Famous Black Friday/Cyber Monday Trends to Look Out For
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All of you have a wonderful Thanksgiving! Here are a few simple takeaways from recent Black Friday and Cyber Monday consumer behaviors.
Thanksgiving day will be quiet thanks to these 4 Black Friday trends
An overall decrease in Thanksgiving Day shoppers reflects the fact that people are making more purchases online, but it also implies that people prefer to take a break from materialism on this day of thankfulness in favor of genuine connection.
More stores are closing their doors on Thanksgiving Day as well. Target, for example, has decided to lock its doors for the holidays indefinitely. Perhaps, like it did for REI in 2015, this choice to opt out will enhance sales.
Secondhand shops' online sales are exploding
This year, the majority of presents will be bought online once again. Secondhand stores, on the other hand, are becoming more popular.
This Christmas season, more than half of all purchases are expected to be done online, which isn't unexpected. The ease of internet buying is obvious: 43% of customers believe that shopping online is more convenient for their schedules. Consumers are being frugal this year due to the epidemic and the situation of the economy, which is improving but remains poor.
The most connected spenders have the most potential for growth.
The "Connected Spenders" group, as defined by The Demand Institute, is rising faster than the middle class and is a stronger predictor of global purchasing patterns. Internet connection, digital knowledge, and involvement in the digital economy are, unsurprisingly, the most crucial features of a "Connected Spender."
These connected customers are more willing to test new things and are willing to spend a higher price for higher-quality items. They aren't simply making purchases on the internet; they are also researching, reviewing, and recommending things to their peers. As a buyer, they have a mostly digital experience.
Shopping experiences across multiple channels are now required
Customers want smooth, integrated shopping experiences. They expect you to have it in stock in the shop if they conduct their research online. They want the same quality of customer care on social media if they have questions after leaving the business.
Connected consumers use the internet to research and interact with shops and brands, and you, as a brand, must be in charge of that experience. What can you do to better meet the requirements of this digitally sophisticated clientele? Consumers are clearly dissatisfied with the existing quo, as seen by these developments.
The conventional marketing methods are no longer effective. New insights and a complete rethink of your go-to-market strategy are required to engage the appropriate consumer with the right message at the right time and via the right touchpoints.
3 cyber Monday fashions
Cyber-sales are still on the rise.
Last year, Cyber Monday sales surpassed $10.8 billion, setting a new high. Previously, Cyber Monday sales had a habit of increasing every season. They've slowed a little, but that doesn't mean they're not still flying across the sky.
There's no reason to believe that sales in 2021 won't continue to rise—some predict that they'll top $11.8 billion this year, making it the greatest single shopping day in US history. What does this imply for consumers? Traffic.
Sales platforms that are overburdened. Wait times, sluggish service, and website crashes are all common occurrences. As a result, this year, make sure your touch points and sales portals are as current, clean, coordinated, and useful as ever.
Cyber Monday is taking off
Cyber Monday has extended to practically every major economy in the globe, regardless of whether they celebrate Thanksgiving or not, thanks to the near-universal accessibility of mobile devices.
Companies, predictably, like the concept of having Cyber Monday all over the place. With phones making transactions faster and easier, automation eliminating the need for salesmen, and more nations participating in the internet economy, Cyber Monday may possibly become truly universal—that is, every country participating—within a few years.
Defend yourself from fraud
Fraud on the internet is a greater problem now than it was five years ago, or even last year. With more people purchasing online, phishing schemes and frauds are becoming increasingly common.
We know that AI and machine learning are the current solutions, but the tools aren't yet ubiquitous or faultless. As a result, you'll have to make your own decisions on how to safeguard your data, sales, and clients on the internet.