Initial Stats & Figures From Thanksgiving, Black Friday & Cyber Monday 2021
The five-day period between Thanksgiving and Cyber Monday serves as the traditional kickoff of the holiday season. It sets the tone for the entire season and offers insight as to what retailers should expect.
At first glance, the 2021 holiday season kickoff might seem discouraging…if not disastrous.
Overall sales for the holiday weekend were up slightly. However, eCommerce traffic and spending actually decreased for the first year ever.
It’s not as bad as it looks, though. Sales for the holiday weekend came at the end of what had been an already unusually a strong sales month. Consumers spent 20% more in the period between November 1 and November 28 than they did last year in the same period. So, consumers were spending…they just weren’t waiting for the traditional shopping weekend to do it.
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What else can we learn from looking at the initial stats and figures tied to the 2021 holiday kickoff? We’ve identified some trends, statistics, and key takeaways based on the data that you can use to make this a winning season, and to keep that success rolling long after the holidays are over.
7 Key Holiday Takeaways You NEED to Know
The retail industry is still dealing with ongoing pandemic struggles. Add to that some global supply chain issues and a nationwide labor shortage. All things considered, it’s not surprising that retail has yet to completely recover to pre-pandemic levels.
Like we said earlier, though, the news isn’t all bad. The figures above show plenty of signs pointing to a successful holiday season for eCommerce merchants. That said, it’s going to take extra consideration, even after the new year starts.
So, what are the key takeaways you need to know?
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Every chargeback filed against you means you lose revenue, merchandise, and overhead. You’re also responsible for paying costly fees.
Plus, our internal data suggests that 60-80% of all chargebacks are actually cases of friendly fraud. This scheme works by allowing cardholders to hide their true motivations behind a false chargeback claim and claw back their money without a valid reason.
Merchants like you are going to lose tens of billions of dollars over the next few months due to completely unjustified disputes. You need to take steps now to ensure that you’re protected.
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When it comes to chargebacks, the best defense is a good offense.
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Give yourself a holiday gift that will last all year. Contact Chargebacks911 today and give chargebacks the heave-ho ho ho.