Black Friday has "evolved over the last decade into a social day," Shay said. Socializing is difficult this year, with masks and social distancing measures to prevent the spread of coronavirus, but "I wouldn't be surprised if Black Friday next year was the biggest in history," as people have a pent up demand to go out. JP Morgan study
Shay explained lower sales numbers by pointing out that holiday promotions started earlier than ever this year, and As expected, consumers continued to turn to e-commerce as more retailers brought deals online and limited store occupancy. For the first time, more than 100 million people shopped online on Black Friday, and the percentage of consumers who only shopped online over the weekend increased 44% over last year. Nearly 96 million consumers shopped exclusively online during Thanksgiving weekend, NRF found.
Online sales grow to their biggest ever every year. On average, online black friday sales have been growing by about 20% per year. This year they grew again by 20%. The real story should be that growth failed to accelerate even though in-store shopping slowed dramatically. 👎
More good news please(((