playing a significant role in acknowledging analysts, investors and consumers regarding the changing market trends.
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