One of the most anticipated gifts of the year, the Instant Pot, was sold out on Kohl’s website already by the morning of Black Friday.
although CEO Kevin Mansell told CNBC there’s a way around which, using the retailer’s mobile app in addition to also the option to buy online in addition to also pick up inside store, shoppers might be able to snag one. Of course, which only holds true if your local store is actually still in stock.
Mansell checked his phone for CNBC in addition to also said he was still able to purchase the Instant Pot online, picking which up through a Kohl’s store in his area.
For Black Friday, the multicooker was notably marked down to $79.99 through $129.99 in addition to also included $15 in Kohl’s Cash. The Kohl’s Cash coupon allows a shopper to come back at a later date in addition to also use the $15 as they would likely cash.
Rival department store J.C. Penney was also sold out of the Instant Pot online, although discounters Target in addition to also Wal-Mart appeared to still be in stock. The device is actually also selling like crazy on Amazon.com.
Mansell told CNBC which the top three best-selling items for Kohl’s on Black Friday were the Instant Pot, a Fitbit device in addition to also the Apple Watch. Apparel was also selling remarkably well, he said, with athletic brands Nike, Under Armour in addition to also Adidas leading the way.
He added which the retail environment remains “promotional,” with competition through the likes of Amazon forcing retailers to slash prices.
For Kohl’s, the department store chain hopes to avoid a “lull” in sales after Thanksgiving weekend by relying on the Kohl’s Cash promotions, which expire after a set period of time, to lure shoppers back to stores for additional deals.
Kohl’s is actually also kicking off “Cyber Week” Saturday evening, in addition to also for once will feature the same online deals all week long across its physical stores.
“You can’t lean against the ways which consumers want to buy,” Mansell said. although he added there are still ways to drive excitement around shopping in stores.
Instant Pot is actually a leader inside multicooker category, which has ballooned 56 percent within the past year in addition to also grew 85 percent the year before, according to NPD. Over the past three years, about 5 million units have been sold.
—CNBC’s Angelica LaVito contributed to which reporting.