The day after Thanksgiving is one that many retailers and consumers look forward to each year for one reason: sales. Although the Black Friday shopping craze may leave retailers’ heads spinning with all of the chaos that comes with the major sale day, there is a great chance that business owners will see huge profits. Consumers get sucked into the discounts on items they have had on their shopping lists and are determined to find the best price. The trend in shopping has been an increase in online retail, and data from this past Black Friday of 2019 shows that fewer shoppers are making purchases in stores. Between Black Friday and the online-centered Cyber Monday, stores without online retail and credit card or phone payment processing systems, like those offered by PayPartners, are being left in the dust over the holiday weekend.
Researchers expected this weekend full of sales to be record-breaking, and their thoughts were accurate. Overall sales skyrocketed, but in comparison to 2018, the number of shoppers making purchases in stores sunk by 6.2%, which is not a small amount when considering how many people that accounts for. Black Friday can be hectic and even dangerous when shopping in-store, so many individuals have turned to their device screens to make purchases from home. Shopping online allows consumers to easily compare prices and find better deals. What this means for retailers who do not sell inventory online or only accept cash is potential losses over the post-Thanksgiving weekend. Working with a company such as PayPartners will keep a business in the running for profits from Black Friday. These stores can also participate in Cyber Monday, which is focused on shopping solely via the internet. PayPartners offers strategies and technology for running secure online retail websites to capitalize profits. One concern that arises nearly every Black Friday weekend is the chance for hackers to steal personal information. PayPartners goes above and beyond the required safety regulations for protecting consumers’ privacy during retail transactions, so retailers and buyers can rest assured during the sale weekend. With efficient mobile payment processing, stores can minimize line wait times, which is a big concern for customers. Holding up a phone to use Apple Pay or Samsung Pay takes a few seconds, compared to the time it takes to dig around for a credit card or cash. There are many strategies that businesses can use to improve the outcomes of Black Friday and Cyber Monday, in terms of both customer service and profits.