Black Friday and Cyber Monday is a term that is used by the US on thanksgiving days and these are the days on which people buy more and more. The markets have the best in these days and their selling rates increased, which help their companies. One of the biggest shopping days of the year Black Friday fell reversing the growth in recent years, because of corona fear but before corona, black Friday are the days when there have been bestselling of the year but now in this coronavirus era the selling and buying rates go down which badly affect the companies. This was recently reported by adobe analytics, which specialized in data analysis and tracks transactions at top US retailers.
However, some of the US shoppers spent less time online shopping during black Friday days and visit the shops by themselves despite the coronavirus.
Retailers want the shoppers to spend more time on online shopping as early as September because the total outlay of online shopping during Black Friday was 8.9$ billion less than the 9$ billion in 2020. If the shoppers do not spend, much time on online shopping then their supply chain will affect and which will automatically decrease their selling rates.
As the reports say during the thanksgiving days the estimate was about 5.1$ billion. During this time 2020, the shoppers stayed at home because of corona fear, which reduces the rate of online shopping. And also the online shopping rates were reduced due to the corona fear, many of the shoppers didn’t come to shops whether they prefer to stay at home and do online shopping so that they don’t get the coronavirus.
When the shops were reopened the day after thanksgiving, the visitor’s rate increased by 47.5% as compared to 2020 but fell by 28.3% as compared with 2019 according to the Sensormatic solution. After reopening the shops the visitors come but their rate is decreased as compared to the previous year because of online shopping many shoppers prefer online shopping rather than coming to shops.
But some people do come to shops and when many shoppers visit the shop and buy what they want it affects the shipping cost because of pandemic shipping delays the shoppers prefer to visit the shops to buy what they want which increase the chances of securing gifts for Christmas.
As many shop keepers gave flexibility to the shoppers that they can either buy online or pay a visit to their stores for example the Macy’s, Walmart, Target, and Kohl’s they gave the flexibility to their shoppers, which make them the winner on Black Friday, Chairperson of investor Navellier and Associates reported this.
For online shopping, it is obvious, that people will definitely use their smartphone has to do online shopping, which also gave great benefit to the markets, which gave the online service to their consumers. Many people purchasing online use their smartphones as the Canadian e-commerce company said that the online purchasing through their platform has been increased this year from 67% to 72%.
Retailers mostly encouraged the buyers to buy holidays gifts earlier, which effect Cyber Monday, the first Monday after thanksgiving. Mostly the Americans do their shopping as early as October and according to the reports the retailers are also purchasing their holiday gifts before thanksgiving.
Retail companies are more focused on promotions these days and price levels are different during these shopping days. However, the price changing can be too risky for them so they should limit their price rates on these days. When the prices are high then the shoppers must not be able to get what they do in order to have bestselling rates then they should limit their prices.
Here consumer behavior also plays a major role in markets because their shopping in malls when they have deals and promotions for their customers so there will be a mess and everyone wants to get as much as they want. Recently study shows that many consumers harm the other consumer on black Friday sales which is not a good thing for the markets because if this behavior continues then customers will stay at home and will prefer to do online shopping rather than visit shops.
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