Black Friday In The Pandemic: The Dominant Thrive, The Rest Hang On
Follow us on Google news for more updates and News
The pandemic has played spoilsport to in-store sales including huge retail stores who have had to close down many iconic brick and mortar stores. However retailers with strong online business models have thrived way beyond expectations.
Traditionally, holiday shopping has revolved around Black Friday with stores offering huge discounts on this day. Queues of shopping waiting to enter stores stretch for miles and deals disappear within seconds as there’s a clamor to pick the best deals.
This year brick and mortar stores have suffered closure, both temporary and permanent due to the lockdown and dwindling footfalls. Large online retailers like Amazon and Walmart have had bullish sales and their sales figures have been breaking all records. Meanwhile brick and mortar stores have been transformed into fulfillment centers rather than department stores.
The trade group National Retail Federation said that about 59% holiday shopping began early November and a large part of this was online. They expect E-commerce sales to grow by 30% when compared with last year’s sales.
Stores are still hoping to get Black Friday crowds this year. Many large retail stores, like Walmart and Best Buy, who also have a robust online presence, are offering fantastic deals in stores. Shops are scheduled to open at 5am.
Holiday shoppers should also browse through smaller websites and online stores like iParis and organic greek to pick once in a year excellent deals.
Source NY Times
PLEASE READ THE IMPORTANT DISCLOSURES BELOW.
This content is being provided to you for informational purposes only. The content has been prepared by third parties not affiliated with CWEB Inc, a business. This content and any information contained therein, does not constitute a recommendation by CWEB to buy, sell or hold any security, financial product or instrument referenced in the content. This information neither is, nor should be construed as an offer, or a solicitation of an offer, to buy or sell securities by CWEB Inc. CWEB Inc. does not offer or provide any opinion regarding the nature, potential, value, suitability or profitability of any particular investment or investment strategy, and you shall be fully responsible for any investment decisions you make, and such decisions will be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance, and liquidity needs.
Unless stated otherwise, the web content provided by the CWEB family of companies is for educational purposes only. The information and tools provided neither are, nor should be construed, as an offer, or a solicitation of an offer, to buy or sell securities by CWEB Inc. or its affiliates. Unless stated otherwise, no information presented constitutes a recommendation by CWEB Inc. or its affiliates to buy, sell or hold any security, financial product or instrument discussed therein or to engage in any specific investment strategy.