With the holidays being as chaotic and stressful as they are – it seems just as so for retailers – who has time to track down how much their competitors are charging for products in near real-time? 360pi did. In fact, 360pi put together a full report addressing this question and several others that retailers may be wondering, including:
- Number of Price Changes Per Day, By Retailer
- Amazon Prices Leading Up To and Including Black Friday
- Consumer Electronics Retailers – Price Changes Leading Up To and Including Black Friday
- Consumer Electronics Online Pure Plays vs. Multichannels (Using Amazon as Baseline)
- Percentage of Amazon.com’s Product Assortment Where Amazon.com Had the Lowest Online Price
In this particular segment, we are addressing the highly sought out question – did retailers increase or drop their prices over the holidays? Are Black Friday and Cyber Monday myths?
In the chart referenced below, which includes 18-day coverage leading up to and including the holiday weekend, 360pi’s analysis revealed that the widely-held notion that retailers discount both broadly and deeply on Black Friday may be more perception than reality.
Among the majority of monitored retailers, average prices did not change significantly on Black Friday, and in many cases actually increased compared with the day – and even the week – prior. As can be seen in the chart below, four out of seven major multichannel mass merchants actually raised their prices for the sampled assortment on Black Friday, including Walmart which, along with Target and J&R, continued an overall upward pricing trend beyond Black Friday into the four days following.
For a full report highlighting some major price trends for several mass retailers over the holidays, click here.