In 2014 Black Friday set new US online sales records and generated $2.4 billion. This year it is predicted that online sales will reach $2.7 billion and total sales from all holiday shopping will exceed $885 billion.
If you are a business that sells products or services that would make a great gift you need to take advantage of the holiday season. You may also want to trade in your print ads for Social Media Advertising.
Ecommerce sites typically rely on traditional online strategies to communicate offers, however with 47% of consumers stating that the internet is their favorite shopping destination it may be time to update your online visibility and start communicating sales and offers via Social Media.
In fact, it is predicted that Social Commerce will be a bigger player in holiday shopping with the addition of the “Buy” and “Shop Now” buttons available to businesses on the Social Networks.
Regardless of where you advertise or approach consumers, the fact is that Black Friday and Cyber Monday are big days to promote and sell your products. In the past both of these days have generated decent sales.
However, with the increased usage of Social Media and the majority of people using mobile device, these days have become the time when retailers make nearly one quarter of their annual sales. Holiday sales for 2015 are predicted to generate 19% of the $3.2 trillion of the retail industry’s annual sales and it is predicted that 68% of online sales will be from holiday related sales.
Additionally, a few more predictions for the 2015 Holiday Shopping Season include:
- Shoppers will likely spend an average of $805 per family.
- It is anticipated that consumers will spend 11% more on holiday items.
- Digitally influenced sales are predicted to affect 64% of in-store sales.
Black Friday online sales are predicted to reach $2.7 billion and Cyber Monday sales are anticipated to total $3 billion. It is in your best interest to take advantage of these shopping events. There’s still time!