How Black Friday changed our shopping behavior
2 min read
2 min read
What started as a relatively humble activity to increase sales the day after Thanksgiving in 1952 has evolved into a massive marketing frenzy. By the mid 2010’s sales reached over $50 billion in the U.S. alone and by now Black Friday has become one of the most important days for shopping around the world.
Not only since Covid-19 online shopping has seen a massive growth – in the U.S. online sales have almost tripled in the last year and there is no end in sight.
As many people have moved to working from home they also shop from home. A whopping 70% of customers prefer not the enter physical stores for the foreseeable future but are planning to spend 20% more this Black Friday, online shops are going to enjoy an even higher growth at 30%.
As the sales increase so do the site visits. The top retail websites enjoy a heavy increase in page visits over the past year, although the number in October 2020 went slightly down, maybe in anticipation of Black Friday.
However, the overall shopping experience is key to channel traffic and therefore revenue to an online shop. As customers turn increasingly towards mobile phones for shopping, the actual time spent on a web shop decreases. A well thought-out digital transformation strategy and a user-friendly mobile site or mobile are therefore key in order to grow sales.
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