For the past ten years Black Friday has been the most popular shopping day of the year by far, constituting the start of the Christmas shopping season. During the last couple of years the day has also entered the markets of Europe, Asia and Canada where it seems to be gaining new ground every year, above all through the online commerce.
But at the same time, the day has been on the decline in the US, its country of origin, writes Forbes.
- It’s estimated that in 2014 consumers made $50.9 billion dollars’ worth of purchases – an 11% drop from the previous year and the lowest figure since 2010, but still the biggest shopping day of the year in the US by a margin, writes Edmund Ingham in Forbes.
Deals for Several Days
He explains several American department stores have slightly moved away from the idea of one big shopping day. Instead they are offering deals on Thanksgiving or even a few days before.
UK might be the strongest European market in terms off Black Friday sales, but while British media speculates on whether Black Friday will outgrow its online equivalent, Cyber Monday, Forbes stays positive Cyber Monday is when many e-commerce retailers will put in most of their efforts:
- Black Friday has begun to take off in India, Canada, Mexico, Europe and the UK, as has “Cyber Monday”, a term invented in 2005 to describe retailers who were too busy to shop over Thanksgiving hunting down bargains online the following week. these are the customers Amazon, Argos Flubit.com and others will do battle for. Cyber Monday’s online sales grew 17% to over $2 billion last year– the busiest day of the shopping year.