If you were a participant in Black Friday, Small Business Saturday, or Cyber Monday, then you know that retail buying patterns are changing dramatically.
There is nothing unexpected here. It has been happening for some time. Sales are moving from the bricks and sticks retail locations to the Internet.
Initial indications are as follows:
1. Brick and mortar sales dropped by 6.2% v last year’s totals. [I cannot figure out how these numbers are compiled so quickly.]
2. The number of brick and mortar buyers dropped by 2.1% when compared to 2018.
3. Black Friday online sales increased by 20% to an all time record of $7.4B.
4. Cyber Monday sales hit $9.4B an increase of 20% also.
5. 65% of Black Friday sales transactions originated on smart phones — a 35% increase when compared to last year.
6. Shipping is becoming an immensely important consideration. “Buy online, pickup in store” sales increased by 43% v 2018.
The entire phenomenon of shipping is starting to become a critical business consideration. It is rejuvenating places like Target whereat they can ship in one day because their inventory is in their stores and a store is very close to everyone, but they also are prospering because buyers like to order online and go to the store to pick the item up.
I did just that — order online, pickup at store — with a toilet for a remodel. It is a different channel, but not by much. Interestingly enough, the store I bought the toilet from (Home Depot) has an entire process that made it irresistibly easy. I was very impressed.
The transformation of retail to online continues unabated. Thought you needed to know.
Merry Christmas! Holiday greetings!
But, hey, what the Hell do I really know anyway? I’m just a Big Red Car.