WASHINGTON, U.S. - With an increase in the use of technology to shop, the Black Friday rush at malls just isn’t the same anymore.Physical stores are said to be facing an intense ...
• The commercial holiday started in the 1980s
• Black Friday sales dropped by 14.1 percent in 2014
• Cyber Monday, however, saw an increase in sale
WASHINGTON, U.S. - With an increase in the use of technology to shop, the Black Friday rush at malls just isn’t the same anymore.
Physical stores are said to be facing an intense competition from online marketplaces.
With ease of access and lack of long queues, online markets have certainly gained an advantage over malls.
Last year, online stores did not wait till the end of Thanksgiving to start their sales, in fact, sales were initiated when the month began and on Thanksgiving day itself.
The commercial holiday started in the 1980s and all these years, retailers have opened up their shops early in the morning, welcoming those seeking considerable discounts.
In recent years, experts have noticed a sharp fall in the sales incurred on Black Friday.
Vice chairman of the U.S. Retail & Distribution practice leader, Rod Sides was quoted as saying, “It’s interesting how much traffic has fallen off in the last three or four years around that particular event, and on that particular day.”
In 2014, it can be recalled that the Saturday before Christmas, “Super Saturday”, saw more sales on average than Black Friday, the same happened in 2015.
National Retail Federation claims that since Christmas falls on a Sunday this year, Friday of that week will see more sales than Super Saturday and Black Friday.
However, over the last two years, Black Friday sales have witnesses several plunges.
In 2014, sales dropped by 14.1 percent when compared to 2013 and in 2015, sales dropped by 1.6 percent compared to 2014.
However, Black Friday’s counterpart Cyber Monday has seen an increase since the year 2012.
Sales in 2012 amounted to $1.39 billion, while in 2015, it amounted to $3.05 billion. Online shopping isn’t the only thing responsible for dropping sales.
Some reports said that stores opening their doors on Thanksgiving have also given away the charm of Black Friday. Some stores and malls, however, are closing their doors on Thanksgiving to help sales on Black Friday.