Black Friday and Cyber Monday 2018: are you ready?
Whether you are a costumer or a marketer here all the tips for you.
The calendar say that this year Black Friday will be Nov. 23 and Cyber Monday will be Nov. 26, but do you know everything about this two dates?
In USA there are 3 holiday in November: Thanksgiving, Black Friday and Cyber Monday. We all know what is Thanksgiving about: turkey! Not true, read more about it here.
And what about the other two? When did they start?
What is Black Friday?
Black Friday dates back to the 1950s, and it’s the day after Thanksgiving, the term was born in Philadelphia to describe the pedestrian and vehicle traffic the day after Thanksgiving.
On Black Friday, retailers offer special promotions and open their shops during the pre-dawn hours to attract more customers. They may spend a year planning this special day as consumers shop on Black Friday for the hottest trending items.
In the 2000s, Black Friday was designated as the biggest shopping day of the year. Nowadays is becoming a longer event, we could say: a Black Weekend.
When it comes to saving money we are all agree and there is nothing better than Black Friday to show up our shopping skills.
What is Cyber Monday?
Cyber Monday is younger than his brother, it was born in 2005.
The term was created by marketing companies to persuade people to shop online and it refers to the first Monday following the Thanksgiving Holiday weekend. Online retailers usually offer special promotions, discounts and sales on this day.
Major Cyber Monday Websites are: Amazon.com, Walmart.com, and Target.com
Tips to enjoy Black Friday & Cyber Monday
Some tips from Advice Global for customers:
- Do your homework: that means study the ads the weekend before and sign up to Black Friday websites that will send you deal alerts;
- Make a shopping list: List your items by order of importance;
- Get social: use the Facebook and twitter pages of your favorite shops to find out about the best deals;
- Plan your shopping trip: once you have a list you ll ve faster;
- Shop with a friend: fun is the most important thing! But never forget: Know what you can afford.
Some tips from Advice Global for retailers (eCommerce or physical stores):
- Send a Black Friday & Cyber Monday email marketing blast to your customers;
- Boost Black Friday & Cyber Monday Sales via Social Media;
- Add a countdown timer to have a faster sale action;
- Give some Coupon-Code.
Black Friday and Cyber Monday in numbers
The marketers all around the world are really excited because November is the Black Friday and Cyber Monday month.
The Black Friday started in USA in the 21st Century. We can definitely say that the first year was in 2002, when the total spent was 416,4 billion dollars. In 2017, during the last Friday of November consumers spent almost 683 billion dollars, which is a worldwide record about the money spent all in one day.
The second most important market for the event is UK. Black Friday was massive last year with the vast majority of US and UK retailers offering Black Friday promotions. In fact, 91% and 81% of UK and US retailers respectively participated in Black Friday celebrations.
According to the World Economic Forum article published last year post-Black Friday, US consumers spent a stunning £41 billion on Black Friday. On the other hand, UK consumers led Black Friday outlay in Europe with £7.8 billion spent, while Germany and France followed closely.
But there is more, Black Friday sales are becoming more relevant in the other countries as well: in Europe for example, the second best market after UK is Germany, with 7,6 billion dollars spent in 2017. With 6 billion dollars spent we can find in 3rd position France. The Italian online business is growing every year, that’s why we find Italy in the 4th position with 3,4 billions. Spain is now the 5th with 2,2 U$ Bln.
Is important also to mention smaller countries like Belgium and Netherlands. Benelux for sure has lower numbers (1,1 bln and 0,9 bln) but also they has few populations compared to bigger countries: Netherlands has 7 million people and Belgium 11. However, the online business is much bigger: the Benelux population is active online for the 60%, much more compared to the 40% of Italy and Spain.
Which was the best category (in terms of Sales) for the 2017 Black Friday? The 43% of the users budget went to clothes and shoes, 34% to consumer electronics (video and audio) and 31% Games, toys and dolls.
Black Friday is spreading and increasing in popularity. The implication for businesses is that competition increases. At the same time, thanks to online
shopping and new technologies such as website tracking and marketing automation, product recommendation systems, etc. markets become faster and
About this, we can give some stats: 71% of the global sales of 2017 are still coming from Desktop, 21% of Mobile, 8% from Tablet.
The Top 4 for the traffic providers were: Social Media, Cashback campaigns, Affiliate marketing and influences. According to some experts, we will see an
increase for the influencer marketing in 2018.
Alessandro Gherardi & Daniela Cozzolino