
Thanksgiving is just around the corner, meaning that Black Friday is right on its coattails. While I’ve never had the experience of shopping the day after Thanksgiving, it’s widely practiced in the U.S.
Even during the past few years when our economy has been on the rocks, shoppers have still trekked out in the cold with their bellies filled with turkey and stuffing, ready to get the best deals on electronics, toys and more.
In 2011, Black Friday sales increased 6.6% over the same day of 2010, according to ShopperTrak, a retail technology company, resulting in $11.4 billion in retail purchases – the largest amount ever spent on the day. Retail foot traffic rose as well, increasing by 5.1% over Black Friday 2010.
That means if you haven’t already, you’ll soon see ads everywhere on the hottest Black Friday deals.
ShopperTrak released a press release earlier this month predicting that national retail sales, as compared to the same time period last year, will rise 3.3% during November and December, the peak holiday shopping months. They say retail foot traffic will increase 2.8%.
The National Retail Federation also predicts a rise of just over 4% in store sales during the holiday season. NRF CEO Matthew Shay says:
“In spite of the uncertainties that exist in our economy and among consumers, we believe we’ll see solid holiday sales growth this year.”
Online shopping continues to grow and for the first time, more than half of shoppers say they will use the Internet for gift buying, according to the NRF.
But these forecasts don’t mean that advertisers and marketers should sit back and relax and just let the sales pour in. They’re going to have to put in the work too.
ShopperTrak says retailers will have to earn the expected sales increases of 2012. Bill Martin, ShopperTrak founder, says:
“Those 32 days provide extra time for consumers to shop more frequently and to visit more stores during the holidays. But retailers must prepare to capitalize on the holiday opportunity while managing the increase in operating costs that go hand-in-hand with extended store hours on more shopping days.”
One thing that this group needs to be extra mindful of is that there are two extra weekends this holiday season because Christmas falls on a Tuesday and the fact that there is a weekend between Christmas and New Year’s Eve.
One thing is certain, Black Friday is sure to be just as crazy – if not more so – then last year.
Marketers and advertisers need to be creative in their ads, where they place them (many are using SRDS.com data to help make their decisions!), as well as the deals they’re offering.
Happy Holidays!