5 Black Friday Expert predictions for Shopify retailers
The big Black Friday sale day is upon us, and the Shopify store owners are all beefed up with all the necessary tools and strategies to register skyrocketing sales this season.
Motivated by 2020’s insane growth in eCommerce sales on Black Friday and Cyber Monday sales, Online retailers expect to be doing good business this year too. On top of that, the prediction by experts lifts the expectation bar a notch higher.
So, in our sincere attempt to help you with Black Friday insights and tips, we, in this last blog of our special Holiday season sale series, have come up with the five top expert predictions for the Black Friday sale this year! So, here they are-
Predictions for Online retailers
Customers are expected to spend more this year
BlackFriday.com predicts that the combined sales on Black Friday and Thanksgiving will grow about 20% year over year and touch $17 billion.
According to the survey conducted by their other website Offers.com, shoppers are more discerning on value and deals but are also eager to spend more this season despite the inflation. This behavior of shoppers signals success for online retailers this year.
Online sales will go beyond Cyber Monday
The global CRM leader, Salesforce predicted that like last year, the holiday season sale would continue even after Cyber Monday.
According to Salesforce, online sales will surge up to 10% in the US and 7% globally. In other words, there will be spending of around $259B in the US and $1.2T around the globe throughout this holiday season.
Retailers in the US will have to pay extra costs for goods and services this season
Due to the disruption in the supply chain, retailers will have to face a $223 billion extra cost this year. The supply chain disruption will also cause a delay in goods delivery and fulfillment. Hence Salesforce predicted that the supply chain would be stretched this sale season.
Retailers will up their persuasion game.
Mathew Isaac, professor of marketing at Seattle University, predicts that persuasion will persist this year. Retailers earn a substantial part of their revenue during this period of the year. So, retailers will put on their best marketing tactics, ads, deals, and offers to persuade buyers into shopping more and more this season.
Lower discounts due to inflation and Supply Chain issue
A global survey by Salesforce revealed that early holiday shopping increased online sales by 18% despite lower discounts and fewer products.
Rob Garf, VP, and GM of Retail, Salesforce, said, “Consumers may finally lose the game of discount chicken this holiday — with discounts down by 5% from last season. Any discount over 25% is a good one based on what we’re seeing this year — so consumers should act early.”
Hence, there would be lower discounts this year as retailers will pull back on early-season discounts.
We know, Salesforce is one platform that can help you deliver great customer experiences with its insights and various features. In order to stay focussed on selling while managing inventory, orders, and customers in one platform, Shopify retailers must capitalize on the Salesforce platform.
So, connect your Shopify store with Salesforce flawlessly with Shopify Made Easy app. This app offers real-time integration and concurrent inventory management without any hassle. You may find this app on Salesforce AppExchange. You may also talk to a Salesforce expert for any concerns regarding the app here.
That was all. We hope the blogS of this series help you gain better insight and understanding of the Black Friday sale 2021.
Stay connected with us for more updates from the e-commerce world. Till then, Happy selling!