walmart top of mind for holiday shoppers hunting for Black Friday deals, according to new research.
The big box retailer is dominating online searches for Black Friday discounts as of Friday morning, according to ad technology company Captify, which tracks more than 1 billion searches per day from websites worldwide.
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Searches for Black Friday discounts at Walmart increased 386% year over year, surpassing rival retailers Amazon, which ranked first in Captify’s survey of most searched retailers on Black Friday last year. This year, the world’s largest e-commerce company was fourth, behind Target and from Kohlrespectively.
Retailers are vying for the eyes and pockets of shoppers at a time when the Christmas shopping season is expected to be more subdued than in years past. Americans are expected to cut back on holiday shopping this year as skyrocketing inflation squeezes their purchasing power.
The National Retail Federation said it expects holiday sales in November and December to rise between 6% and 8% over last year, a decline when the effect of inflation is taken into account. According to Adobe Analytics, online sales in the months of November and December are expected to grow a mere 2.5% to $209.7 billion, compared to an 8.6% increase a year ago.
Early signs indicate that the season may not be as bleak as predicted. Online sales rose 2.9% on Thanksgiving Day to $5.29 billion, according to Adobe Analytics. That’s slightly higher than estimates for holiday growth.
Black Friday is expected to generate $9 billion in online sales, up 1% from the previous year, according to Adobe.
Shopify merchants saw a solid start to the holiday season. Businesses hosting their online stores on Shopify made $1.52 million per minute on Thanksgiving Day, according to the company.