Tanya Thorson’s Post

🎯 #BlackFriday 2024: Winners, Losers, and Retail Trends 🛍️💻 This year’s Black Friday shopping has been a whirlwind of changes, with some clear winners and notable challenges for others. Here are the key takeaways from the 2024 retail landscape: 🌟 The Winners: #Ecommerce continues to dominate 📈: Online sales saw an impressive 8% growth compared to last year. Retailers with seamless digital experiences and efficient logistics took the crown. Hybrid shopping shines 🔄: Stores leveraging omnichannel strategies—think curbside pickup, in-store promotions for online shoppers, and same-day delivery—catered to consumer convenience. #Electronics lead the pack 🔌: Big-ticket items like TVs, smartphones, and gaming consoles drew customers both online and in-store. 🚧 The Losers: #Supplychain struggles persist 📦: Delays and low stock on trending items left some retailers playing catch-up. Inconsistent in-store experiences 😕: While some stores delivered, others saw reduced foot traffic due to lackluster promotions or inventory issues. #Discount fatigue 🛒: Over-promotion earlier in the season diluted the excitement around Black Friday deals for some shoppers. 🔮 Key #Trends to Watch: 1️⃣ Early #Promotions 🕒: Holiday shopping started earlier than ever, pushing retailers to rethink traditional Black Friday timing. 2️⃣ #Sustainability Matters 🌱: Shoppers showed a growing interest in eco-friendly products and brands, signaling the importance of aligning with consumer values. 3️⃣ #AI-driven #personalization 🤖: Retailers utilizing data to tailor recommendations saw stronger engagement and higher conversion rates. 💡 The Big Picture: #Retail is evolving faster than ever. Success now hinges on consumer-centric strategies, innovative technologies, and the agility to adapt to changing preferences. As shoppers demand more personalization, convenience, and sustainability, brands that meet these expectations will continue to thrive. What trends or surprises did you notice this Black Friday? Share your thoughts below! 👇✨ #BlackFriday2024 #RetailTrends #Ecommerce #Omnichannel

Black Friday’s relevance: It’s far from over! 🛍️📈 Despite changing shopper habits, Black Friday remains the biggest in-store shopping day of the year. Shopper behavior is shifting, with trends like early discounts and hybrid shopping reshaping the season. Understanding these shifts is key to maximizing sales and aligning strategies for the holidays. Curious about what’s really driving these trends? Check out the full insights in our latest blog. 🌟 #blackfriday #holidayshopping #stratavision #retailtrends

Is it time for retail brands to rethink 'Black Friday'? According to data from Adobe Analytics - online shoppers spent $10.8 billion on Black Friday. Crossing $10 billion is an e-commerce milestone for Black Friday which focuses on in-store shopping - which was down 8% this year. Even with some retailers offering a deeper discount in stores. What was once a traditional frenzy of getting to stores at 5am for door-buster deals and waiting in long lines for the season's must-have product/toy- seems to be shifting. It's clear consumers are favoring the convenience of online shopping over in-store experiences. https://lnkd.in/eGUZVfHe

On Black Friday, many shoppers opted to avoid the post-Thanksgiving mall crowds, choosing instead to spend more money online than ever before. Major retailers leaned on steep discounts to attract significant traffic. According to Adobe Analytics, which monitors retail transactions, shoppers spent a record-breaking $10.8 billion online this year—a more than 10% increase from last Black Friday and over double the amount spent in 2017. https://lnkd.in/gA8RERdT

For years, we've heard predictions about the "death of Black Friday," but the numbers tell a different story. It’s still the biggest in-store shopping day of the year, with strong sales both online and in-store. At StrataVision, we’ve been digging into the data to uncover what’s really happening. Early discounts, evolving shopper behavior, and sector-specific trends are reshaping the holiday season—but they’re also creating opportunities. Brian Field, our VP of Analytics, breaks it down: ✔️ Key Black Friday traffic and sales insights ✔️ Sector trends, from apparel to grocery ✔️ Strategies to finish the season strong The takeaway? It’s not just about traffic; it’s about understanding behavior and aligning strategies to meet shoppers where they are. Check out the full blog here: https://lnkd.in/gAQd4EVi #StrataVision, #ComputerVision, #RetailIntelligence

"We’ve been hearing about the impending “Death of Black Friday” for at least a decade, yet it remains the highest in-store traffic day of the year, with nearly double the foot traffic of its nearest challenger, Super Saturday" - Brian Field, VP of Analytics for StrataVision. StrataVision have examined #BlackFriday retail trends to find out the truth and here are the clues...🕵♂️ 1️⃣ pass_by reports visits to retail stores were down just 1.9% vs. Black Friday 2023. 2️⃣ According to Mastercard, in-store sales grew by 0.7% while online increased by 14.6% for a total year-over-year retail increase of 3.4% for Black Friday 3️⃣ Looking at the Adobe Experience Cloud, the bottom fell out of the discount trend starting on Monday, November 25th, hovering around 20% off. 🔎 In the words of Sherlock Holmes, when you have eliminated the impossible, whatever remains, however improbable, must be the truth. Black Friday 2024 was "not a bad turnout for bricks-and-mortar stores in comparison to other post-COVID years." Don't believe all the doom and gloom, but do analyse the data critically and use it to prepare for Super Saturday. Get the truth about Black Friday now ⬇️ #CyberMonday #SuperSaturday #RetailTrends

🔍 Soft #BlackFriday? It doesn't mean that holiday, or overall '24 sales will be soft; it just means Black Friday is serving an evolving role in the retail strategy. It’s no longer just about massive crowds and doorbusters on one day; it's a whole season of loyalty. A marathon, not a sprint.   Richard Kestenbaum explains the significance of physical stores is shifting from pure sales to creating immersive, engaging customer experiences, in an insightful Forbes article. 🎁✨     🔗 https://lnkd.in/esfCtUM5   Key takeaways from this year’s trends:   ➡ **Black Friday Is Now a Season**: The event has evolved beyond a single day, becoming a weeks-long shopping season ➡ **Declining Foot Traffic**: In-store visits were down 3.2% on Black Friday and 0.8% on Saturday, but this doesn’t signal weak holiday sales. The National Retail Federation predicts a 2.5%-3.5% increase over 2023 ➡ **E-commerce’s Role**: Online shopping is a key factor, but it’s not the whole story — shoppers engage across multiple channels  ➡ **Stores as Marketing Hubs**: A store’s success isn’t just measured by foot traffic or revenue at the register. Physical stores are powerful marketing tools, driving non-store revenue and brand awareness as online customer acquisition costs rise.     I spoke about this trend, extensively in my last blog - https://lnkd.in/eHPc2hGT   Retail is more than just a transaction—it’s about delivering experiences that build long-term value.     #RetailInnovation #BlackFriday #CustomerExperience #OmnichannelRetail #RetailTrends

Black Friday 2024 Sales Outlook: Online Shopping Will Continue to Lead Consumer Trends According to media reports, the Black Friday and Cyber Monday promotions in 2023 attracted a record 200 million shoppers, demonstrating the great enthusiasm of consumers around the world for this shopping holiday. Black Friday participation and spending is expected to grow further in 2024, presenting a huge sales opportunity for retailers and cross-border e-commerce companies. In 2023, more than 134 million people chose to shop online during the five-day sale, totaling $38 billion in spending, a 7.8% increase year-over-year. Of these, Cyber Monday became the biggest shopping day of the year, with online spending topping $12 billion, an increase of nearly 10 percent year-over-year. On Black Friday, shoppers spent an average of $321, demonstrating consumers' strong willingness to buy during this period. This significant spending growth reflects the rapid rise of digital shopping and signals that online retail will continue to dominate in the future. Consumers are increasingly inclined to purchase goods through e-commerce platforms to enjoy a more convenient shopping experience with more promotional discounts. According to forecasts, the global sales market for Black Friday is expected to reach approximately $278,645 million in 2024, further cementing the shopping holiday's status as an annual retail peak. As the demand for online shopping continues to grow, cross-border e-commerce platforms and brands should capitalize on this opportunity to meet the consumption peak through innovative marketing strategies and efficient supply chain management. Follow me for more information. Company website: https://lnkd.in/gEjNHdcH #BlackFriday #Shopping #Discounts #Events #Availability

Black Friday 2024: Winners, losers, and shifting trends. As e-commerce continues to thrive and deals extend beyond a single day, the retail landscape is evolving. With online sales soaring and in-store traffic declining, how are consumer habits reshaping the holiday season? #BlackFriday2024 #RetailTrends #Ecommerce #HolidayShopping #ConsumerBehavior

Has Black Friday Lost Its Luster? 🛍️📉 This year’s Black Friday showcased a major shift in consumer behavior, with online sales hitting record highs while in-store traffic declined. According to Adobe Analytics, U.S. online sales reached $10.8 billion, up 10.2% from last year, while Mastercard reported only a modest 0.7% growth in in-store sales and a 3.2% drop in foot traffic. So, what’s behind these changes, and what do they mean for the future of retail? 🤔 Why Is Black Friday Changing? 1️⃣ Economic Pressures 💸: Persistent inflation and rising costs have made consumers more cautious about spending. Many are turning to online discounts to stretch their budgets. 2️⃣ Tech-Driven Convenience 🤖: AI-powered chatbots and enhanced e-commerce platforms are transforming online shopping. This year, bot-driven clicks to retail sites skyrocketed 1,800%, making it easier than ever to find deals without leaving home. 3️⃣ Shifting Shopping Patterns 🛒: Retailers are spreading out holiday deals over weeks, diluting the traditional Black Friday frenzy. Early sales and Cyber Monday’s rise mean consumers feel less urgency to visit stores. What Does This Mean for Retailers? Retailers must rethink their strategies to adapt to this new reality: • Strengthen Omnichannel Presence 🌐: Seamlessly integrate in-store and online shopping experiences. Consumers want flexibility and consistency across channels. • Invest in Digital 🔗: With online sales dominating, improving website performance, mobile apps, and AI-driven tools is crucial. • Reimagine the In-Store Experience 🏬: Physical stores need to offer something unique—whether it’s personalized services, events, or immersive experiences—to bring shoppers back. So, Has Black Friday Lost Its Magic? Not entirely—but its role is evolving. 💡 Shoppers are still spending, but they’re doing it differently. Online shopping has taken center stage, and traditional in-store events are no longer the main attraction. For retailers, the key is to meet consumers where they are—whether it’s online, on their phones, or in reimagined store environments. Black Friday isn’t just one day anymore; it’s part of a longer, digital-first holiday shopping season. 💬 How is your business adapting to these changes in Black Friday and holiday shopping trends? Let’s discuss! #BlackFriday #RetailTrends #ECommerce #CustomerExperience #AIinRetail #HolidayShopping https://lnkd.in/eUp2nZYX