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Wednesday 30 November 2022
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People Stayed Home to Shop on Black Friday

Black Friday And Cyber Monday SaleThe very mention of Black Friday conjures images of long lines in the freezing cold, stampedes of consumers, and possibly even great deals. That’s just what Black Friday is, but for how long? This frenzy of stress is almost the very nature of Black Friday — a veritable scramble for Christmas gifts at unbeatable prices — but it may also be the reason why consumer behaviors could be changing.

This year, total Black Friday sales fell 10% to $10.4 billion, down from 2014’s $11.6 billion, while Thanksgiving Day sales also dropped 10% to $1.8 billion, according to research firm ShopperTrak.

So why did one in 10 shoppers from last year choose to avoid the mobs this year? Simple — because there’s an easier way to shop.

Online shopping increases year after year after year. In 2002, there was only $72 billion in e-commerce sales, but by 2014, the totals reached $359 billion. Going online is a convenient, simple way to shop. You can just plug in what you’re looking for, search around for the best deal, and get it. That’s likely why online sales leads have a close rate of 14.6%, while sales leads gained more traditionally only have a 1.7% close rate. Because shoppers know what they want, and they know how to get it.

Rather than facing Black Friday’s traditionally grueling trials, more consumers chose to hunt down deals on their smartphones, tablets, and computers this year, while retailers also offered the same — if not better — deals online.

Consequently, Black Friday’s online sales increased 14.3% in comparison with last year, according to Adobe, which tracked activity on 4,500 retail websites. Most amazingly, online deals actually accounted for 40% of total sales.

All that being said, shopping online this holiday is not without its own perils. New York State residents reported over 3,000 identity theft complaints during last year’s holiday shopping season, according to the Governor’s office.