How is 2016 Black Friday weekend a big event for retailers and shoppers?

How is 2016 Black Friday weekend a big event for retailers and shoppers | KnowBand

Shopping enthusiasts around the world are always looking for reasons to satisfy their shopping urge. The American customers had witnessed great shopping deals and offer through the recently concluded Thanksgiving Day. Once again, the shoppers are getting new reasons to cheer up with this Black Friday weekend that is around the corner.

The coming weekend is definitely a jackpot for global shoppers as great offers and sales are about to begin and will continue till the next New Year of 2017. Apart from the Black Friday, there is another mega event called Cyber Monday that will further boost the online shopping for online stores. Next to complement this shopping treat will be a month long Christmas and Hanukkah celebration that will drive millions of customers, eCommerce conversion rates, and sales. Let us explore more about Black Friday weekend and other holiday predictions with the help of statistical data given by Adobe Digital Insights and Experticity.

  • Black Friday of 2016 is expected to be much bigger than ever. As per an estimate, the sales are expected to exceed by $3 billion, which is an 11.5% increase over the last year Black Friday sales.
  • The next event scheduled for Black Friday also known as Cyber Monday is also expected of having sales more than $3 billion, which is an increase of 9.4% over last year sales.
  • This 2016 year will see 5% of customers driving around 35% of the revenue.
  • This Black Friday weekend sales of 2016 will witness 25% of the top products being sold, which is a growth of 11% from last year and accounting to a total of $91.6 billion.
  • 2016 is expected to be a great year for retail as the holiday sales will surge up to $91.6 billion, that accounts for 11% increase compared to the last year.
  • Based on the popularity of social mentions, the top five holiday gifts for this holiday season will be Pokemon Sun/Moon, Barbie, Legos, Oculus and PlayStation VR.
  • This 2016 holiday season will emerge as a clear winner for REI in terms of its customer base and employees. The customers will be happy with the exciting shopping offers while the employees will get a day off that will together account for higher sales and conversion rates for the company.
  • One of the biggest retail chains, Walmart will increase the wages of its employees and will achieve Return on Investment (ROI) in terms of bumper sales and customer engagement.
  • The biggest beneficiary of this holiday season will be retail associates as 94% of the people talk about their friends and family regarding attractive deals and offers. This will definitely be a good breeze for malls, shopping centers, and customers in India who are actually hit by the recent demonetization drive.
How is 2016 Black Friday weekend a big event for retailers and shoppers 2 | KnowBand
Amazon is making the most of this holiday season sales with its Lightning sales.

To give cheers to its global customers around the world, Amazon initiated the Black Friday sales 12 days earlier starting from 14th November with its exciting Lightning Deals. Its global site is showing appealing shopping deals and offers on various categories like electronics, books, toys, clothing, sports equipment, personal care, home care, and other such departments.

Final tips

It is important to showcase the similar exciting shopping offers and deals on your eCommerce store to remain in sync with the upcoming holiday season. Stock up the inventory of your online store and improve the functionality of your Magento, OpenCart, PrestaShop, Shopify, WooCommerce and other platform based stores with feature loaded eCommerce extensions. This upcoming holiday season is your chance to ramp up your product sales and eCommerce conversion rates.

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Joe Parker

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