INFOGRAPHIC: Black Friday & Cyber Monday Sales
Though the most popular US shopping festival is not going to fade away from the scenes anytime soon, a change in people’s preferences can clearly be seen. Black Friday is clearly shifting its identity. With more and more shoppers preferring online purchases, the number of in-house shoppers is dwindling steadily. Besides, the rising prices of gas, increased violence, and other similar factors are also affecting the interest of the people in in-store shopping. Some startling and surprising facts were discovered in some recently conducted surveys while at the same time the change in tradition can also be seen in the altered format of celebration.
In a survey conducted last year 35% of the participants revealed that they actually hate the festival while the percentage of Black Friday Shopping admirers could not reach even 15% (14.70% to be precise). Around half of the participants said that they don’t have any love or hate relationship with the occasion. In other words, they treated the occasion just like a normal routine.
Major reasons for people hating Black Friday Shopping are crowded shops and long lines. Besides, the selling frenzy often creates a shortage of physical stocks and it often results in fighting. Sometimes it causes violence and that is another reason why people have started hating Black Friday shopping.
Big leap for online shops
The loss of in-store shopping popularity is a big advantage for online shopping. In fact, the term has been here since 2005 to denote online shopping – Cyber Monday. With as many as 130 million American shoppers buying during Cyber Monday as compared to just 14 million shoppers who opted for in-store purchases, a clear swing in online purchasing can be seen. However, one should also keep in mind that online physical stores do not have to face limitation in terms of space or people management that can be a major disadvantage in a physical store. During the last decade, the total number of online sales skyrocketed. In 2006 the total sales volume on Cyber Monday was $610 million while last year the total sales were recorded at $3.02 billion! And it will only continue to grow.
Why do people prefer Cyber Monday
Convenience and better comparison remain the major reasons for people preferring cyber Monday over Black Friday. Doorstep delivery, COD, and return facilities are other advantages of online shopping that encouraged people to rather spend their money on Cyber Monday. 5 Major players of Cyber Monday are Target, Wal-Mart. Kohl. eBay and of course Amazon.
Infographic Credit: EverData
The Christmas shopping season will start before long with “The day in the wake of Thanksgiving,” the clamoring shopping day in the wake of Thanksgiving in the US. Meanwhile,”
There’s no denying that Black Friday and Cyber Monday have changed retail, from both the retailers’ and customers’ points of view.
Inability to get drew in with offering cut esteem offers and discounts can influence the retailer to pass up a great opportunity custom to their adversaries yet masterminding is required to keep the accentuation on advantage over arrangements volume.
This demonstrates the rising significance of retail occasions like Black Friday and Cyber Monday. As these occasions are developing in prominence, to a great extent filled by web-based business patterns, it has turned out to be increasingly basic for the cutting edge retailer to coordinate and synchronize deals and showcasing endeavors as needs be.
This infographic from Fullestop exhibits the enormous impact of the shopping spectacle following Thanksgiving and the Monday following Thanksgiving have had on the retail scene.