The Top Reasons to Shop on Black Friday

Black Friday is the most exciting day for consumers who want to buy their favorite items at huge discounts. The event, which takes place once a year, was designed to allow holiday shoppers to enjoy the Thanksgiving holiday with friends and family while spending less. On Black Friday 2022, companies and local businesses are offering discounts of up to 40-60% on goods and services to attract new clients and dispose of old inventory.

The Internet’s Impact on Black Friday

With the Internet now considered the new frontier of the global trade industry, holiday shopping has taken on a new form. Over the past decade, the popularity of this holiday sale has grown more than 1000%, with e-commerce startups in Europe, Asia, and Africa experiencing record sales and business.

In 2021, global Black Friday sales exceeded $800 billion, with companies such as Amazon and Alibaba benefiting the most. Countries like the US, UK, Spain, and Canada had the highest average customer spending, with each shopper having a budget of $400 and above. Black Friday 2022 is set to be the best and biggest ever as it will be fun to see how e-commerce companies and small online stores will compete with inflation and compete for shoppers and traffic.

Impact on entrepreneurs

Price cuts during holiday sales have greatly affected businesses’ production, logistics, marketing, and staffing costs. Businesses now understand that by using the most cost-effective supply chain, they can offer more reductions in the prices of their goods and services. This mindset gives SMEs an advantage over large corporations, which are mostly interested in selling a large number of products to make a profit.

Seasonal sales offer businesses a blanket check to increase their client base, increase profits and drive traffic to your shop/platform. Many companies are taking advantage of this opportunity to present themselves globally to survive the post-holiday trade. Businesses seizing this opportunity are carefully strategizing and positioning themselves to make the best first impression to convert shoppers into subscribed members or brand-loyal customers.

With more than 100 million shoppers and retailers participating in the 2021 edition of the worldwide sale, the popularity of holiday shopping isn’t expected to wane anytime soon. The 2022 edition is expected to grow exponentially. Experts predict that this may lead to an increase in the percentage of price cuts, which in turn will increase competition among retailers and merchants for buyers.

Reasons to Order on Black Friday

There’s a reason why Black Friday is the most exciting shopping day of a calendar year. On this day, consumers buy their favorite items at cheap prices. The beauty of Thanksgiving sales is that different shopping platforms offer different discounts for a particular product. Most of these platforms offer price cuts of up to 60-70% to attract clients and promote their brands.

It’s fun and exciting.

Holiday shopping is the perfect time to buy all your presents and gifts. With the event taking place over the Thanksgiving holiday, it offers an opportunity to enjoy quality time shopping with close friends and family. Shoppers also have the opportunity to try out new products and services that are cheaper due to mass discounts.

Tested and trusted

Compared to other discount vacations, it offers the most tested and trusted products for consumers to use and use. It’s rare to see anyone ordering from recognized and established platforms on Black Friday. On this day, you are fully protected and responsible for returning any goods that do not meet your requirements or standards.

Leads to overspending

Due to excitement and panic, shoppers tend to go over their budget during holiday shopping. Some customers buy things they don’t even need. To control your spending on holiday shopping, only carry mall cash for what you want to buy. When patronizing online stores, make sure you set a spending limit on your debit card.

Result

Black Friday offers a great time to get your favorite items or market your brand with great discounts. So don’t miss this wonderful opportunity on 25th November.