Black Friday traditions of long queues, a little pushing and shoving, and getting up at 4:00 a.m. to get the doorbuster deals may be out of date this year, as more shoppers go online. Last year’s Cyber Monday set an all-time record, according to Adobe Digital Insights, with a record of $3.34 billion in sales, and this year’s online Cyber Monday sales are likely to be even bigger as retailers refine their online strategies.
Consumers will be opening their wallets more this year, with a significant increase over last year’s spending. This year, consumers will spend an average of $743 on holiday shopping between Black Friday and Cyber Monday, compared with $505 last year, and retailers are readying their deals to get their share.
This year’s Black Friday weekend will see combined in-store and online sales increasing 47 percent over last year, according to a RetailMeNot survey, making this a big win for retailers. But those retailers who still stubbornly relegate the online channel to an “also-ran” will lose out big-time. Traditional retailers will do well to take a lesson from last year’s losses, such as Macy’s – which took a big loss when their website suffered a major disruption on Black Friday.
The RetailMeNot survey showed that online shopping is on the increase, with 39 percent of shoppers making purchases on Cyber Monday in 2016, with a predicted increase to 56 percent this year.
Retailers are beginning to see the light, with 58 percent planning to make online shoppers their primary target this year, so shoppers may want to look online for those big doorbuster deals before heading out in the cold at 4:00 in the morning this year. According to the survey, 81 percent of shoppers look at multiple channels before making a holiday purchase, rather than simply walking in the front door of their favorite retailer. Most shoppers realize that looking at search engines, deal apps, mobile websites, retail apps, as well as newspapers and word-of-mouth sharing will help them find the best holiday deals.FOLLOW NEWSORG.ORG ON SOCIAL MEDIA