Hot on the heels of the last commercial ‘event’, Halloween, we’re fast approaching Black Friday. But how easily are consumers persuaded to part with their money?
Shoppers used to eagerly await the January sales for the post-Christmas bargains. Then the sales moved forward to Boxing Day, seeing the keenest camping out over Christmas to make sure they were at the head of the queue.
Now we have adopted Black Friday from the US. Starting as a single day flash sale of electrical goods the day after Thanksgiving, it extended quickly across every retail sector. Joined by Cyber Monday in recent years, the last weekend of November has become a pre-Christmas shopping bonanza. Last year spending increased by 6% over this period.
As the sales move earlier and earlier, starting even nearer the beginning of November this year, how does this impact Christmas sales? Do sales increase overall or simply move forward, leaving consumers shopped out by mid-December?
It would appear not, Boxing Day sales increased last year.
Clear trends are also appearing in pre-Christmas spending. Black Friday (or Black November?) has become a time people buy for themselves, leaving December to remain as the key time for buying gifts.
Can we therefore simply create ‘events’ and expect people to keep spending money? It seems we can.
Chinese Singles’ Day began in 2009 as a bargain day for young singletons. Held on the 11th November, maximising the single number (11.11), it is now the biggest shopping day of the year for all Chinese shoppers. Sales rocketed from $9 billion in 2014 to $18 billion just two years later.
So where is this going? Grey Monday, Pink Wednesday, Divorced Day……….?! Wherever it goes, consumers are keen to spend.
Find out how we can help you capitalise on that appetite. Contact Lesley Bowman on 01225 758222 or firstname.lastname@example.org.