The Black Friday sales run from Thanksgiving to Cyber Monday and see a Huge Surge in eCommerce Activity
Traditionally a US event, Black Friday weekend has gone global, with customers as far away as the UK taking advantage of low prices. Momentum begins on Thanksgiving, with early Black Friday seeing a flood in online traffic, and ends on Cyber Monday, making late November a key weekend for International retailers.
Here are 9 things every retailer should know about Black Friday:
- In 2008, Thanksgiving online sales amounted to 288 million USD, and Black Friday online sales hit 534 million USD, by 2015 these figures had rocketed with Thanksgiving online sales reaching record highs of 1.1 billion USD, and Black Friday reaching 1.7 billion USD.
- Shopping times show that bargain hunters are online as early as noon on Thanksgiving, with peak times landing between 6pm and midnight on Thursday evening. 17% of consumers intend to shop between 6pm-midnight.
- In 2015 figures for the UK, online spend increased by 259%, online shoppers increased 102%, transactions increased by 118% and the average spend increased by 80%.
- 72% of shoppers in the UK shop on Black Friday because of pricing, with 28% of these using it to get Christmas Shopping completed.
- Discounts vary, but clothing tends to be consistent, with the average children’s clothing reduced by 43%, men’s clothing by 24% and women’s clothing by 19%.
- Stocking up on sale items is vital as most retailers will offer to deliver goods within 5 days. 32% of retailers offer next day delivery and 58% claim delivery will occur between 2-5 days. The majority of customers pick home delivery, but 14% of UK shoppers decided to go Click and Collect.
- Customers are selective, and the average bargain hunter intends to visit no more than 4 shops (including website and physical).
- Black Friday sees 26% of all mobile online traffic landing on retail pages, with 40% of online sales being made through mobile. In the US 44.7% of mobile device traffics lands on retail sites.
- Popular brands on Black Friday include John Lewis who see a 254% spike in sales and ASOS who see a 181% spike in sales in the UK alone.