Black Friday 2018 Set Records. This Year Could Be More Chaotic
Black Friday 2018 saw a lot of green. And, despite worries over the trade war and the upcoming election, it’s starting to look like Black Friday 2019 will be no less busy.
Salesforce is predicting global digital revenue of $36.9 billion on the day after Thanksgiving. All totaled, the company expects total sales to reach $136 billion this holiday season. That’s a 13% increase over last year.
Salesforce based its estimate on shopping data of 500 million shoppers and 10,000 of its own retail customers. It’s not the only prognosticator predicting a better year than last year, though.
The National Retail Federation says consumers will spend an average of $1,047.83 this year, a 4% (or roughly $40) increase over 2018. Shoppers between the ages of 35 and 44 are expected to spend the most, with budgets averaging $1,158.63.
“Consumers are in good financial shape and willing to spend a little more on gifts for the special people in their lives this holiday season,” said Matthew Shay, NRF president and CEO in a statement. “Retailers are fully prepared to meet the needs of holiday shoppers looking for that perfect mix of sales, quality and selection.”
Because the holiday season (as defined by the stretch of time from Black Friday through Christmas) is shorter this year, though, there’s uncertainty about how busy the malls and brick and mortar stores will be on the traditionally busy shopping weekend.
Many retailers are already offering Black Friday-level sales to ensure shoppers spend heavily. And the convenience of online shopping continues to impact mall foot traffic, even as stores try to offer more in-person experiences to draw people away from their phones and computers.
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