The busiest shopping days of the year for online retailers, Black Friday and Cyber Monday, are quickly approaching in 2022. The 25th of November will be Black Friday in 2022, while the 28th will be Cyber Monday. Naturally, these dates are just stand-ins for a sale season that will last for at least a few weeks.
Compared to previous years, we can anticipate some shifts this year in several key areas. Online and traditional stores need to adjust their practices in light of the continuing pandemic, rising prices, and the prospect of a recession
Black Friday and Cyber Monday 2022 Predictions
I hope my forecasts for this year's Black Friday and Cyber Monday sales can be of assistance.
1. Black Friday And Cyber Monday 2022 Will Have The Best Deals Ever
Even with the current inflation rate, prices will be lower than last year. Retailers had supply chain issues last year, so they offered fewer deep discounts because demand was high. Many retailers, including Walmart, Target, Gap, Nordstrom, Macy's, and Kohl's, have an abundance of inventory this year. If they are unable to sell all of that inventory in the next month, which is unlikely, it will most likely be offered at steep discounts during Black Friday and Cyber Monday.
Amazon Prime Day, which took place on July 12 and 13, is a good predictor of Black Friday and Cyber Monday. In response to the high inflation, Amazon offered some of the steepest discounts since the launch of Prime Day in 2015. Values were up to 50% higher in some categories than in 2021, with most types seeing at least a 15% increase. The strategy was successful, as the online retailer's average order value increased by at least 16% over the previous year.
2. Sales Will Be Extended
Because of retailers' ample supply, this has happened. The trend in recent years has also been for stores to begin their sales much earlier, sometimes as early as October or November, and continue them later into the following year. We can expect that trend to carry on firmly this year.
The retail industry is also sensitive to the needs of its customers. 83% of shoppers say they begin looking for holiday deals much earlier than Black Friday, and many say they continue doing so much later than Cyber Monday. As a bonus, consumers continue to spend their money all weekend long. There was a slight decrease in sales from the previous year on Small Business Saturday and the Sunday after Black Friday, but this weekend is still essential for merchants.
3. No Sales Records Will Be Set This Year
Black Friday and Cyber Monday have consistently smashed the previous year's sales records. Avoid setting your sights on that happening this year. Black Friday sales decreased for the first time, although Cyber Monday set a record for online sales for that day. Consumers are cutting back on frivolous spending and are cutting back on their overall spending.
Online retail sales are predicted to fall for the first time in 2022. A previous forecast anticipated $481 billion more in sales by the end of the year, so this news has caught many off guard. We're back to dealing with inflation, a potential economic downturn, and general economic uncertainty. Plus, many products sold online have seen price reductions in 2018.
4. Trust And User Experience Will Be More Important Than Ever
The number of people participating in Black Friday and Cyber Monday sales has decreased, although sales have increased yearly, except for 2017. Even more so, between 2019 and 2021, there was a 15% drop in business on those days. Why? The extended sales period is a contributing factor, as mentioned above.
There is another major factor at play, however: consumers no longer associate those days with the lowest prices. Sixty-two percent of British consumers surveyed agreed that Black Friday prices weren't better than other days of the year. They make a valid point. Five percent of Black Friday deals in 2019 were lower than the regular price at different times of the year. These elements have also contributed to shoppers' loss of enthusiasm for Black Friday and Cyber Monday.
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