This year, the online shopping trends during the Double 11 Shopping Festival and Black Friday are lower than in previous years. According to observations, consumers are more inclined to compare prices and buy goods earlier.
New York, NY (Merxwire) - How much did you spend in November this year? Every year, many sellers will launch activities on the Double 11 Shopping Festival and Black Friday, and online stores will also provide super discounts to attract consumers to buy goods; Double 11 and Black Friday are like an online discount war. But this year, online store revenue during Double 11 and Black Friday was not as good as before.
On the double 11 this year, many online store platforms are low-key, they canceled the immediate release of commercial information and instead released results on the 12th, and the overall atmosphere is more deserted than before. Take Tmall as an example. Although Tmall's total transaction volume on Double 11 was RMB 540.3 billion, an increase of 8.45% over last year, the growth rate has slowed down significantly compared with the past 26%.
According to the analysis of Adobe Analytics, this year's Black Friday online shopping trend in the United States saw a decline for the first time. Adobe Analytics tracks the transaction figures of multiple retailers in the United States, showing that the total amount of consumers shopping online this year is about 8.9 billion U.S. dollars, slightly lower than the 9 billion U.S. dollars in 2020.
Why is the online shopping trend of the Shopping Festival lower than in previous years? "For the first time ever, Black Friday saw a reversal of the growth trend of past years," Vivek Pandya, lead analyst for Adobe Digital Insights, said in a statement. "Shoppers are being strategic in their gift shopping, buying much earlier in the season and being flexible about when they shop to make sure they get the best deals."
Many consumers will observe the prices of goods throughout the year, and the discounts at the shopping festival can no longer attract them. On the other hand, since everyone places orders during the shopping festival, it causes global logistics traffic jams. Therefore, some people worry that online shopping is too late to give gifts, so they buy goods at a brick-and-mortar store.
Shopping festivals are no longer an advantage of online stores. Some people choose to place an order online and go to the brick-and-mortar store to pick up the goods. Macy's, Walmart, Target, and Kohl's provide services for consumers to order goods online and then pick them up at the brick-and-mortar store. These department stores and marts have therefore become the sales winners of Black Friday.
Double 11 and Black Friday are one of the busiest days for retail stores. As consumers are more likely to compare prices and shop earlier, the shopping festival's promotional activities have become longer and longer. In any case, consumers will have more time to hesitate and compare prices, and they may also get more concessions in the discount war. Has your shopping list for this year been completed? Write down your wishes for next year and wait for next year's shopping festival!