Wal-Mart Stores (NYSE:WMT) and Target (NYSE:TGT) seem quite happy with the generated sales during the Thanksgiving sales traffic, with consumers focusing on big-ticket electric and electronic items.
Neither of the two have released any official figures to confirm this. However, they have claimed quite vehemently they have had throngs of shoppers coming to their stores.
Amongst a few others, Wal-Mart Stores (NYSE:WMT) and Target (NYSE:TGT) started of the sales season a little earlier than usual. The Black Friday sales were initiated on the eve of Thanksgiving Day. This was to enhance the already failing sales and revenue figures. Both the retailers have released figures in the past that point to their failure to meet sales and revenue targets.
Both retailers claimed to have done equally well in terms of online shopping platforms as well. Target (NYSE:TGT) has gone on to claim that this term has been their best so far in terms of sales made on the e-commerce site. Wal-Mart (NYSE:WMT) has also stated that this term’s online sales generated the best results ever.
As per the statistics revealed by Wal-Mart (NYSE:WMT), over 22 million customers shopped between 6pm and 10pm in the store, on the first eve of sales day. This is quite an accomplishment when compared with last year’s 10 million.
The top selling products included tablets, televisions, videogame products, sheets, and children clothing range at Wal-Mart (NYSE:WMT). Among other top sellers were Disney (NYSE:DIS) Frozen’s Elsa doll, food containers and towels. Among the online top selling products, baby items and prepaid phones topped the list.
Customer complained that the top selling items went out of stock earlier than expected, forcing them to go elsewhere to pick an item. While there were items still available online, it is not as satisfying to shop in the physical store.
Target (NYSE:TGT) has claimed that its mobile devices ensured good sales figures. The online shopping trends exceeded expectations and beat last year sales by 40% increase. The top selling items at the retailer were iPads, Beats by Dre headphones, Nikon L330 camera, Dyson Allergy Vacuum and PS4 Bundle.
The top selling products in store were Element 40 inch television and Xbox One. A whooping 1800 televisions and 2000 videogames were sold per minute at Target (NYSE:TGT) stores.
Over 500 people gathered outside the East River Plaza branch of Target (NYSE:TGT) in New York City for the stores to open up with discounts and offers at place. It was quite a family affair and people enjoyed the wait with friends and family. Target (NYSE:TGT) had stepped ahead of other retailers and started to sell at sale prices on Wednesday, so much so that the last year’s figures were tarnished within a few hours of store opening.
Retailers J.C. Penney Co. (NYSE:JCP) and Macy’s Inc. (NYSE:M) that started their Thanksgiving sales, just last year opened for business on sale day at 5pm and 6pm. Kmart and Sears (NASDAQ:SHLD) also opened at 6pm the same day.
Nearly 140 million people are expected to shop during the holiday weekend.