According to a data compiled by Captify, Walmart, Target, and Kohl’s were the top three destinations for Black Friday deals searches in 2022, ahead of former leader, Amazon.
Walmart saw an astonishing 386% increase year over year in searches for the best Black Friday deals this year. In 2021, Amazon had comfortably lead the searches as America’s foremost e-commerce destination.
This report further compounds the woes of Amazon, which was among the top 7 US tech companies that were losers in 2022, it lost $540.57 billion in its valuation. Being fourth in 2022 is even worse than 2021 because holiday sales are expected to to be much lower this year.
It is not yet clear what went wrong for the e-commerce giant during this year’s Black Friday and searches does not translate into sales, so, we are not sure that Walmart sold more on the day than Amazon. Although, the likelihood is high.
With inflation squeezing tighter on people’s spending behaviour, retailers are looking to get as much out of customers as possible. It seems that the panic was unwarranted, however, as Adobe Analytics show that Black Friday sales amounted to $9 billion online sales, which is a new record.
In related news, electronics were the biggest contributors to Thanksgiving sales as well as toys and exercise equipment. Also, flexible payments such as Buy Now Pay Later was more popular than it has ever been.
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