In the context of soaring energy bills and double-digit inflation in some parts of Europe, retailers are feeling apprehensive about the Christmas trading season, despite a shopping surge during Black Friday week. A survey of 400 businesses by Germany’s HDE retailers’ association found that only 30% of merchants were satisfied with sales during that week and only 20% are optimistic about sales between now and the end of the year.
It was a different picture in the United States, where Black Friday sales figures hit record highs. Online sales were up 2.3% on 2021, with $9.12 billion spent online.
What Products Fared Well?
Shoes, clothing, food and drink saw the highest spend in the Netherlands, with card transaction spend up 30% for that week. In the US, online toy sales were up 285% compared to a single average day in October.
Retail Tactics and Challenges
High inventory levels caused some retailers to offer discounts on their regular inventory weeks before Black Friday rather than adopting the traditional approach of limiting discounts to a few select items. Whether this was the driver of the surge in sales or whether consumers are driving forward with their spending remains to be seen.
Giving Customers What They Want
In the current economic climate, creating a simple, enjoyable online shopping experience is paramount to attracting and retaining customers. From an easy browsing experience to convenient payment options and guaranteed fast delivery, keeping up with consumer demands is more important than ever in today’s ecommerce landscape.
Smart Shopping Solutions
Our Smart Manufacturing solutions connect clients with a team of experts who redesign your system from R&D to production and even customer delivery and support. Get in touch to see how we can transform your e-commerce operations.