DULUTH,MN– Numbers are expected to soar this Black Friday according to Ahmed Maamoun a Marketing Professor at the University of Minnesota Duluth.
“This year, for example, we are expecting 168 million people to spend 12 billion dollars in 24 hours,” Maamoun said.
For the first time, ever more than half of that 12 billion dollars in revenue will come from online sales, cell phones playing a key role.
“Analysts predict that purchases on smartphones will hit an all-time high of $3 billion just this year alone,” Maamoun added.
Consumers are preferring online because of its convenience.
“Usually I’ll do online shopping rather than come to stores it’s just more convenient and quicker to browse your selection it’s just much easier,” Anthony Kovacovich a Black Friday participant said.
While it’s difficult to measure the impact Black Friday has on local economies small businesses Saturday has been providing a shot in the arm for nearly ten years now.
“If you save some of your holiday shopping dollars for small business Saturday which is November 30th this year it’s a great way to help the local community and grow the local economy,” Maamoun added.
The small business Saturday insight survey reported that in 2018 17.8 billion dollars was spent nationwide.
That number surpassing this year’s Black Friday projections which bodes well for brick and mortar stores in 2019