For years, Black Friday has lost its importance. Since 2011, stores have opened their doors to Thanksgiving and havetened their holiday shopping season by competing with Amazon and other growing online threats. But the shift simply preyed on Black Friday sales. Shopping jackpots became even more dilute when stores began selling Black Friday for a full week and then that month.
The pandemic has made the Black Friday event even less important, but some experts believe that this year will also be the busiest day. Last year, retailers began offering large holiday sales in early October to expand shopping for safety reasons and smooth the peak of online delivery. They also removed the Thanksgiving in-store shopping event and pushed all discounts online. This year, retailers are adopting a similar strategy, but they are also promoting holiday discounts in stores.
Despite all the challenges, experts believe that Thanksgiving week and overall season sales will be strong.
According to Mastercard SpendingPulse, this past Monday-Sunday US retail sales were cash and checked.
Online sales are projected to grow 7.1% that week, according to Mastercard, a significant increase of 46.4% in the year-ago quarter, when shoppers collectively shifted their focus to the Internet rather than shopping directly. It is decelerating. Throughout the holiday season, online sales should increase by 10% from a year ago, compared to 33% last year, according to the Adobe Digital Economy Index.
The store launches Black Friday, but the pandemic pain lasts long | National News
Source link The store launches Black Friday, but the pandemic pain lasts long | National News