There is no doubt Black Friday 2020 is going to be different, however, 42% of Americans say they plan to spend $500 shopping. The good news for businesses is online commerce now makes it possible to continue operating even during a pandemic.
Data from Stock Apps reveals another 25% of Americans have yet to make up their mind as to how much they will spend exactly. And 28% plan on spending the same amount as last year while 15% say they have yet to decide how this year’s budget will vary.
This is a large survey with a total of 30,223 online responses across the country from October 9-11, 2020. And it shows Americans are not deterred by the pandemic.
42% of Americans Plan to Spend $500 on Black Friday
Even though the economic situation is dramatically different than in 2019, the pandemic is not discouraging Americans from shopping. According to Stock Apps, the only difference is the acceleration of online shopping brought on by the pandemic.
One of the biggest draws of past Black Friday events, besides the low price, was going to retail stores. While some regions still might allow this, for the most part, people are going to be shopping online.
The trend this year is going to center on eCommerce. But the things Americans buy is still going to be the same popular items
What Americans will Buy and Where
Consumer electronics will once again dominate the holiday shopping season. Especially with the release of the Sony PS5 as well as some premium smartphones.
According to the report, retailers are looking to capitalize on Black Friday more than in previous years. Adding, businesses are extending their sale periods even longer because this year several retailers are in transition to a recovery path.
The biggest challenge for retailers is putting measures in place to ensure their digital platform can handle the capacity. Stock Apps says retailers are focusing more on their website to better manage traffic, payment systems and shipping. In the long run, this experience is going to be greatly beneficial because before the pandemic online shopping was the biggest threat to in-store sales.
By improving their websites or even creating a website for the first time, businesses are in essence forced to implement digital commerce as part of their overall business
This article, “American Shoppers Will Spend More Than $500 on Black Friday” was first published on Small Business Trends