Black Friday online shopping soars 22% to record $9B: Report
A new report states Black Friday online shopping increased 22 percent from the previous year.
Due to the Covid-19 pandemic, more Black Friday shoppers are opting for online sales over in-store shopping. As a result, retailers are seeing shorter lines and smaller crowds on typically the biggest shopping day of the year. Aired on 11/27/2020. The traditional Black Friday sales that follow Thanksgiving in the U.S are underway.
And where COVID-19 has ravaged many industries, retail has proved resilient. Consumers have more money to spend than expected. But much of that cash is being spent online, leaving some of the leading physical stores devoid of the usual crowds. The raging COVID-19 pandemic kept crowds thin at malls and stores across the country on Black Friday, which is ordinarily the busiest shopping day of the year. This year, crowds at stores were dramatically diminished as shoppers shift online. (Nov. 27) Fewer shoppers braved long lines and went into stores on Black Friday, but the coronavirus didn't stop people from shopping for the holidays. Venkatesh Shankar from the Center for Retailing Studies at Texas A and M University joins with more.