Cyber Monday sales might not be enough to save retailers


Holiday sales are booming online — but it’s not clear whether that will be enough to offset increasingly sluggish traffic that’s plaguing shopping malls and retail stores nationwide.

Cyber Monday spending was estimated to reach a record $7.8 billion — an 18.3-percent spike from a year ago, according to Adobe Analytics — as shoppers increasingly turned to their phones to pounce on deals for everything from gaming consoles to cashmere sweaters.

That made Monday the biggest-ever single day for online shopping by most reckonings. Enthusiasm on Wall Street pushed shares of Amazon — which accounts for nearly a third of online holiday spending — surging 5.3 percent on Monday, to close at $1,581.33.

Nevertheless, mall traffic during Thanksgiving weekend was down by most estimates — leaving it an open question whether retailers will see a blowout Christmas.

“We are calling it a very good season, but not a great one,” Craig Johnson, president of Customer Growth Partners, told The Post.

CGP estimates that retail spending this holiday will rise 5.1 percent, compared with a 5.3 percent lift in 2017.

The problem: Traffic at the worst-performing shopping malls — those that typically are older and house lower-end retail chains — is down as much as 10 percent this month, according to CGP.

Meanwhile, second-tier “B malls” that typically have a Macy’s, a JCPenney and a Sears — but not a Neiman Marcus, a Saks Fifth Avenue, or a Tiffany — are down by about 3 percent, according to the firm. The so-called A-malls that do have upscale stores will post modest growth, Johnson predicts, resulting in an overall mall traffic decline of 2 percent.

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