We definitely love the huge discounts during Thanksgiving sales, Black Friday and Cyber Monday. And this is true especially on our favorite electronics and other hot season items. These sales events haul in a huge income to many participating merchants and companies too.
With the success of Black Friday in recent years, we anticipate seeing higher spending this year and a higher increase in percentage as well. We came up with an infographic to summarize online spending from 2014 to 2017 Black Fridays and a forecast of this year’s online spending. We also put together expected average discount from top participating online stores this year.
2014 to 2017 Retail Sales and Revenue Statistics
The total spending or retail sales from the past years shows a significant increase yearly. Last year there was a 4% increase in retail sales which shows a good sign that these big events are in fact benefitting many online sellers. Based on the previous sales average, there is an expected increase in retail sales of 4.3% this year.
The data in the second section of the infographic is based on Statistics.com. It gives us a comparison of the online revenue generated from 2014 to 2017 in the United States alone. If you want to see the entire graph from 2008, you can check Statistics.com for Thanksgiving and Black Friday from 2008 to 2017. In 2017, Black Friday online revenues in the US hit $2.36 billion dollars, a staggering increase from $1.97 billion dollars in 2016.
2018 Combined Predicted Online Spending
In 2017, shoppers spent a combined $7.90 billion online on Thanksgiving and Black Friday. For 2018, expect $9.15 billion in combined online spending on the two days, which would set a new record. This would also be a 15.82 percent increase. — Best Black Friday
There’s so much to expect from the big events this year. By this time, your store ought to be ready for Black Friday Cyber Monday. The yearly increase in statistics could be accounted to the significant increase of online shoppers. The internet has become more accessible to more people. Thus, more people are becoming aware of online shopping and e-commerce.
- Nikki joined DSMagazine team in 2017, she is a certified SEO Engineer and is helping drop shippers sell more by creating content, visualizations, and tips in various drop shipping aspects. Nikki lives in the Philippines and started her career as a Virtual Assistant before joining the DSMagazine team.