Black Friday. The sales that cause all of the bargain hunters to come out in their masses in an attempt to get the best value for their hard-earned money. Traditionally, it is the day that falls after Thanksgiving in America, commencing the Christmas holiday shopping season.
Retailers use this day as a way of heavily marking down the prices of their products to entice customers. Sales occur both on and offline, meaning that both online shoppers and those who prefer to head to the shops themselves are able to benefit from the discounts. Usually, sales last until the following Monday – Cyber Monday; although some retailers have different types of offers on each of the 4 days. Retailers have the freedom to discount in any way they wish; giving them the power to be as competitive as they like to drive online sales.
Why is Black Friday good for online retailers and eCommerce websites?
For retailers, ensuring that you take advantage of Black Friday and the consumer drive for products is essential for increasing your sales. Many retailers report making enough sales to put them in the black for the year. Determining the type of discount that will work best for your business and understanding just how to shape your eCommerce website and your deals to appeal to the largest amount of people is a skill worth mastering in the run-up to the big day. Whether you offer a percentage discount across your entire website or else just individual discounts on products is more suited for you; getting involved with Black Friday is a little bit of a no-brainer, as far as common sense is concerned.
Black Friday 2018? How successful was it?
There’s absolutely no denying that Black Friday is a serious holiday; so if you’re an online merchant or have an eCommerce site; you should be taking full advantage of it. In 2018, Finder revealed that the average adult in the United States spent $483.18 – a total US-wide spend of over $90 billion, while the average person in the UK spent £202 (https://www.pwc.co.uk/industries/retail-consumer/insights/black-friday-cyber-monday.html). Adjusting your own personal marketing strategy to ensure you fully benefit from this pool of spending is advised; you wouldn’t say no to a little Christmas prosper, after all? 88% of men say that they’re likely to attempt shopping during the Black Friday weekend at some point compared with 85% of women – both genders more than willing to shop until they drop!