Black Friday Week Returned to Growth; Cyber Week Lost Steam: NPD
Higher average selling prices and a “waning” promotional environment combined to return this year’s Black Friday Week to growth, reported NPD Tuesday. ASPs during Black Friday Week ended Dec. 4 increased 10% year over year, with unit volume up 3%…
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and revenue jumping 14%, it said. Cyber Week brought continued growth in “discretionary retail sales,” but was “well below” the performance of Black Friday Week, it said. “Consumers are embracing a different kind of value, as they look to invest in higher-end, better-quality products,” said Marshal Cohen, NPD chief retail industry adviser. This year’s Cyber Week followed pre-pandemic patterns, “demonstrating that the lack of a post-Black Friday lull in 2020 truly was an aberration,” said Cohen. “High-momentum categories are starting to show some vulnerability, which is understandable given the headwinds at play.” It’s possible those categories may still resonate “with late holiday shoppers looking to take advantage of last-minute deals during the full week of shopping after Super Saturday,” he said.