Tech Takes Over Black Friday
There has been a change in how we execute our Black Friday shopping. And no, it is not because I’d rather stay home, watch Elf with my kids, and do all my holiday shopping on Amazon. Tech is challenging the norms of traditional holiday shopping and providing what we need, when we need it most. In a time of a pandemic, it is more important than ever to transition Black Friday store-to-store shopping into e-commerce shopping. It has been seen over the last couple years that millennials are gravitating more towards Cyber Monday because of the convenience it offers; with no concern of instant gratification.
The internet has made it all possible and helped us cavemen evolve into a new era where anything can be done with technology. Where do we accredit these efficiencies? We thank the data we receive with every transaction, review, or delivery. E-commerce allows for us to tackle data and gain better consumer insights to better match the supplies to the demands.
https://spendmenot.com/blog/black-friday-sales-statistics/ found that “Black Friday 2019 saw 93.2 million buyers shopping online.” It was also evaluated that Black Friday 2019 in-store sales decreased by 6.2%.
This year, Black Friday deals largely moved digitally whether it be done through ordering online for store pick up or ordering online to be delivered to your home. 2020has seen growth in online sales, however not to the extent in which was predicted. Adobe Analytics found that United States consumers spent $9 billion in online sales on Black Friday 2020. This is almost a 22% increase from last year. The data was collected from 80 of the top 100 retailers in the U.S. and considered over 100 million stock keeping units (SKUs). The Monday, Tuesday, and Wednesday leading up to Thanksgiving produced $3 billion in online sales each day. While on the other hand, Cyber Monday online sales reached $10.8 billion in sales which was a 15% increase from last year. Due to the pandemic, it was noted that consumers started shopping for gifts earlier than ever this year… and online! Overall, there was an exceeding amount of shopping done online this year and it is all thanks to tech. Tech has made shopping more accessible and has been the shoulder to rely on when we need it most.
Now, we must be patient and wait for our packages. The demand for drivers has gone through the roof. Oh tech….please help fix the shipping world! And then I will get you software engineers for it 😉