This article cites a report by Stock Apps for which 30,223 online responses across US from 9 October to 11 October 2020 were studied.
The study revealed that even though most people would choose to shop online this year, 42% Americans have $500 earmarked for Black Friday shopping. 25% of US consumers haven’t yet budgeted for the day and 28% would spend the same as they did in 2019.
Another 15% are yet to decide if their budget for holiday spending in 2020 will differ from 2019. The report didn’t observe any signs of consumers being discouraged from holiday shopping on account of the economic stresses brought on by the pandemic.
Retailers are advised to focus on digital commerce as part of their overall business. They are working on better traffic management, improving payment systems, shipping processes and more.
[2 minute read]