Source: CNBC
Summary
According to a report by the NPD Group, summer sales are outpacing Black Friday and Cyber Week in terms of revenue growth. The report found that summer sales have increased by 15% compared to last year, while Black Friday and Cyber Week sales have only seen a 2% increase. The shift is attributed to retailers’ efforts to spread out holiday promotions and clearance sales throughout the year. Additionally, consumers are taking advantage of summer sales to stock up on essentials and discretionary items.
Our Reading
The trend returns with a new name.
Summer sales are the new Black Friday. Retailers are rebranding clearance sales as “summer sales” to create a sense of urgency. The strategy is working, with revenue growth outpacing traditional holiday sales. The NPD Group reports that summer sales have increased by 15%. Consumers are buying into the hype, stocking up on essentials and discretionary items. It’s just another example of how the retail calendar is being rewritten.
Author: Evan Null
