It’s the most wonderful time of the year …
Did you know that the term Black Friday was coined after the collapse of the US gold market in 1869? Or, that it was brought out again in the early 60s by the Philadelphia Police Department to describe the horrific traffic the day after Thanksgiving associated with folks starting their holiday shopping? How about it representing the move from the red to the black in many retailers’ ledger books? Well, now you do. … Enjoy!
More than anything, Black Friday, along with its buddy Cyber Monday, represents the busiest time of year in retail and there’s no indication to suggest 2017 from being different from previous years. However, there are some interesting differences in what people are doing with their holiday dollars. Here are a few fun trends for 2017 Holiday Shopping thanks to our buddies over at Deloitte and Forbes…
- Giving experiences rather than gifts will continue to rise, making up more than 1/3 of sales
- In shocking news, Mobile is crucial with more than 60% of shoppers researching on their phones
- Online Sales will exceed in-store. This holds especially true for the affluent who spend nearly 60% of their holiday budget on-line.
- More people will take advantage of buying online and picking up in-store
- Free Delivery doesn’t really resonate with people. Pretty sure Amazon Prime has spoiled everyone rotten.
- Last, but not least, the GenZ kids, who are still waiting on a better name for their generation, will spend the highest percentage of their holiday money on-line, topping out at an estimated 61%.