Ethan Chernofsky, senior vice president of marketing at Placer.ai, discusses the potential impact of Black Friday and the holiday shopping season on retail sales in 2023. Despite a slow start to the season due to ongoing inflation and high interest rates, retailers are still hopeful for a strong performance. According to Chernofsky, this year’s consumers may have already started their holiday shopping earlier than usual.
In addition to traditional brick-and-mortar stores, discount and dollar stores continue to outperform other sectors as they attract shoppers looking for both essential and discretionary products. Surprisingly, office supplies are also holding steady in comparison with last year’s numbers.
Chernofsky emphasizes that while Black Friday is still an important event for retailers, it is no longer the sole indicator of success during the holiday season. With an “extended” shopping period now becoming more common among consumers who prefer different experiences when it comes to their holiday purchases.
Overall,the changing landscape presents new opportunities for retailers as they can create excitement and urgency through various strategies throughout this extended period.”
