Black Friday shopping during COVID-19 stimulates market growth
December 25, 2020
As COVID-19 cases continue to rise, millions of Americans take on holiday shopping from the comfort of their home. According to a RetailMeNot survey, given that many stores and malls are mostly empty due to a rise in cases, 75 percent of people have preferred to do their holiday shopping online this year.
According to the Washington Post, Americans spent a record $5.1 billion shopping online on Thanksgiving Day, an amount that is 22 percent higher than 2019. By the end of the holiday season, Adobe predicts that online sales will grow to $189 billion. In addition to online sales, in store/curbside pickups are predicted to skyrocket by 52 percent.
Target was one of the many retail winners, experiencing a156 percent increase in online sales in November. According to Retail Dive, Target outdid Walmart, Etsy, BestBuy, Amazon, and Ebay. On a much smaller scale, the pandemic has compelled people to support small businesses, as small businesses can strengthen and boost the economy. Although many small businesses owners have lost sales due to COVID-19, some small businesses have found ways to go digital in order to meet the preferences of American shoppers.
While some people preferred in person shopping, junior Vivian Li stayed home and did her Black Friday shopping online. “I didn’t go Black Friday shopping in person this year because I knew that even with COVID, people would go,” Li said. “Obviously, people still need to go out and get things done. I think while it’s best to stay home most of the time, it’s okay to go out as long as you are respectful of others, cautious, and always wear a mask.”
¨It would feel irresponsible to me personally if I went [shopping in person]… but I don’t feel negatively or positively about it.¨ sophomore Rinna Mamboleo said.