Conscious consumerism. Online sales on Black Friday dropped for the first time ever in the US in 2021, suggesting people are starting to question the unbridled consumerism associated with the event. The decline can be attributed to many factors, from the economic climate to consumers’ sustainability concerns, and a general fatigue with shopping events.
Black Friday has expanded to a month of cyber sales, and there’s an increasing number of similar events throughout the year, such as Prime Day and Singles Day. In reaction, this year 86% of UK independent retailers said they wouldn't participate, with some closing online stores for the day or donating profits to charity. This trend aligns with the rise of conscious consumerism, defined as “deliberately making purchasing decisions that have a positive social, economic, and environmental impact.
” We’ve also seen a rise in slow shopping - taking time to think about purchases - designed to eliminate impulse buys and encourage more intentional spending..
Conscious Consumerism
In 2021, US online sales on Black Friday dropped for the first time ever, indicating a shift towards conscious consumerism and questioning of unbridled consumerism associated with the event. 86% of UK independent retailers decided not to participate in Black Friday sales, aligning with the rise of conscious consumerism and slow shopping. The trend of conscious consumerism involves making purchasing decisions with positive social, economic, and environmental impact and slowing down the shopping process to eliminate impulse buys.
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