Black Friday continues to be the most popular shopping day on the planet, with most of it in retail outlets. In fact, 16% of consumers head to stores and 75% do a mix of online and in-store shopping Tweet This!
Black Friday is just a few weeks away, with shoppers and retailers everywhere gearing up for the event. Many have a love/hate relationship with it. On one hand, it can drive some major sales for businesses and customers can get some great pre-Christmas bargains. Yet, its popularity and size cause challenges for businesses as well. Notably in managing the scale of a Black Friday sale, of standing out from the crowd and meeting customer expectations. Izaac Crook, AppInstitute
Why Is It Called Black Friday?
You may have heard the term black refers to accounting and it’s the day that retailers finally get out of the red and make a profit with their company. I’m not so sure that’s the case… and it may have been a tale spun to black out its origin. In the sixties, as everyone headed out to their favorite store or mall, bus drivers and police in Philadelphia called the day Black Friday in reference to the smog that fell upon the city.
Black Friday has evolved with technology and typically covers the entire weekend. As well, we’ve added Cyber Monday and #GivingTuesday to the mix. Ecommerce companies are well-aware that shoppers are heading out to make purchases, so they ramp up the hype and sales online to drive their own sales and profits.
Some Black Friday Statistics:
- Smartphone shoppers made up 64% of Black Friday sales in 2017 Tweet This!
- 45-50% of online sales were on Amazon earning over $1 billion in 24 hours Tweet This!
- In terms of gender, it’s almost a 50/50 split. 50.4% of females shop on Black Friday compared to 45.1% of males Tweet This!
- Consumers will often start their shopping early, with 80% of shoppers doing some kind of research into things they want to buy before purchasing. Tweet This!
- In the UK, 2017 sales jumped by 11.7% to just under £1.4 billion Tweet This!
Either way, with Christmas just around the corner, it continues to stand out as the largest shopping day in the United States… and perhaps the world. Even non-Christians participate in gift giving over the holidays and end of the year.