Black Friday and Cyber Monday
We all know how crazy Thanksgiving and Black Friday shopping can be, but did you know that from 2017 to 2018 in-store shopping dropped by almost 10%? With the competition of Cyber Monday and the prevalence of digital-savvy shoppers, it seems as though people are sleeping in instead of going out for deals. But what are you doing to capitalize on this discount holiday?
Oddly enough Black Friday and Cyber Monday might not be as old as you think. History.com Black Friday dates back to the late 1800s but it didn’t spread as a discount holiday term till the 1980s. While Cyber Monday actually started in 2005.
The National Retail Federation reports that this year 165 million people are expected to brave the crowds this weekend or shop online. ,
NRF President and CEO Matthew Shay said, “The tradition of Thanksgiving weekend holiday shopping has become a five-day event with consumers spending money in stores, supporting local small businesses, and online with their mobile devices and computers.”
NRF continued with broken down statistics explaining who’s planning to shop where. 39.6 million shoppers are planning to brave the crowds on Thanksgiving day. Though when it comes to Black Friday the number of shoppers almost triples with over 114 million shoppers working to fulfill wish lists.
While as far as consumers are concerned Black Friday only takes place at the end of November, retailers have sent much time in preparation for the holiday sales. Past Cyber Monday sales have made companies a collective $7.9 billion in online sales.
MarketingLand notes that this season is one of the biggest lead-ins for email marketing strategies. Email marketing is highly popular during this time of year and could be a potential reason for Black Friday’s decreasing popularity.
If your reading and you’re realizing that you haven’t capitalized on this weekend of sales, you might be out of luck. While coming up with a discount strategy might be a little out of the realm of possibility now, coming up with a plan of action for the coming years could prove highly profitable.
For start-ups that are still finding their footing, try running a free giveaway or adding a discount code to your products for the weekend! You might find an inbox full of orders on Monday!