Whilst Black Friday is traditionally a US holiday, it undoubtedly influences eCommerce merchants and online shoppers on a global scale. 2020 has been an unusual year, to say the least, but the question remains as to whether this year’s events will have an impact on the consumer shopping behaviours during the holiday season. Will demand increase, or will the impacts of Covid 19 reduce the number of shoppers this holiday season? How should merchants prepare and what steps should they already be taking to gear up for the coming months?
In this week’s episode, Waldo (Senior Digital Strategist) and Leo (General Manager) deep dive into some key stats from Shopify Plus about the anticipated shopping behaviours of US holiday shoppers for 2020, how these stats will be reflected for APAC shoppers and how eCommerce merchants should prepare.
According to 2019 spending figures from Shopify (source), merchants smashed previous records with $2.9 billion in worldwide sales over the Black Friday/ Cyber Monday weekend.
Online flash sales and promotions are not a new concept, and we know that they are a successful way to engage new customers and encourage repeat customers. In August 2020 (compared to August 2019) 1.36 million Kiwis were shopping online, up 19% on last year. This has resulted in a 26% increase in online transactions, with an average dollar spend per transaction up 7% at $108.00 (source). Despite a tumultuous year for physical retail stores, online shopping is seeing more growth than ever before.
Black Friday is not dead, but it is changing. As an eCommerce merchant, you should already be planning for the upcoming season of online sales. If you have no idea where to start, this episode of Talk ‘n Shop will give you some helpful tips. Looking to sit down with our team of Shopify Experts for a custom plan for your Shopify store? Get in touch with us here.
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