Stitch Labs revealed today that, despite falling short of expectations, Black Friday does not define the entire holiday season for small retailers. Black Friday only accounts for about twice the sales volume of any typical day in November, and other days have shown promising impact on the holiday selling season.
SAN FRANCISCO, CA--(Marketwired) - Stitch Labs revealed today that, despite falling short of expectations, Black Friday does not define the entire holiday season for small retailers. Black Friday only accounts for about twice the sales volume of any typical day in November, and other days have shown promising impact on the holiday selling season.
For example, sales have shifted to earlier in the weekend, with Thanksgiving Day's share of sales increasing by 38% from last year. Additionally, after the Black Friday weekend, Stitch Labs data also shows that sales in the first six days of January 2014 were higher than those from Thanksgiving, Black Friday, Small Business Saturday and Cyber Monday of 2013, combined.
Additional findings include:
- In 2014, 14.8% of sales during the Thanksgiving Day weekend were placed on Thanksgiving Day, up from 10.7% in 2013.
- In 2013, Cyber Monday sales made up 37.4% of all sales during the Thanksgiving weekend. This fell to 29.2% in 2014.
- In 2013, Cyber Monday orders made up 34.8% of all orders during the Thanksgiving Day weekend. This dropped to 28.8% in 2014.
- In 2014, on average, products sold over the Thanksgiving Weekend were 5.8% cheaper than when sold during the remainder of November, down from 7.4% in 2013.
"For big box retailers, Black Friday elicits such an overwhelming response from consumers. But this is not what we're seeing among small retailers," said Brandon Levey, CEO of Stitch Labs. "We want to make sure these retailers understand their unique sales trends and can optimize for their true selling season."
Stitch Labs, is the leading inventory and multi-channel selling solution for small and mid-sized businesses. Data used for analysis was based on orders synced with Stitch Labs from November 1, 2013 to December 3, 2013 and November 1, 2014 - December 2, 2014, which is an aggregation of 3M orders, totaling more than $175M in sales from more than 5,000 small businesses, spanning a wide range of products.
To learn more about how Stitch Labs' inventory control solution helps retailers make smarter business decisions during the holiday season, please visit www.stitchlabs.com.
About Stitch Labs
Since 2011, Stitch Labs has been creating software that simplifies commerce, decisions, and life for retailers and wholesalers. The intuitive Stitch Labs platform streamlines inventory, orders and data across multiple channels. It also delivers the most robust integrations with top commerce applications such as Square, Amazon, eBay, Etsy, Shopify, Quickbooks, Xero, BigCommerce and others. To learn more, visit www.stitchlabs.com or reach out to our team at [email protected] or on Twitter at @StitchLabs.