Black Friday is now known as a day when consumers can save big money on a variety of items, from appliances to shoe. Over the years, the amount spent on Black Friday has increased. With the total holiday shopping season of November and December seeing billions of dollars spent for the Black Friday sales.
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Retailers moved the Black Friday deals online so that fewer consumers feel the need to be in crushing crowds. They also started the deals much earlier for two reasons:
- First, to spread out the shopping times so that customers who want to shop in-store won’t be in a crowd.
- And second, to attract consumers early to maintain market share, giving them the residual effects of Black Friday where consumers shop more at the retailer that gets to them first.
Evaluating the success of all these 2020 holiday efforts will be challenging. Revenues will be generated in different months than in prior years. And with better performance online than in the past and very likely, worse performance in stores. All of that makes drawing conclusions that will be useful for next year pretty messy and challenging. Black Friday sales must have moved online, but that could not make the Holiday Excitement fade!