People wait for the whole year for Black Friday to get some good deals on their favourite products to buy, but this year the enthusiasm was missing as sales decline as compared to last year. Online shoppers spent nearly $8.9 billion this year in 2021, falling just short of the $9 billion spent in 2020.
Why did online sales on Black Friday decline this year ?
- According to Adobe, the declining trend may have been caused by an increase in early spending, as some stores began offers and promotions as early as October. When buyers did make online purchases on Black Friday, Adobe discovered that 44.4 percent of those sales were made from a smartphone, a 10.6 percent rise from the previous year.
- The second reason is Global supply chain issues. As per Adobe’s report, out-of-stock messages have risen by 124% since January 2020, making it more difficult for customers to obtain the products they desire. Appliances and electronics have been hit the hardest, and the ongoing chip shortage is most likely to blame.
“For the first time ever, Black Friday saw a reversal of the growth trend of past years,” said Vivek Pandya, the lead analyst at Adobe Digital Insights. “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.”.