Black Friday History
Black Friday after Thanksgiving is an official start of the annual shopping spree. The Black Friday history goes back to the beginning of the XX century. It originated in the USA, in the state of Philadelphia. The origin of Black Friday as we know comes from a very simple technique of the XX century accounting. The true Black Friday origin is rooted in the “black” color of ink, which was used by the shops to record their profits. As opposed to the red color of losses, which had preceded this shopping season, dark ink gained a celebratory Black Friday meaning. However, some investment bankers also claim that the history of Black Friday goes back to the second half of the XIX century when there was a stock market crash as investors were chasing gold reserves. One more story originated in the 1960s when there was a mass protest on the streets, thus the policemen deemed this day “Black Friday”. This day has the interesting history but now has come to mean the beginning of the annual Christmas shopping season.
5 Interesting Facts about Black Friday and Some Black Friday News
Do you think you know everything there is to know about this day? There are a few facts and Black Friday news, which will shock you and possibly even help you make your shopping experience on this day even more productive. Here they are:
- Last year, almost 13 million purchases were made online. They were made on Thanksgiving day. It’s a logical conclusion that there are some pros and cons of Black Friday meaning that users may experience Internet and banking issues on this day. Luckily, most sales start earlier than on Friday thus giving a chance to shop beforehand and not worry about the online crowds.
- It may come as a surprise but last year Black Friday fights were not popular among the consumers. More than 50% of Black Friday shoppers were looking for deals online. And more than 50% of the shopping population was searching for electronics and gadgets. This is an unanticipated behavior knowing that Cyber Monday vs Black Friday offers more electronic deals. This year a shift in behavior is expected and you have probably already stumbled upon sales popping up in your browser. So, we suggest to shop before Friday and leave the choice of your new gadget until the Cyber Monday Sales.
- Worldwide, Amazon and Walmart occupy the positions of top Black Friday online retailers. They offer a wide variety of consumer goods. However, this was last year. This year, you may also enjoy Black Friday promotions offered by many other retailers who have become popular in 2018, such as Alibaba Group (Aliexpress is one of them). Here are a few other popular Google search options since the last shopping season to gear you with some inspiration: Gotta deal Black Friday, Target Black Friday, and IKEA Black Friday.
- An average buyer spends from $300 to $450 on Black Friday online. This is definitely not the large portion of your budget, but with abundant Black Friday marketing campaigns, you can definitely save more than if you shop on any other day. So, expect marketers to target exactly this portion of your pocket money on this day.
- 90% of what is spent on Black Friday shopping is allocated to gifts, not products for oneself. However, it may be a good idea to buy that gadget you have wanted for a long time for yourself – a sale is still a sale.
12 Black Friday marketing strategies you should know
Of course, we all need to be aware of how Black Friday marketing is used to play with the buyers’ behavior. The best Black Friday promotions are usually created to attract buyers to make hedonic purchases. Here are some Guerilla Marketing techniques and other marketing ideas that are successfully utilized:
- Best Black Friday deals sent to emails: these are usually informative but also very motivational.
- Black Friday TV deals: we all hear those background commercials even when we go to the kitchen to make a snack in between the TV series. The potential buyers remember those Black Friday specials, which they really need, even if heard on the background.
- Black Friday hashtags: with Instagram and Twitter becoming the top social networks, the products recommended by social influencers are gaining popularity. What’s good about this tactic is that the buyer can actually see the product being delivered and unwrapped before they make a decision to buy it.
- Black Friday ads on Facebook: a great way to find suitable products on sale. However, anyone can post an ad on Facebook – so it’s tricky to be persuasive.
- Special “insider” Black Friday Sales: one example of such a deal is discounts offered by the employer only for staff.
- Video-based digital marketing: 55% of Internet users prefer video content – be it on Instagram or Facebook. It’s visual, it’s expensive, and it’s very effective. Buyers join their favorite brands’ fan pages, take part in contests, and want to get the best deals.
- Black Friday app abandoned carts: remember that a piece of jewelry you were going to buy but it was just a few bucks out of your budget so you just exited the website without buying? Expect a discount coupon in your email this Black Friday!
- One of the top Black Friday facts: mobile. The whole globe is going mobile. And not just Aliexpress but many retailers are offering better discounts for mobile offers.
- 48% of all buyers are millennials. Sadly, the Black Friday culture revolves only around the most profitable portion of the buyers. So, if you’re under 15 or a bit over 60 – you’re likely to be a minority this year, target-wise. Maybe it’s time sellers offered some good deals for minorities so they would flood the stores, too?
- Cyber Monday Sales: don’t dump electronics on Friday. Wait until Monday.
- Do you still care about that Black Friday date? Then stop and offer week-long sales to motivate your buyers.
- Brandy and trendy Black Friday matters: it’s the time to give a discount on actually expensive options.
Pros and cons of Black Friday for your business
A smart marketer is a skeptical marketer. He knows that crowds will rush into stores this day. So, he remembers that the coin has two sides for every Black Friday marketing strategy:
- Big sales are great but limited offers are even better because they destroy the chances of actually losing profits;
- The World market Black Friday goes nuts; it’s better to focus on a very limited niche to actually win in this market;
- Online marketing wins over brick-and-mortar; it’s cheaper and has a wider coverage;
- Black Friday Marketing ideas must be really extraordinary, even if you are selling something very basic like clothes;
- Customers are becoming more and more demanding towards the Best Black Friday promotions; however, they have less and less time to shop; which means that cognitive dissonance after purchases grows and they are more likely to be dissatisfied and return products;
- You should target loyalty in your marketing strategies because a loyal customer will create buzz and spread a lot of online word-of-mouth, which is important for your business;
- Start really caring about your customer: this year is all about service and shopping experience;
- Your sales and marketing is likely to happen without much of your control – online – so make sure every customer who leaves your store on this day has something good to say about your business;
- It’s not enough to be just average because the competition is rising; the business (and each employee) must really care about what they sell and how they sell it;
- One of the top marketing tips for 2018 Black Friday is using this day to communicate with your customer, rather than just making more profit than usual and clear the shelves; it’s all about relationship building and knowing your buyer;
- Be yourself, be honest, and be present. Make sure your online presence is unquestionable. Your customer will find you through social networking, beyond any doubt.
Black Friday inspirational quotes to get ready for shopping fever
Below are a few Black Friday inspirational quotes to set the shopping mood for this year. Coming from your favorite movies and series, these Black Friday sayings are used widely and will help you gear for this year’s shopping craze.
- Fashion is the strongest type of art because it’s able to demonstrate us as we are and who we’d like to look like;
- Shopping distracts from stress when you are so gloomy that can’t even face the world;
- Why would one shop? It’s the best type of cardio exercise;
- There are two goals that fashion serves: love and comfort. And beauty happens only when fashion is used properly and successfully;
- It’s not about how much money you have, but about what you can do with it and how much you can buy;
- When you shop, you should become free. Try those things on which you would never buy. You’ll be surprised;
- Shopping season is like a religion: we faithfully go to those shops that we know will make us happy.
So, it’s time to ask the question: does anyone know what is Black Friday? Tradition? Religion? Fashion event? Fun fact: Friday after Thanksgiving is definitely the time to get some cardio, shape up your fashion status, and get some much-needed household appliances. The best thing about this day is that we actually get some free time to shop, stock up for the upcoming holidays, and simply treat those important people with gifts. There may be many reasons why is it called Black Friday – traffic jams caused by crazy shoppers, huge amounts of purchases or stock market plunge – but, at the end of the day, it’s the best time to go nuts and buy away.