Mid-autumn is the hot season in the marketing world. The stores are working on a Black Friday strategy and are planning seasonal sales. Buyers at this time make shopping lists and bookmark the desired goods. What do both parties expect and how the usual Friday sale turned out to be a world holiday?
Where did Black Friday come from?
The idea of Black Friday originated in America, a country where selling is considered a national hobby. Frank Woolworth began this tradition. At the end of the 19th century, his income fell to zero, and to save his family from starvation, he sold all the goods for 5 cents. The desperate move brought him a week's revenue in one day, so soon colleagues took his example and sales spread throughout the country.
There are several versions of the history of the Black Friday naming. Some attribute it to the sharp fall in gold prices and the bankruptcy of buyers that fell at the end of the week. Others insist the statement was coined by police as they watched traffic jams and crowds on the Friday after Thanksgiving. Others talk about the stores` custom to highlight profits in a black notebook that filled all the pages on the fourth Friday in November. In any case, Black Friday is now a day of big sales in almost every country in the world.
What is Cyber Monday
Cyber Monday is the start of an online store sale that appeared about 15 years ago. It comes after Black Friday and is a continuation of the holiday. Initially, Cyber Monday was designed for office workers who, impressed by Black Friday, continue to shop from office computers.
With the development of online shopping, this day has become no less important than Black Friday, and is held in many stores. Demand for technology is also improving on this day, as people often mistakenly associate the name Cyber Monday with discounts on gadgets and electronics.
Features of sales in Ukraine
The first Black Friday in Ukrainian stores took place 7 years ago – in 2013. At first, it was more of a marketing move with pre-wound prices and fake discounts. But gradually the stores abandoned such fraud and began to offer customers real benefits.
This is how the real Black Friday appeared in Ukraine, but with its own peculiarities:
* sale is especially successful in online stores;
* stores give discounts only on part of the goods;
* promotions last longer than 24 hours and can last for 2 weeks;
* Cyber Monday is sometimes postponed to winter.
By 2020, Black Friday has become a traditional event and has spread to all outlets in Ukraine: from an online boutique of a local brand to a huge hall of the world-famous hypermarket chain.
Black Friday benefit for the store
The main reason for the participation of shops in Black Friday is their own benefit, which manifests itself in different ways. Large and popular retail chains, a large-scale sale allows you to free up warehouses for new collections and get rid of dependent goods. Brands from the budget segment manage to make huge profits on this day by increasing the number of goods sold, even at significant discounts.
Black Friday is especially important for small brands and stores. This is a great way to attract attention, launch effective advertising and bring visitors to "your territory". If you think carefully about the strategy for this period, you can get a lot of regular customers and a good profit.
What the buyer gets
As mentioned, Black Friday has gradually shifted from marketing fraud to a perfect balance between store profits and customer savings. Yes, on this day, even expensive products of elite brands are one step closer and more real. Discounts on almost the entire range allow you to make planned purchases and save a considerable amount. Black Friday is also a great way to discover new brands and products.
What to expect in 2020
Crowds running in the door of the mall, queues at checkouts and overnight at the doorsteps of branded stores. In 2020, these attributes of Black Friday can be forgotten. Due to the coronavirus epidemic, sales will move from offline to online, and the number of people in the store will be strictly controlled. Since the business has lost profits in the spring and summer, you should expect more generous discounts from some stores and a complete rejection of sales from others. In any case, this Black Friday will be held in a mask, in the distance and in the clouds of antiseptic.