Walmart are the ones most remembered by holiday shoppers looking for Black Friday deals, according to new research.
Big box retailers dominate online searches for Black Friday discounts on Friday mornings, according to advertising technology company Captify, which tracks more than 1 billion searches a day from websites globally.
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Searches for Black Friday discounts at Walmart jumped 386% year-over-year, outpacing rival retailers Amazons, which last year ranked first in Captify’s survey of the most searched-for retailers on Black Friday. This year, the world’s largest e-commerce company is ranked fourth, behind Target and owned by Kohleach.
Retailers are battling for eyeballs and wallets of shoppers at a time when the holiday shopping season is expected to be quieter than in previous years. Americans are expected to pull back on their holiday shopping this year as high inflation squeezes their purchasing power.
The National Retail Federation said it expects holiday sales during November and December to increase by between 6% and 8% from last year, a decrease when taking into account the effects of inflation. Online sales during November and December are expected to grow a meager 2.5% to $209.7 billion, compared with last year’s 8.6% increase, according to Adobe Analytics.
Early signs suggest the season may not be as bleak as many think. Online sales rose 2.9% year-over-year to $5.29 billion on Thanksgiving, said Adobe Analytics. That was slightly higher than expected for growth over the holiday season as a whole.
Black Friday is expected to attract $9 billion in online sales, up 1% from the previous year, according to Adobe.
Shopify merchants are seeing a solid start to the holiday period. Businesses that host their online stores on Shopify are raking in $1.52 million per minute on Thanksgiving Day, according to the company.