Black ... or should we say ... Bleak Friday results strongly reinforce that businesses who are not investing in e-commerce today are being left behind.
Black Friday 2015, traditionally the busiest shopping day of the year, posted a disappointing performance falling 10% to US $10.4bn (vs. US $11.6bn in 2014). Analysts suggest the big reason for the decline is due to online shopping.
Many of us have been closely watching the e-commerce channel as it develops through the toddler stage, wondering how this will impact future shopping behavior. In 2000, K-Mart was the third largest retailer with US $36bn in sales; by 2014 its annual revenue dropped by two-thirds. Over the same period, Amazon's annual sales grew to US $89bn from US $2.8bn.
Millennial consumers are the largest and most avid online shoppers relying heavily on smartphones and tablets for commerce. These digital devices have put these consumers in the driver's seat and they don’t even have to leave their homes.
theguardian.com/business; crittercism.com; bnn.ca