2019 Q4 Forecast and Strategy!
Implement a proactive instead of reactive strategy to enhance your consumers experience this festive season.
This year Black Friday falls on the 29th November and Cyber Monday on the 2nd December.
What began as a Friday of sales and shopping, is now almost a fortnight long sales event. As brands play about with the dates to increase revenue, every year is different. We see the likes of Amazon’s 7 days of sales commencing on the 22nd November and brands promoting a Black Five-day in the lead up to the main event.
Starting in the United States almost 100 years ago, post-Thanksgiving Day sales didn’t receive an official name until the 1950’s, when Police in Philadelphia referred to the day as Black Friday. The name referred to the influx of people the city would receive and the consequent rise in crime. - The Telegraph
Whilst ‘Black Friday’ has been a shopping craze in the US for almost a century now it only began to gain traction in the UK in 2010, when Amazon started promoting its discount ranges. Nowadays, Black Friday is celebrated by more than 10 European Countries and is the cherry on top of retail’s November revenue.
In 2005 Ellen Davis first used the term ‘Cyber Monday’ after noticing an increase in online spending on the Monday following Thanksgiving. Due to its ever-growing convenience, online shopping sites coined the name and held their own sales events. In recent years, due to the convenience and prevalence of the online shopping, spending on the Friday and Monday mainly comes from online shopping.
2018 Black Friday and Cyber Monday saw the British retail sector receive a massive £7 billion cash injection. - Real Business 2018
The most valuable insight we can give is, don’t be under or unprepared. As the saying goes, expect the worst and prepare for the best. We can’t predict what will happen this year but if it’s anything like last year - be ready. 2018 saw a greater rise in online shopping on both the Friday and Monday but with an increased preference for ‘click and collect’ consumers still visited stores across the weekend. Thus, giving brands a second opportunity to make the most of the sales weekend and drive further revenue.
Alternatively, lean into the weekend by offering your consumers an in-store experience they can’t miss. Start with a foundation of amazing service and get creative, whether that’s freebies, fittings, experiences or further discounts that make them want to leave the internet behind.