Black Friday sales touches $8.9 billion

This year, U.S. shoppers spent slightly less on Black Friday sales, with many shoppers visiting physical stores despite coronavirus fears, midst retailers’ efforts to encourage pre-holiday shopping.

For the very first time, online spending during Black Friday, which traditionally is one of the biggest shopping event of the year, fell on a year-on year basis reversing growth of recent years, according to data from Adobe Analytics, a wing of Adobe’s business that specializes in data insights.

Midst COVID-19 fears, retailers have lured shoppers to shop online with sales started as early as September.

Supply-chain issues have prevented retailers from quickly replenishing year-end merchandise.

According to Adobe, the total outlay by shoppers for online sales for Black Friday was around $8.9 billion, compared to $9 billion in 2020. Shoppers spent $5.1 billion in online shopping during Thanksgiving Day, said Adobe.

Midst the coronavirus pandemic and labor shortage, many retailers had closed their physical stores on Thanksgiving this year. They reopened a day after Thanksgiving, resulting in a 47.5% jump in footfalls, compared to last year, but down by 28.3% when compared to 2019, according to data from Sensormatic Solutions.

This year saw an increase in online purchases compared to in-store pick up, keeping shipping costs down.

According to Shopify, the number of shoppers on its platform who used smartphones to make purchases jumped to 72%, up from 67% from last year.

The move by retailers to encourage buying holiday gifts earlier is also likely to trim Cyber Monday sales.



Categories: Creativity, Economy & Finance, Entrepreneurship, HR & Organization, Strategy

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