A brand new product is refuting reports of the death of brick-and-mortars stores, suggesting the data may be greatly exaggerated.
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Holiday Insights, a dashboard unveiled by First Data, tracks real-time holiday spending trends across the U.S.
Frank Bisignano, First Data CEO, told FOX Business’ Liz Claman that data leading up through the weekend and cyber Monday suggests an uptick in both e-commerce and at retail stores.
“You’d see a double digit growth in e-commerce, but you did see mid-single digit growth in brick-and-mortar,” he said during an interview on “Countdown to the Closing Bell” Tuesday.
Cyber Monday recorded its largest online shopping day in U.S. history with sales reaching $7.9 billion, according to Adobe Analytics. E-commerce giant Amazon had its biggest shopping day in the company’s history, outpacing a record set on Prime Day earlier this year.
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Bisignano said the data from Holiday Insights revealed a surprising occurrence – last year’s shopping trend equaled today’s consumer shopping behaviors.
“The amount that was spent prior on a percent basis was very, very similar all the way through yesterday, cyber Monday,” he said. “So there was equal increases across the board.”
Bisignano said retailers should expect to see year-over-year growth as consumers reap the benefits from shopping at brick-and-mortars and e-commerce companies.
“You see consumers out in force and I think brick-and-mortar and ecommerce complement each other,” Bisignano said.
