Online Black Friday sales saw a decline this year compared to last year’s sales. As per Adobe’s holiday shopping report, this is the first time online spending during Black Friday has been lowered. Likewise, the decline was primarily due to users shopping early to grab the “best possible” deals.
Last year, Black Friday sales saw a hefty increase of 21.6% year-over-year, bringing the total spend amount to $9 billion. However, 2021’s Black Friday record unveils that the total spend amount was $8.9 billion.
Adobe’s report suggests that the downward trend came into being due to users making purchases before the big day. For instance, some stores started significant sales and promotions as early as October. While the dip isn’t that significant, it is a reversal of shopping trends over the years.
“For the first time, Black Friday saw a reversal in the growth trend of past years,” Vivek Pandya, lead analyst at Adobe Digital Insights, said. “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.”
Apart from this, Thanksgiving online spending totaled $5.1 billion, the same as last year. Hence, both Thanksgiving and Black Friday didn’t see a yearly sales increase in 2021.
Primary causes include shoppers shopping early in other sales and technical supply chain issues. Retailers began deals with significant discounts even in October. According to Adobe, supply chain issues have caused many more “Out of Stock” messages this year, a substantial increase of 124% since January 2020. A decline in Black Friday sales of electronics and appliances could be seen, with a global chip shortage behind it.