Black Friday is here and it will take place across the country.
It happens each year and it’s a famous weekend full of sales where shoppers hit the high streets and online stores in an attempt to find the best deals and discounts!
However, are you aware of the history behind this annual event?
The term ”Black Friday” was associated with a financial crisis in the US, not shopping. This early origin came about when Two Wall Street financiers bought a large amount of Gold hoping to sell it for a huge profit. Unfortunately the US gold market crashed leaving the men bankrupt.
In the UK, it was introduced by Amazon in 2010 where they promoted a wide range of deals/discounts to consumers.
Asda followed the trend in 2013 which led to chaos-where customers fought for televisions and other technology, and since then more retailers join in every year choosing to hold huge sales.
Whilst some retailers decide not to take part in the Black Friday sales, many retailers have increased their profits just by taking part in Black Friday.
According to Hitwise, Amazon made up 26% of the entire retail industry during Black Friday.
And after Black Friday there is…Cyber Monday! Due to the increase of technology users and online shopping Cyber Monday was created. It is another day full of internet-only discounts/deals and it’s taking place on 2nd of December.
We can all agree it’s a great marketing technique to increase the number of sales before Christmas.
This being said you don’t need Black Friday to draw attention to your business, great marketing techniques help do this all year round! If you’d like to find out more see how to contact us here.