Black Friday: An Emerging Global Phenomenon
https://admateacademy.blogspot.com/2020/11/black-friday-emerging-online-sales.html
Black Friday seasonal sales is around the corner, as we approach yet another Thanksgiving Day. Black Friday is an American shopping season in preparedness for the Thanksgiving Day celebration. Historically, Black Friday is the beginning of the Christmas shopping season, usually a day after Thanksgiving, similar to the Ember month in Nigeria, where families start making their Christmas shopping. Thanksgiving will be celebrated this year on 26 November. Black Friday is set aside to usher in Thanksgiving and preparation for the seasonal shopping in ahead of Christmas.
This phenomenon is mostly prevalent in the United States, but has spread all over the world as many large and small retail outlets have continually used this seasonal sales to usher in the Christmas seasonal sales bonanza, which is one of the most important period to increase sales by marketing and promoting their products and services. Black Friday sales have
become one of the most popular seasonal marketing fiesta in the
United States and Europe.
Black Friday has in the last few years, started gaining popularity in some African
countries, especially in Sub Saharan Africa. In the last five years, we have witnessed a tremendous increase in Black Friday
sales in Nigeria and across the West African coast. This trend, especially in Nigeria, is closely linked to the rapid growth in shopping malls, mostly in the big cities such as Lagos, Uyo, Port Harcourt, Kano and
Abuja.
Some of the big malls such as Shoprite and Games spare-head the emerging new shopping culture by being in the forefront of this new seasonal sales drive. Though, Black Friday sales is common in Europe and the
United States, it is gradually creeping in as part of the annual ritual for malls
across the Africa, which also coincides with the Ember months in Nigeria. Black Friday kick starts the Christmas seasonal discount shopping.
In Africa, particularly in Nigeria, Shoprite, Games, Prince Ebeano and Blenco are some of the largest retail chain stores that have opened outlets in different cities across countries in the continent, such as Johannesburg, Ghana and Nigeria. They are the ones that introduced seasonal sales promotion, such as Black Friday, Cyber Monday, Halloween, Black November as well Christmas, Easter and Id el Maulud fiestas.
Most of these cultures are alien to Africa, especially Halloween and Black Friday, but they are catching up quite well. These festive seasons have become a period when online retail stores, both the small and the big ones offer discount sales, a phenomenon that has started spreading across in Nigeria, and has caught up quite rapidly in Lagos and Abuja. These various seasonal sales bonanzas have created a perfect period for brand promotion as well as sales, and it a period where many digital marketers smile to the bank.
Benefits
Online stores have used this seasons to their advantage by putting out special discount offers, bonuses and promo-codes to attract shoppers to their websites. This form of targeted sales drive has become an effective strategy for social media managers, content curators and digital marketers to catch in on such seasonal sales.
During these periods, you find many large online retail stores such as Amazon, Walmart, eBay, Games, Shoprite and even the smaller retail outlets putting up promos on their websites to encourage shoppers to buy from their stores. On Black Friday alone, annual global retail sales reach over 30%; and shoppers spend an average of $380 on purchases on that day.52 In 2017, In the United States alone, shoppers are expected to spend over $6.2 billion on Black Friday sales, an increase of 23 percent over last year’s figures.53
What is interesting about these figures is the fact that it shows the huge opportunities available to be exploited by online store owners. There are many of such days, which have now been earmarked by both brick-and-mortar as well as online retail outlets for special sales. Store owners look forward to such periods because of their high conversion potentials.
The attraction during such periods of sales is that store owners reduce the prices of certain items in the stores, especially old stock for as low as 70%. Many shoppers also save up for the season, especially small retail store owners looking to make purchases to restock their shops. For both the shop owners and shoppers, it is a win-win situation.
Planning is Key
Black Friday, Cyber Monday and indeed other such seasons may be a great opportunity to increase sales, but it is not without carefully working out a marketing plan well ahead of time. For online store owners, planning is key because the campaign that will be used for the online promotions, whether it is on social media or on their website, must be ready well ahead before the season starts.
The products that will be offered for discount sales during that period must also be marked and properly branded. The role of the digital marketer is to provide good content whether it is in the form of video, animated GIF, cinemagraph or illustrations.
Content as always, is the king, because competition is not determined by the size of the retail store, but by the quality of the content of their campaigns, the target audience and the digital marketing channels that are chosen.
In Africa, particularly in Nigeria, Shoprite, Games, Prince Ebeano and Blenco are some of the largest retail chain stores that have opened outlets in different cities across countries in the continent, such as Johannesburg, Ghana and Nigeria. They are the ones that introduced seasonal sales promotion, such as Black Friday, Cyber Monday, Halloween, Black November as well Christmas, Easter and Id el Maulud fiestas.
Most of these cultures are alien to Africa, especially Halloween and Black Friday, but they are catching up quite well. These festive seasons have become a period when online retail stores, both the small and the big ones offer discount sales, a phenomenon that has started spreading across in Nigeria, and has caught up quite rapidly in Lagos and Abuja. These various seasonal sales bonanzas have created a perfect period for brand promotion as well as sales, and it a period where many digital marketers smile to the bank.
Benefits
Online stores have used this seasons to their advantage by putting out special discount offers, bonuses and promo-codes to attract shoppers to their websites. This form of targeted sales drive has become an effective strategy for social media managers, content curators and digital marketers to catch in on such seasonal sales.
During these periods, you find many large online retail stores such as Amazon, Walmart, eBay, Games, Shoprite and even the smaller retail outlets putting up promos on their websites to encourage shoppers to buy from their stores. On Black Friday alone, annual global retail sales reach over 30%; and shoppers spend an average of $380 on purchases on that day.52 In 2017, In the United States alone, shoppers are expected to spend over $6.2 billion on Black Friday sales, an increase of 23 percent over last year’s figures.53
What is interesting about these figures is the fact that it shows the huge opportunities available to be exploited by online store owners. There are many of such days, which have now been earmarked by both brick-and-mortar as well as online retail outlets for special sales. Store owners look forward to such periods because of their high conversion potentials.
The attraction during such periods of sales is that store owners reduce the prices of certain items in the stores, especially old stock for as low as 70%. Many shoppers also save up for the season, especially small retail store owners looking to make purchases to restock their shops. For both the shop owners and shoppers, it is a win-win situation.
Planning is Key
Black Friday, Cyber Monday and indeed other such seasons may be a great opportunity to increase sales, but it is not without carefully working out a marketing plan well ahead of time. For online store owners, planning is key because the campaign that will be used for the online promotions, whether it is on social media or on their website, must be ready well ahead before the season starts.
The products that will be offered for discount sales during that period must also be marked and properly branded. The role of the digital marketer is to provide good content whether it is in the form of video, animated GIF, cinemagraph or illustrations.
Content as always, is the king, because competition is not determined by the size of the retail store, but by the quality of the content of their campaigns, the target audience and the digital marketing channels that are chosen.
The black Friday idea is fast becoming interesting as many find it a time to grab discounted stuff fast.
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