Black Friday is very close, as it is only a few days away, which is a clear indication that the holiday season is upon us. Holiday surveys have continued to indicate that retail will be on the rebound this holiday season.
All indicators show that retailers and more so consumers are looking forward to making some significant purchases this year. Common predictions include:
Cyber Monday Sales Will Grow by Up to Forty-Seven Percent
Looking at the same period last year, consumer spending is this year expected to grow by up to forty-seven percent. Latest surveys indicate that consumers will on average spend around seven hundred and forty-three dollars, in the period between Friday and Cyber Monday.
It is an increase from last year which saw many people spend an average of five hundred dollars. Additionally, seven out of every ten people will take part in this year’s Black Friday and Monday shopping weekend.
Cyber Monday Sales Are Expected to Surpass Those of Black Friday in 2017
Since inception, the popularity of this day has continued to increase with each passing year. It has become a big global shopping event that everyone wants to be a part of.
Statistics indicate that about fifty-six percent of all web-based shoppers will take part in the event this year. This is a significant increase, given that only thirty-nine percent of internet shoppers took part in the same event in 2016.
Cyber Monday recorded the best record sales compared to Black Friday. This shows a continuous trend where Monday is now becoming a shopping favorite for many consumers, especially individuals who do not want to be caught up in the long queues recorded at the shopping outlets.
Retailers Are Expected to Extend the Black Friday Deals Over a Fourteen Day Period
Compared to previous years, the shopping season this year is expected to be relatively long. The deals will come early and will be around much longer.
Certain consumers are intent on beginning their shopping as early as the November 1st. Retailers should, therefore, be keen on capturing the anticipated increase in customer spending. Holiday promotions are thus expected to begin much earlier this year. Additionally, most retailers will invest more money in promoting their holiday initiatives than they have done in past years.
Even though many consumers now prefer to shop online, e-commerce stores with physical stores should still capitalize on their brick and mortar locations. Some customers still value the in-store experience, and will, therefore, be headed to their favorite stores to check out the latest deals.