Walmart beats Amazon in Black Friday searches
Walmart was the most searched online retailer this Black Friday, besting e-commerce rival Amazon, according to data by ad tech firm Captify.
Why it matters: The research suggests budget-conscious shoppers are hungry for deals and they’re more likely to gravitate toward online retailers that are serving them discounts, especially in this inflationary environment.
The latest: Captify’s ranking of most searched retailers online during this period shows Amazon behind Walmart, Target and Kohl’s this year.
State of play: Amazon projected slower sales growth of 2% to 8% versus fourth quarter 2021.
- Target and Walmart also expect a softer holiday season.
- Holiday sales are expected to grow between 6% and 8%, slower than last year’s record 13.5% pace, according to the National Retail Federation.
- Adjusted for inflation, that projection indicates that holiday sales could be flat, or declining.
Yes, but: Higher promotions and discounts could eat into retailers’ profits as they try to rein in excess inventory and win customers.
What we're watching: The data align with expectations that economic concerns could drive a muted shopping season.