Black Friday: A Black Hole for Consumer Love (Infographic)
December 5, 2014
Black Friday is the most important date for American retailers. This Thanksgiving weekend, consumers spent an estimated $50.9 billion dollars.
However, the Black Friday tradition of lining up outside stores at early hours seems to be fading. Since 2013, retailers have opened on Thanksgiving Day, and the rise of Cyber Monday and online e-commerce platforms have spread out shopping times, reducing the craziness of Black Friday. This year, the number of in-store shoppers declined by 5% to 133.7 million, while online retail shopping rose 23%.
To better understand the customer experience of shoppers this year, we used Clarabridge to analyze over 2 million social media mentions of Black Friday leading up to (and during) the big event to identify the strengths and weaknesses of 15 of the top retail brands. We discovered how big brands can use social media to monitor customer sentiment about Thanksgiving openings, product availability, and the effectiveness of social care agents. We also uncovered the winners and losers of Black Friday from a customer experience perspective. Here’s what we found:
Dheepan Ramanan is a data scientist at Clarabridge. Follow him on Twitter @DheepanRamanan.