Black Friday Shopping Sales 2017
Black Friday is one of the busiest shopping days of the year because it’s the kick off of the holiday season and there are great holiday bargains. This season is crucial for the economy because around 30% of annual retail sales occur between Black Friday and Christmas.
With so many people going into these stores to shop, there are more job opportunities for people which will help create marginal benefits for people who are in need of a job. Stores increase the demand of their goods, because of the increase in demand, the supply curve will also shift as well.
In 2017, the number of people visiting stores on Black Friday and Thanksgiving fell 4% from 2016. At the same time, online sales rose 18%. Sales hit a record of $7.9 billion, 40% of these purchases were done from mobile phones.
Online shopping had a negative effect on in-store shopping this year, but from the consumer’s eyes, the opportunity cost of online shopping is less than taking time to shop in the stores. Mobile shopping has become an increasingly popular way for consumers to discover and buy products. Adobe reported that Black Friday holiday e-commerce revenue reached $5.03 billion.
Black Friday deals are the best deals to get during the holiday season. Everyone is purchasing different items that are priced at great bargains. Top-selling items that were bought is apparel, houseware, accessories, and shoes.
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Williams, Amahl. “Black Friday And Cyber Monday Trends For 2017.” Forbes, Forbes Magazine, 7 Nov. 2017.
“Black Friday Cyber Monday 2017: An Analysis of Over $1 Billion in Sales – Shopify.” Shopify's Ecommerce Blog - Ecommerce News, Online Store Tips & More. 25 Nov. 2017.