shopping event
Every autumn, the retail sector gears itself up for the shopping event of the year. Black Friday comes from the US and is traditionally held on the Friday directly after the Thanksgiving holiday. It also marks the start of the Christmas shopping season, so the focus is clearly on discount campaigns. Although largely unknown outside the US for many years, Black Friday has been held on a large scale in Germany since 2013.
worldwide
The worldwide shopping event is now typically also extended to include the Monday after the weekend, the so-called Cyber Monday. This day was originally promoted by online retailers in response to Black Friday, which was traditionally aimed more at brick and mortar retailers. However, Black Friday has now also established itself more and more as an online event over the last few years for those seeking out the best deals. As the name already suggests, the focus with Cyber Monday is on technical products such as notebooks, TVs, tablets or household appliances.
Target group
This year's event
The figures from last year suggest that the retail sector will once again be very busy this year. According to a survey performed by Global Savings Group, German shoppers spent an average of €105 on Black Friday in 2019. Young target groups and women were the most enthusiastic shoppers here. Over 57% of shoppers were female and 81% were younger than 44.
focus E-Commerce
Yet one thing is certain: the special sales days will be rather different this year. After all, social distancing rules are still in force, so merchants need to reduce the flow of shoppers through their brick and mortar stores, while establishing an even stronger eCommerce presence. To avoid huge crowds and long queues, increasing numbers of traditional Black Friday shoppers are therefore likely to do more of their shopping online.
challenges
Planning ahead
Merchants looking to get the most out of the shopping days should start planning well in advance. Within the scope of the altered conditions associated with COVID-19, the online shopping experience represents a massive opportunity to end the year on a high. In light of the rather restrained economic climate, as well as supply bottlenecks and changing customer behaviour, however, implementation of discount campaigns could present a particular challenge this year. This is why good planning is so important.