2017 Black Friday and Holiday Shopping Trends Hit the Market Ahead of the Official Holiday Shopping Kick-Off
It’s almost the greatest time of year but before we settle in for the holidays, we need to take time to honor the great American tradition that forces us up at insane hours of the morning after stuffing our faces with stuffing and have us heading straight to the mall. Or to our computer screens. Yes, the Black Friday (and Cyber Monday) shopping madness is right around the corner, and some industry leaders are already predicting record-breaking sales results.
In our digital age, more people are opting out on long lines in store to shop from the comfort on their home. This holiday season, according to ADI, online holiday sales are expected to reach $107.4 billion, a 13.8% increase from the same period last year. Cyber Monday is expected to bring $6.6 billion in sales ALONE. And this year, mobile sales are expected to surpass desktop sales. According to Adobe, eCommerce visits to retail sites will go up, accounting for 54% of all visits compared to 50% last year.
A recent study from RetailMeNot highlights a deal (and digital) -savvy shopper – reporting that 81% of consumers use up to six channels to find the best holiday deals and promotions. Shoppers are using multiple channels like search engines, deal and savings apps, mobile, brand apps, word-of-mouth and newspapers to find the best deals and in-stock items.
Avoid the Rush with Early Promotions
Why wait until the day after Thanksgiving to shop? Many retailers have jumped the gun and are already offering Black Friday prices at least a week in advance of the official holiday shopping kick-off. In fact, RetailMeNot reports that 52% of retailers started their promotions for the holiday season in September, and in some cases, even earlier.
Online retailers such as Amazon already have “Black Friday Countdowns” giving customers different deals and prizes everyday.
Most retailers have found that, in the past, consumers are eager to start their holiday shopping early, so this year, stores like Target, Kohl’s, WalMart, Sears and more are actively looking to kick start their promotions. In fact, some of the season’s best deals are predicted to be pushed out on November 22nd and continue through Giving Tuesday. According to ADI, the deal timeline looks like this:
- November 22 – Christmas Decor (save at least 23% on average on purchases)
- Thanksgiving – Computers, Tools, Sporting Goods, Video Game Consoles, and Apparel
- Black Friday – Appliances, Tablets, TVs, and Jewelry
- Cyber Monday – Toys
- Giving Tuesday – Furniture/Bedding and Pet Products
While only time will tell how accurate these predictions are, one thing is certain – retailers are working all angles – and channels – to secure holiday shopper revenue and customer loyalty.