When you think of Black Friday purchases, Instant Pots and flat-screen TVs probably come to mind before $500 Prada sneakers and $1,000 Jimmy Choo boots, but Yoox Net-A-Porter’s Thanksgiving weekend sales proved that even the spendiest shoppers appreciate a good discount.
The luxury fashion retail group kicked off America’s biggest shopping holiday of the year with up to 50 percent off at Net-A-Porter, plus extra bargains at The Outnet, Mr. Porter and Yoox. According to the data the group collected over the weekend, it processed one order every 0.7 seconds on Black Friday, putting its total volume for the day at nearly 125,000 orders (not bad when you consider the most expensive individual item purchased over the weekend was a diamond necklace worth £54,000, or about $69,000).
Fashion was the most-shopped category over the weekend, according to the National Retail Federation, which found that 165 million Americans participated in the holiday.
Mirroring the overall trend toward mobile shopping that Adobe Analytics noted for the weekend, the popularity of YNAP’s apps shot up over the holiday, with Yoox registering nearly 100,000 new downloads and Mr. Porter clocking a 40 percent increase during Cyber Weekend (as some retailers have begun calling the holiday now that it extends from before Thanksgiving until Monday or beyond). Particularly successful items included statement eveningwear (no surprise with holiday party season almost afoot), outerwear and exclusive capsule collections.
Yoox also sold 3,500 pieces of its AI-enhanced private-label footwear and apparel collection, 8 by Yoox, the company said.
After consumer spending topped estimates across the board over the weekend, but particularly online, retailers will be waiting to see whether shoppers keep up the trend now that mega discounts are easing.