Two-day sales figures from retailers suggest the holidays are finally here.
The retail sector has been hit by a record number of Black Friday and Cyber Monday deals in the past few weeks.
As you’d expect, Black Friday and Cyber Monday shares have been hitting record highs and have now eclipsed the previous high in October, 2016, when sales reached a record 11 million, according to the National Retail Federation.
The trend continues in the second half of the year, with Black Friday sales reaching an all-time high of 9.8 million in November.
With Thanksgiving now in full swing, it’s likely that the holiday will be the first to hit retail sales this year, according to NPD Group.
“While the holiday shopping season is starting to take shape, we can already expect Black Friday to be the top selling day of the holiday season,” NSPF analyst Michael Hildebrandt told CNBC in an interview last week.
According to HildeBrandt, Black Friday’s record shopping volumes will lead to a significant boost to the retail industry, as customers will be looking to save time and avoid the dreaded rush.
Despite the fact that sales of most retailers are down from their peaks, HildeBrandt said that Black Friday could still be a great opportunity for retailers to expand their online presence.
NAPFA expects that Black Saturday and Cyber Monday sales will be up by as much as 50 percent this year.
Hildebrandts prediction is correct, with retailers already seeing strong growth on both Black Friday (up about 60 percent), and Black Monday (ups about 70 percent).
In November, the NPD Group forecast Black Friday online sales at a record $1.8 billion, up 30 percent over last year.
“We think Black Friday is a huge day for retail and for consumers,” Hildebrandt said.
In fact, NPD has predicted that the sales of Black Thursday and Cyber Friday will reach record levels.
When you factor in the holiday rush, NBS predicts that retail sales of Thanksgiving will reach an all time high of $1 billion, a significant jump from last year’s total of $700 million.
And even if Black Friday fails to reach the heights of the previous years Black Friday/Cyber Friday sales, Hildebors forecast says it could still see strong growth this year in online sales.
Overall, the NSPF says that the retail industry is expected to add a record 4.4 million jobs in 2020.
What can you do to stay ahead of Black Fridays?
As retailers continue to adjust to the holidays, it is crucial to keep a close eye on Black Fridays and to plan ahead for the best shopping options.
Here are some business-savvy tips for keeping up with Black Fridays: BlackFriday is usually the last day to pick up a phone, as you need to pick it up early, shop for it, and pick it out of the box.
Also, be sure to take your pick-up at your local Best Buy or Walmart.
If you’re shopping online, check out Black Thursday and/or Cyber Monday on Black Friday.
Don’t forget to check out Black Friday deals online, especially online retailers like Amazon, Walmart, Target, and Best Buy.
Black Friars and Cyber Mondays have a huge impact on online sales because consumers tend to go for Black Friday, Black Thursday, and Cyber Saturday sales.
Make sure you shop at your nearest Target, Best Buy, or Walmart store.
Get the most out of your Black Friday shopping by taking advantage of the deals.
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Make sure to bookmark BlackThursday.com for all the latest Black Friday news and tips.
For more on Black Fridays, read The Black Friday Black Market: An Insider’s Guide.