Fascinating Facts About Black Friday
The modern retail phenomenon known as Black Friday is almost upon us, and we all know what that means – deals, specials, and savings that you do not want to miss! Of course, recent years have also given us Cyber Monday and Cyber Week to look forward to.
Black Friday, which is on 29 November 2019, and Cyber Monday, 2 December, are two sides of the same coin. The first tends to focus on offline retail in physical stores. The second, much like the awesome casino games
you can play at Ruby Fortune, takes the action online. As we’re sure you can imagine, the facts and figures around the most anticipated shopping days in the US, Canada and an increasing number of other countries are simply astounding. Here’s the juicy stuff.
The Obligatory History Lesson
Black Friday is the popular name given to the fourth Friday of November. This also happens to be the day after Thanksgiving. Since 1952, the day has marked the start of the Christmas/holiday shopping season, although the famous moniker had not yet been coined.
The first use of ‘Black Friday’ appears to have been in 1961 Philadelphia, but the term was not associated with retailers ‘being in the black or the red’ until two decades later. Instead, the usage was far more ominous – it referred to the chaotic mass of people and vehicles that congested the city on the day. The association with retailers’ accounts only happened during the materialistic 80s. No surprises there, really.
Cyber Monday was first used by Shop.org, a division of the National Retail Federation, in 2005. In 2003 and 2004, retailers realised that shoppers who either were not able to go to the shops on Black Friday, or who did and were disappointed with the results, indulged in some retail therapy on Monday. Comscore reported that the Black Friday and Cyber Monday online spend was at $6.22 billion in 2018; a 28% increase on 2017’s figure.
Who’s Doing the Shopping?
Right, so who is spending all that lovely lolly on Black Friday
? According to a survey, 50.4% of shoppers identify as female, and 45.1% as male.
What makes it even more interesting is that 53% of the total number of shoppers are Millennials. Hot on their heels is the 49.5% made up of Generation Xers, while the Boomers doddle along in third place at 27%. Significantly, 68% of them shop online as well as or instead of in store. Oh, and believe it or not, 12% of shoppers were drunk on the day.
What Is Everyone Buying?
Given the cost of high-end tech and smart appliances and tools, you would think stuff like that would be relatively high on Black Friday shopping lists. Sorry to disappoint you, but 41% of shoppers will be heading to the clothing section. 38% of respondents said they look for smaller appliances and home items, while 32% preferred TVs, computers, laptops, and tablets.
Only 30% of shoppers said they would be interested in smart gadgets for the home or in smart technology. An incredibly brave 25% said they would face the forces of hell, also known as the toy section. 12% said they focus their Black Friday spend on travel or other experiences. 3% said they spend their money on Other Things they’re presumably too shy to mention.
When Do They Go Shopping?
Apart from prioritising shopping lists, the biggest question many shoppers wrestle with is when to go to the shops, and when to avoid them like the plague. The easiest way to know how to avoid a crush of people is to know when everyone else plans to go.
61% of survey respondents shop on Black Friday itself, while 50% also shop on or wait until Cyber Monday. 43% said they will make their purchases during Thanksgiving Week, while 23% indicated that they will take advantage of Small Business Saturday. The busiest time in stores on Black Friday is 4pm.
Preferred Online Shopping Method?
If you are wondering how those shoppers who intend to do their Black Friday and Cyber Monday shopping online intend to do it, we have the answers (thanks to the survey). 49% will use their computers, and 18% will use a mobile device. 33% also wanted to be doubly sure that everyone knows they also plan to shop in store.
How Much Will They Spend?
The predicted average planned Black Friday spend per person for 2019 is $502, which is $30 up on 2018’s average spending.
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