On Black Friday 2017, shoppers hit the stores and their keyboards in record numbers as retailers pulled out all the stops to attract them with irresistible deals. This blog will look at how this unprecedented day of shopping unfolded through a statistical lens, revealing what it tells us about consumer behavior and trends for future years.
In 2017 Black Friday generated record-breaking sales across all platforms, online sales soared to unprecedented levels, with consumers spending a remarkable $5.03 billion, an impressive 16.9% increase from the prior year. Shopping at home proved incredibly attractive due to convenience and mobile technology, while retailers added fuel to the fire by offering more deals than ever before on their websites.
Black Friday 2017 was a huge success for mobile shopping, with over 64% of total online traffic coming from smartphones and 41%, or $2.0 billion, of all sales being made via this platform. This emphasizes just how crucial it is for retailers to ensure their websites are optimized for mobile shoppers - after all, more people than ever before have embraced using their phones to make purchases these days.
Despite the growing popularity of online shopping in 2017, in-store sales experienced a surge over the Thanksgiving weekend! Nearly 174 million shoppers visited stores and made purchases both on their computer screens and at counters. According to the National Retail Federation, they collectively spent an average of $335.47 per person—4.2% more than the previous year's winter holiday season.
Black Friday 2017 saw a marked increase in early holiday shopping, with 18% more shoppers hitting the stores on Thanksgiving Day compared to 2016. This trend was further evidenced by many retailers starting their promotions earlier than usual—some even opened as soon as 6 p.m.! It looks like savvy consumers are stocking up sooner and grabbing those sweet deals before they disappear.
The holiday season has long been associated with discounts and deals, but 2017 marked a change in tradition. Black Friday saw the emergence of experiential shopping; retailers looked beyond discounts to create an engaging experience that draws customers into stores rather than just offering them savings online. Interactive displays, in-store events, and personalized recommendations offered shoppers something more than dollar signs—they gave buyers unique experiences tailored to their own interests. As competition intensifies within the retail industry, it's clear that creative new ways to engage consumers will be essential for success going forward!
Black Friday 2017 showed that having a powerful social media presence can make all the difference for retailers. Through strategic promotion of deals on their platforms, brands were able to drive 8% of total online sales—more than just an impressive statistic; it's evidence that, when done correctly, leveraging social media can be nothing short of invaluable for businesses looking to connect with customers.
Black Friday 2017 was a record-breaking year for retailers from all channels, experiencing a surge in profits. The data proves that being well-prepared is essential for success; mobile optimization, early deals, experiential shopping experiences, and utilizing social media are key elements to consider when planning ahead of the big day. With consumer behavior continuously evolving, it will be vital for businesses to stay agile if they want their customers’ loyalty; these strategies should help them remain one step ahead.