Black Friday vs Cyber Monday: Statistics and Consumer Trends 

The holidays are fast approaching and Cyber Week is just around the corner. Many online retailers and brick-and-mortar establishments, such as Walmart and Best Buy, are starting to roll out early deals in preparation for it. 

Cyber Week is a mega retail event that spans five days, covering five major shopping dates: US Thanksgiving Day, Black Friday, Small Business Saturday, Super Sunday, and Cyber Monday. Of these special days, consumers look forward to Black Friday and Cyber Monday the most. 

Just how popular are these shopping days? What trends do retailers and shoppers need to know to prepare for this year’s Black Friday and Cyber Monday, and just how much revenue did these two events generate in 2020? 

Let’s take a look at some jaw-dropping statistics for Black Friday and Cyber Monday and explore the best practices for online sellers, consumer behavior, and shopping trends.

Exploring Black Friday and Cyber Monday: Stats & Consumer Trends:

But before the term “Black Friday” became synonymous with low prices and hordes of shoppers, it was originally used to describe streets filled with shoppers looking for deals after Thanksgiving. This was back in the early 1960s in Philadelphia. The term itself goes back to almost 100 years prior. In 1869, it was used to refer to the collapse of the stock market. 

Why is it called “Black Friday”?

Let’s go back to the 1960s, when it was used to mark the start of the holiday shopping season. The “black” referred to the shift from the use of red to black ink in accounting records during the season, where the latter was used to mark profit. 

While Black Friday is traditionally observed after Thanksgiving, its date hasn’t prevented many retailers, both online and physical, from offering deals weeks before the actual event. Some of these offers even get extended a few days after Black Friday itself. 

Compared to Black Friday, Cyber Monday is a more recent retail event. The term was used in the early 2000s by the National Retail Foundation (NRF) to describe the popularity of online sales that happened on the Monday after Thanksgiving. It served as an online counterpart to Black Friday, which primarily involved brick-and-mortar establishments.  

The growing popularity of smartphones has also pushed Cyber Monday and online shopping to the forefront. Many consumers have started using their smartphones to discover Cyber Monday deals and make purchases.

While it was previously a one-day event, Cyber Monday has become so popular that some retailers have extended the event to span up to a week, calling it Cyber Week or Cyber Week II, which usually starts during Christmas Day (December 25) until the New Year. 

Cyber Monday is known for low prices on tech-related merchandise, like laptops, gaming consoles, smart speakers, VR devices, and TVs. However, you can also spot other deals for mattresses, appliances, and cameras. 

Source: statista.com

۰ ۰