What is Black Friday history and how could your brand benefit from it?

What is Black Friday history and how could your brand benefit from it?


Black Friday - how could your brand benefit

Black Friday history: how could your brand benefit from it?

Black Friday history

We all heard about Black Friday deals, apps and endless sales. But where did it all commence? And what are the real stats? Black Friday marks the beginning of the Christmas shopping season starting from a day after Thanksgiving celebrations in the US. ‘Black Friday’ was linked with one single day of the year when retailers  supposedly used to go “into the black” meaning make a profit. Apparently before retail shops used to operate making loss (“in the red”) until the Christmas time when shopping boom started and when consumers would overspend buying gifts.

Although the beginning goes to 1950s in Philadelphia, today it’s not only an American nationwide tradition but also more of a worldwide shopping bonanza with endless Amazon, Walmart and other deals. And although initially Black Friday was marked by a mass descent of shoppers to malls opening early at 4am or 5am, today it’s also a digital craze with endless emails campaigns, websites, flashy ads as well as Black Deal apps all promoting sales for online shoppers. Some started calling it Cyber Week as a term to describe activities to encourage people to shop online post Black Friday.

 

Is Black Friday the biggest shopping day?

Today we’re starting to see a mix of deals all merged into e-commerce campaigns around Black Friday-Cyber Monday. But what is Cyber Monday then? It’s immediately after Black Friday and is based on a trend recognised by retailers. Many consumers, who were too busy to shop over the Thanksgiving weekend shopped for bargains online that Monday from home or work.

But how many people actually take part? Last year in the USA 154 million people went shopping. Out of this nearly 100 million bought in brick-and-mortar stores and 108 million did their shopping on the internet. (National Retail Federation)

And what’s interesting, apparently it’s not Black Friday that is bigger but Cyber Monday! In 2016 in the US, Cyber Monday won against Black Friday, with sales totaling $3.45 billion a new record and just ahead of Black Fridays $3.34 billion (CNET).

But finally is Black Friday the biggest ecommerce day in the world? According to latest stats there is a new contender November 11th known as Singles’ Day in China. It’s now the biggest shopping day across the globe. In 2016 $17.8 billion of sales were made on this day up from $14.3 billion in 2015. Cyber Monday and Black Friday online sales combined were actually just $6.37 billion in 2016. (Forbes)

 

Black Friday 2018

When many companies are busy with last minute Black Friday 2017 preparations (reminders, emailing campaigns, logistics and stock, customer experience etc.), there are still many who hasn’t benefitted this year. Whether they were too late to organise it, lacked visibility of their offers or simply had no systems to put it all in place, they shouldn’t despair!

There are still 365 days left till Black Friday 2018 and with new generation of technology it’s possible to create scalable and easy to change and analyse apps full of Black Friday offers and vouchers. All of this without in-depth programming knowledge, integrated in existing systems, linked with existing company digital magazines, employees mobile training courses and more. Or standalone, one off app hubs to generate buzz, clients and revenue of course taking advantage of these now really famous Black Friday-Cyber Week deals.  Get in touch if you are interested.

And if you want to see how others already used our tools to create their interactive magazines and product demos apps, check our Natuzzi app of the month article.