Black Friday Analysis: Why Retailers Should Pay Attention

Retailers should pay attention to Black Friday trends as they provide valuable insights into consumer behavior and preferences. The shift from in-store shopping to online shopping has accelerated due to COVID-19, with the biggest retail day of the year breaking records for online sales. Hot spot analysis using SafeGraph foot traffic data can help identify patterns of high and low concentrations of a variable, allowing retailers to evaluate holiday sales performance more effectively. The 2021 Black Friday trends indicate a recovery period between 2020 and 2021, with people still shopping closer to home. This shift in consumer behavior should prompt retailers to adapt their overall business strategy, particularly when it comes to trade areas and mobility data analysis.