This year’s talk around Black Friday has some experts convinced that it’s dead and gone. According to Business Insider, the bulk of shoppers in the U.S. have evolved past the one-day shopping event in favor of online/mobile shopping and sales that last the entire month long. And for good reason – Market Track’s Shopper Insight Series survey tells us that 78% of those aged 21-29 view mobile buy pages to compare or complete purchases on a weekly basis. As a result, retailers are increasing the spread of their discounts instead of placing their bets on a single Friday to capture the ever-shifting attention of today’s consumers. Head retail analyst at NPD Group, Marshal Cohen, said “It’s no longer Black Friday, it’s now Black November.”
At this point, brick-and-mortar retailers are well aware of the threat eCommerce poses to the traditionally-critical shopping day, and it’s no mystery that Amazon is the main cause for concern. One analysis found that Amazon accounted for 55% of online transactions among 50 top retailers on Black Friday. Among the retailers best suited to compete with Amazon is Walmart – but just how competitive have they been so far this season?
In a recent Market Track study, we found that Walmart’s online prices leading up to November 7, 2017 were only 0.3 percent more expensive than Amazon on average. This is compared to a 3 percent difference measured during the same period in 2016, showing us that Walmart is prepared to close the holiday pricing gap Amazon set last year.
With more consumers using this time to make purchases online, you might be wondering which products saw the deepest discounts throughout the eCommerce landscape. Well, in another Market Track analysis, we discovered which categories saw the largest online price reductions across the key shopping days.
We see that the Headphones, Tablets, and Wearables categories all saw deeper discounts on average this year, while Cameras and Streaming Devices had higher average discounts in 2016. Meanwhile, the TV and Videogame categories reported more of a mixed bag, with deeper average discounts only during certain parts of the shopping weekend.