When Will Cyber Monday Overtake Black Friday?
If Black Friday is dad, Cyber Monday is the son
Cyber Monday is a commercial phenomenon starting in 2005, while the first black Friday dates back to the 1950s in Philadelphia.
Since the early 50s, Black Friday, one day after Thanksgiving, has been a tradition since then. It's the day when retailers launch huge discounts to attract more customers. It has changed from "one-day-deals" to a month of special offers during the last half-century.
Strategically Black Friday is a perfect day for all retailers to initiate the Christmas sale. As the world is becoming more digital, Black Friday and Cyber Monday are excellent opportunities for foreign companies to grab the "piece of the cake" of the vast U.S. market.
Black Friday 2022 will be on the 25th of November. Last year, the typical Black Friday offers started on Thanksgiving and continued into Cyber Monday, which always happens on the Monday immediately after Black Friday.
This year, Future Publishing estimates that Black Friday sales in the U.S. will reach US$ 158 billion. As an official start of the Christmas sale, retailers get an excellent opportunity to boost sales for the last weeks of the year.
Despite the impending recession, 76% of U.S. consumers plan to purchase something during these days of discounts. Their average purchase budget is US$574.
We know that tough times are approaching (see my article a few weeks ago,) but on average, people will spend a considerable amount of money these days
Black Friday, and now also Cyber Monday, have been extended to other countries as well. The ongoing digitalization makes erasing commercial boundaries easier and even more natural.
More people every year are making their Black Friday purchases online. But the total online sales on Cyber Monday are superior to the online sales on Back Friday...Continue Reading!>>
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