Retailers to Shift Away From Non-Essential Goods in 2022's Black Friday
VILNIUS, Lithuania, November 22, 2022 (Newswire.com) - As Black Friday approaches, online businesses are putting in more time and energy researching their rivals' prices before deciding on their own markdown. Insights from Oxylabs indicates a significant shift in retailer expectations in this year's Black Friday, with some product categories poised to generate the greatest rivalry in 2022.
The once-popular Black Friday sale category of consumer electronics has seen a precipitous decline in recent years. Retailers anticipate that customers will buy products from other categories, as seen by consumer electronics data dropping out of the top 10 in 2022 after ranking sixth in 2020 and 2021.
Newcomers to the top 10 are Personal Care Product and Health & Wellness, showing that businesses are anticipating a rise in demand for such necessities.
Retailers and manufacturers gather information about their competitors' by scraping prices, product availability, shipping information, and promotions, to mention a few. This information enables them to make calculated decisions about discounts and promotions, particularly during Black Friday.
Oxylabs examined and contrasted two periods: the Black Friday preparatory period of 2022 (September 1 - November 5) and the same period of 2021. According to the data, the most scraped categories on the world's major marketplaces before Black Friday 2022 were:
- Software Development
- Retail
- Technology Information and Internet
- Marketing & Advertising
- Computer Software
- Personal Care Product Manufacturing
- Freight and Package Transportation
- Health, Wellness & Fitness
- IT Services and IT Consulting
- Computer Networking Products
Online buying habits that emerged during the pandemic still linger around and indicate that the days leading up to the traditionally chaotic "Black Friday" are becoming even more hectic than usual.
No one should anticipate that the digital boom of the past two years will abate anytime soon. According to Salesforce, it is expected that in November and December, internet sales will generate $1.12 trillion globally and $265 billion in the United States alone.
The most significant change happened with Software Development climbing to the top of the list. It shows that selling data about Black Friday is becoming more important than providing competitive Black Friday bargains.
The top ten most scraped categories during the Black Friday preparation period in 2021 were:
- Retail
- Information Technology & Services
- Marketing & Advertising
- Computer Software
- Airlines/Aviation
- Consumer Electronics
- Other
- Hospital & Health Care
- Computer & Network Security
- Pharmaceuticals
The industry is moving away from luxury spheres such as aviation and electronic goods and turning to essential categories such as Personal Care Products.
The wellness industry is rapidly expanding and becoming a top concern for consumers. With rapid changes and post-pandemic influence, consumer interest in health seems to be only increasing. According to a recent McKinsey research, about 50% of US consumers now rank health as a significant priority in their daily lives, up from 42% in 2020.
McKinsey's study estimates that spending on wellness goods and services in the United States alone is over $450 billion, expanding at a rate of more than 5% each year. So, it is no surprise that our research also found exponential growth in the Health, Wellness & Fitness industry.
Additionally, customers no longer place their primary importance just on low prices as a purchasing determinant. This year, it is anticipated that greater value and excellent service would be major selling factors in the marketplace.
According to a study, the vast majority of customers listed speedier delivery as the most important enhancement they'd want to see in online purchasing, and a staggering 70 percent of those customers wished that other marketplaces would provide a service that is comparable to "Amazon Prime."
This year's statistics showed that web scraping is no longer just an important tool. It is now a must-have for ecommerce businesses.
About Oxylabs
Established in 2015, Oxylabs is a premium proxy and public web data-acquisition solution provider, enabling companies of all sizes to utilize the power of big data. Constant innovation, an extensive patent portfolio, and a focus on ethics have allowed Oxylabs to become a global leader in the web data acquisition industry and forge close ties with dozens of Fortune Global 500 companies. In 2022, Oxylabs was named the fastest-growing public web data-gathering solutions company in Europe in the Financial Times' FT 1000 list.
For more information, please visit: https://oxylabs.io
Source: Oxylabs
