Historically, the day after Thanksgiving, known as Black Friday, marked the beginning of America’s Christmas shopping season. The origins of the term are a bit murky, but many attribute it to Philadelphia in the 1960s when the heavy pedestrian and vehicular traffic turned the day into “Black” Friday.
By the 1980s, retailers rebranded this narrative. They began to say that Black Friday represented the point in the year when they began to turn a profit, moving from the “red” to the “black”.
Cyber Monday, on the other hand, is a more recent phenomenon. Recognising the growing trend of online shopping, in 2005, marketers coined the term “Cyber Monday” for the Monday following Thanksgiving, capitalising on the first major spike in online sales after the holiday weekend.
Fast forward to today, both Black Friday and Cyber Monday have become global phenomena, offering lucrative opportunities for e-commerce businesses worldwide. Here’s why these events matter for e-commerce:
- Volume & Traffic: The sheer volume of online traffic during these days is staggering. E-commerce platforms witness a surge in the number of visitors, translating into potential sales.
- Increased Conversion Rates: With special deals and discounts, conversion rates typically soar. People are not just browsing; they’re in a buying mindset.
- Brand Visibility: Even if a visitor doesn’t convert immediately, the increased traffic can boost brand recognition, leading to future sales.
- Inventory Clearance: The sales frenzy allows businesses to clear out old inventory, making way for new products.
Harnessing The Black Friday & Cyber Monday Power
For e-commerce marketers, the approach to these events should be strategic:
- Prepare Early: Inventory management, website optimisation, and promotional campaigns should be planned well in advance.
- Leverage Email Marketing: Send teasers and exclusive deals to your subscriber list.
- Engage on Social Media: Utilise platforms like Instagram, Facebook, and Tiktok to create buzz.
- Ensure Seamless User Experience: Ensure your website can handle the surge in traffic. Invest in mobile optimisation and fast checkout processes.
- Use Retargeting: Engage visitors who showed interest but didn’t convert. This can be a game-changer in maximising your sales potential.
- Analyse & Learn: Post-sales, dive deep into analytics. Understand what worked and what didn’t to refine future strategies.
In an era dominated by e-commerce, Black Friday and Cyber Monday offer a goldmine of opportunities. With the right strategy, e-commerce businesses can witness exponential growth during this period.
Ready to dive deeper? Don’t miss Fospha’s latest report packed with insights and strategies for maximising your Black Friday & Cyber Monday campaign. Download it here!
