Each year, the leading day of the holiday season shopping spree, Black Friday, delivers major shifts in consumer behavior, indicating that the future of shopping is knocking on the door of digital realm.
2020 was a record-breaking year for online shopping: 100 million consumers shopped online (up 8% YoY). Meanwhile, there was a huge drop in in-person Black Friday shopping — 58.7 million hit the stores on Black Friday (down 37% YoY). On Thanksgiving Day, the drop in in-person shopping was even more pronounced, due to major retailers being closed — foot traffic dropped 55% YoY (2020 vs. 2019).
The ecommerce market has seen an extra inflow of consumers who started shopping online for the first time this year, which is a clear indication that consumer market is going online. With 63% of US consumers preferring to avoid brick-and-mortar shopping, it is not very surprising to see mega retailers like Walmart, Target, and Lowe’s keeping their doors closed for Thanksgiving, and hosting virtual sales events instead amid the pandemic situation.
According to SEMrush Traffic Analytics, the average traffic volume of the above mentioned trio of websites was up by 16% YoY in October, which accounts for millions of new visitors. Consumers are more and more inclined to shop online these days, so retailers must continue to adapt accordingly to succeed.