November 29th is coming and you should be ready for it. Why? Because it’s going to be Black Friday!
BF is a well known occasion for every retailer and consumer to get the best out of the holiday shopping season. On one hand, retailer and e-commerce players have the chance to improve their revenues. On the other, clients have the unique opportunity to start the holiday shopping while saving a lot of money by grabbing the best deals.
Thanks to its potential, Black Friday has grown exponentially. In fact, today it is an international event with a huge impact on the economy of every country. Even Cyber Monday is very important. Coming right after Black Friday, it does not have the same power or history, but it represents one further occasion of raising the revenues.
It’s clear that these two events are extremely important for every retail business.
Yet, what are the emerging countries for BFCM?
What should you expect from 2019?
And, most importantly, how can you be ready for it?
Since our goal is giving you all the resources necessary to be at the top of your game, we did a little digging for you. This is how we came up with this interesting article. Here, we will explain you everything you need to know about Black Friday and Cyber Monday. This includes: the latest trends, how the market grew and what are the key ingredients for a successful campaign.
Black Friday and Cyber Monday: the origins
Black Friday is the day after Thanksgiving. It takes place in November and is the day that sets the start of the holiday shopping season.
We are not sure about the origin of the term Black. Some theories say it comes from the way that Philadelphia police department used to define this day, due to street congestion. Another explanation is that in the past, accountants used black ink to register store profits (while red was for losses). All of this, way before the automation of accounting processes and the digital era.
Today, Black Friday is more than the day when people start to think about Christmas gifts. Is the occasion for both online and offline retailers to discount every category of products, offering clients cost-effective deals and rising revenues. While for clients, it’s the day where they can buy every kind of products they want at the best price.
While Black Friday can be dated back to the 20th century, Cyber Monday is way younger. It was created by retailers to motivate people to start buying online and it made its debut in 2005. Of course, since that moment its popularity grew and grew. In fact, today, Cyber Monday is together with Black Friday globally recognized.
How Black Friday and Cyber Monday changed throughout the years
When you think about Black Friday you immediately picture a huge mass of people waiting outside of a store, or fighting to get the last TV for a 57% discount. At least, it is what happens to the majority of people. Yet, today, Black Friday has changed and so did retailers. In the last years the market saw a hike in online purchase; most of them done via mobile.
People are buying more online, where they can see if the product is still available, and where they don’t have to struggle to buy what they want. This doesn’t mean that brick-and-mortar store have lost the game. In fact, there is a consistent slice of the market that likes to buy both online and offline during the Black Friday period.
Moreover, in the last two year we have seen a tendency of turning the two days of discounts into an entire week (Black Week or Cyber Week). And if the market keeps this way, it could even become an entire Black November.
What does it mean?
First, that we must expect a higher number of people shopping online on Black Friday. Second, that competitors will take advantage of longer sales periods.
In other words, you have to be ready way before Black Friday itself. And you have to take advantage of your being an e-commerce business.
If you will be able to leverage the comfort of shopping online, the upcoming Christmas season and the right deals, you will win competitors and customers.
Black Friday and Cyber Monday worldwide
Black Friday has a huge impact on the economy of the world. If you don’t believe us think about the $6.2 billion revenues made online last year on BF only. Not to mention the revenues of brick and mortar stores.
The market of Black Friday keeps growing. It’s clear if you look at the data gathered by Statista.
But is it growing steadily?
The answer is no.
In fact, there are some consistent differences among various countries and regions of the world. Google trends is very useful in this matter. It allows you to understand how the interest in Black Friday and Cyber Monday has grown worldwide.
The interest in BFCM worldwide
Black Friday was always historically an American event. It started in the United States, then spread to Canada and the UK due to the proximity (physical and cultural). As you can see from the graph, since 2004 the knowledge and interest in Black Friday kept increasing. But Google trends gives us even more useful information.
In fact, we discover which are the top 10 countries in terms of BF interest growth. They are U.S., South Africa, Romania, Canada, United Kingdom, Puerto Rico, Spain, Ireland, Hungary and Nigeria. Surprising, isn’t it?
The development of telecommunication and Internet allowed e-commerce and BFCM to grow exponentially. This means that you have new opportunities to expand your audience. It also means that you can leverage new markets where traffic has lower costs compared to U.S. and any other developed country.
Cyber Monday had a similar growth. Starting from 2005 it become more and more popular among the globe.
Yet, it is true that there are huge differences when compared to Black Friday in terms of numbers.
What are the countries where the interest in Cyber Monday grew the most? Cile, Argentina, U.S., Puerto Rico, Canada, Peru, Ireland, Ecuador, South Africa and Germany.
The numbers of BFCM worldwide
In the latest years we saw a growing interest for Black Friday and Cyber Monday. But that is not all. In fact, also the amount of money spent on shopping during the Cyber Weekend has changed.
In the following picture you see the money spent both online and offline in Europe, in the U.S. and in Canada. Of course, the amount spent in the United States is quite unbeatable. Yet, in terms of YOY (Year over Year) growth European countries as UK, France, Germany and Italy are the best performing.
Black Friday and Cyber Monday in Europe
Europe keeps getting more enthusiastic about Black Friday and Cyber Monday year over year.
In fact, last year we saw an increase of 129% in transactions on Thanksgiving. This was due to the fact that retailers started BF deals and discounts since the day before.
On the day of Black Friday transactions were 361% higher than average, influencing the entire weekend.
We are talking about the highest growth rate of BFCM when compared to previous years. In fact, from 2015 to 2016 the transactions number grew of 47% only during Black Friday. Only 1/7 when compared to the growth of last year.
What’s best is that the increase also affected the AOV (Average Order Value). People who used to spend 70€ average, spent instead almost 100€.
What we see is that even in the European continent mobile shopping keeps growing. 22% of online transactions were made on mobile devices.
All these numbers will grow again this year according to studies and statistics. This means that you should be ready to meet the market needs and desires.
But what are the winning European countries for 2019 Cyber Week?
It’s hard to tell exactly what will happen during the upcoming month of November, but we bet on South and Central European countries.
Romania, Hungary, Italy, Spain, Portugal, Bulgaria and Greece have a huge potential and could be the right places where to focus your business.
Why is that?
First of all, in Romania retailers have seen a sudden drop in sales during December. This is due to the choice of consumers to do Christmas shopping during Black Friday.
Second, in Hungary both the awareness of Black Friday and the shopping grew consistently. Studies show that Hungary is at the second place, after Pakistan, for the growth of sales during Black Friday when compared to regular Friday.
Third, Greece have started following Black Friday deals only since 2016, but the numbers are steadily growing, meaning that it’s one of the booming countries.
And the trend is the same in every country we mentioned.
The switch to online
As we already said, one of the main trends of Black Friday and Cyber Monday is the growing number of online purchases.
People are tired of going to brick and mortar shops and fight to get the best deals.
They are tired of leaving a store empty-handed, having to run to the next store or town to discover that all the deals have been sold already.
Thanks to online shopping they can know the price and the availability of that product right away.
This is why the number of online transactions has grown so much during the last years. Even more through mobile devices.
In other words, this is the right time to be an e-commerce business. Thanks to your online store you can now multiply your sales and revenues, and raise your AOV during an entire week (or more) by offering the best deals about almost every kind of product.
In fact, BFCM is not about tech products only, anymore. Now you can sell every kind of products, including sunglasses in November.
According to a survey this is the trend when it comes to product type.
It doesn’t matter what your niche is anymore, because now you can take advantage of Black Friday and Cyber Monday. So, be sure you don’t lose this unique opportunity to raise the bar (and the profit!).
Black Friday and Cyber Monday it’s better with uDroppy
Now it’s clear. Black Friday and Cyber Monday are a global phenomenon that you should leverage if you want to multiply your sales and revenues.
But how can you do that?
First of all you need to have a partner. A provider, that helps you with all the complex logistic processes, giving you the time to focus on running the best marketing campaigns.
In other words you need uDroppy.
We are a fully integrated platform that allows you to handle all your business with a click. We have all the services and resources you need to manage a successful business of e-commerce.
If you want to be ready for the Black week, it’s time to take action and get in contact with our e-com managers to plan your strategy.
You open your free account, you connect your Shopify store and you start testing our owned products. We have more than 2k owned products distributed in many different categories to better suit all your needs.
Doing Black Friday with dropshipping is possible. We take care of the shipping and delivery in 7-15 days worldwide. But if you want to reduce the timing you can choose to use our Virtual Warehouse service.
How does it work?
It’s simple, you buy products in stock lowering the unit costs of the products. We store them in our logistic center and then we deliver the products every time you receive an order. All you need to do is to fulfill the order individually as you receive them. And you pay the shipping costs only when needed.
This allows you to reduce the shipping times of 2-3 days.
To make your Black Week even better and give your customers the top level service they want, we have COD service. Cash On Delivery is the best way to raise customer retention, improve the reliability of your brand and multiply conversions up to 10X.
We can ship your products with COD in European countries like Portugal, Italy, Spain, Greece, Hungary, Romania and Bulgaria.
So what’s next?
You find all the information in your dashboard, at the bottom of the left menu.
Black Friday is almost here, and if you want to do it at your best, like a pro, you have to start now!
Black Friday and Cyber Monday are two of the busiest days for every e-commerce business. They give you the chance to expand your business, raise your revenues and improve your performance.
If you don’t want to lose this occasion you can count on uDroppy.
We always have the best solutions for your business, because our mission is to make e-commerce easy for your.
Reach out to your e-com manager and start planning your successful campaign for the Black Week!