End of the year festivities such as Christmas and New Years are approaching, more reasons to shop for your close ones and also for yourself.
One event not to miss out is of course “Black Friday”.
What is “Black Friday”? This is simply a day of deals that happen every year on the last Friday of the month of November right after Thanksgiving day.
Online retailers are mostly known to have adopted this ritual to attract customers onto their websites shopping for gifts.
This strategy was set to entice people to get started with their Christmas shopping either Online or physically at the store.
Let’s take a look at the Impact of Black Friday across all competitive markets in Online sales:
- US Online sales: £1.721bn
- UK Online sales: £966m
- Germany Online sales: £281m
- France Online sales: £159m
- Canada Online sales: £57m
- Italy Online sales: £45m
- Spain Online sales: £38m
- Netherlands Online sales: £26m
- Belgium Online sales: £19m
It is apparent to see that the United Kingdom is Europe’s biggest Black Friday market compared to other countries.
There are other occasions that also affect how people spend during the end of the year. Let’s take a look at the different events and the effects of Black Friday in the UK market:
- 2015 predictions shows an encouraging increase from £810m to £1.07bn for Black Friday
- Cyber Monday, an official £720m in Christmas sales compared to a predictive £943m in 2015
- Boxing day, typically a British holiday after Christmas day where UK Retailers announces Sales. The predictive figures show an increase from £702m to £856m in 2015
If facts & figures keep in line with the predictive data, the UK will except to gain a whopping £1bn in 2015 in customer spending.
Some retailers have not waited till Friday 27th to announce their Black Friday campaign but have decided to launch theirs through their own strategy. Here are a few examples of online retailers that have started doing this:
Amazon’s way of handling Black Friday is pretty straight forward. Limited supply of deals are updated every 5 minutes ranging from Electronic goods to Jewellery and many more. A very convenient way from Amazon to attract customers to start shopping from the comfort of their homes.
With deals ending on December 1st, Argos want to outperform their Black Friday 2014 record for 2015. As you can see below, this is what happened last year where predictions above are likely to become reality.
Due to the recent attacks in Paris, most retailers have decided to rename their “Black Friday” to something else. This is the case for Amazon France, where they have called theirs the “Cyber Week”. It’s more or less the same principle of Amazon UK’s strategy. Limited supply of deals updated every 10 minutes with the best offers ending on the 30th of November.
Online retailer such as Cdiscount didn’t want to let Amazon.fr take over this advantage and have also renamed their “Black Friday” to “Les jours spectaculaires à petits prix” with a wide variety of products at a discounted price, some up to 75% off.
Let’s see how Black Friday will affect different markets as well as the UK and if this will have an impact on consumer spending. Will this be as promising as the predictions have looked? Will the UK break the £1bn mark? Will the renaming of “Black Friday” in France have an impact on consumer spending?
Be sure to find out with Net-Veille Systems.
Moreover here is a sum up video of how shoppers have reacted when Black Friday has hit the UK.