Finance:Cyber Black Friday

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Cyber Black Friday
Observed byUnited States Canada United Kingdom Brazil
CelebrationsShopping
DateFriday after Thanksgiving
2023 dateTemplate:Weekday after date
2025 dateTemplate:Weekday after date
Frequencyannual
Related toThanksgiving, Christmas and Black Friday (shopping)

Cyber Black Friday is a marketing term for the online version of Black Friday,[1] the day after Thanksgiving Day in the United States . The term made its debut in a 2009 press release entitled "Black Friday Goes Online for Cyber Black Friday".[2] According to the National Retail Federation Black Friday shopping survey, 195 million shoppers visited stores and websites over Black Friday weekend in 2009, up from 172 million last year. One-fourth of Americans shopping over the Black Friday weekend (28.5% or 49 million) were shopping online.[3] comScore reported that Black Friday (November 27, 2009) saw $595 million in online sales, representing an 11% increase versus Black Friday 2008. Gian Fulgoni of comScore said, "Black Friday, better known as a shopping bonanza in brick-and-mortar retail stores, is increasingly becoming one of the landmark days in the online holiday shopping world."[4] Some Cyber Black Friday sales are short-lived, last through the weekend, into Cyber Monday, and beyond.[5]

Origin of the term

'Cyber Black Friday' was created in 2009 by eCoupons.com after observing that online retailers launched their holiday sales before Cyber Monday to compete with the Black Friday brick and mortar frenzy. According to Talya Schaeffer, founder of Cyber Black Friday, "Cyber Black Friday sales are typically the largest of the season. Online retailers are hoping that by offering early discounts, consumers will shop early and often."[6]

Black Friday Online Sales

Black Friday Online Sales
Day Year Sales in Millions ($) % Change
November 24 2006 $430 n/a
November 23 2007 $531 22%
November 28 2008 $534 1%
November 27 2009 $595 11%
November 26 2010 $648 9%
November 28 2011 $816 26%
Source: comScore, Inc.

In 2009, most major retailers began Black Friday-style sales online, betting that many would rather click for deals on Thanksgiving or Black Friday than wake up before dawn and head to stores in search of door-busters the following day. Dozens of retailers dangled special offers on their Web sites, though not all were identical to what could be found on Black Friday in stores.[7] On July 23, 2010, Target.com announced its first ever "Back in Black Friday" one-day online-only sale.[8] On October 27, 2010, Sears debuted its "Black Friday Now" campaign with a Black Friday sale on October 30 and 31 and every subsequent Friday until Christmas. Like other retailers, Sears started its Black Friday sale early because consumers were looking to shop earlier in the season and spread out spending in the weeks before Christmas.[9]

Canada

Because of the strong Canadian dollar, in 2009 Canadian retailers began offering Black Friday sales to keep shoppers on their side of the border.[10] TheSource.ca, Apple.ca and Newegg.ca offered Black Friday online sales.[11]

United Kingdom

In 2010, Amazon.co.uk offered Cyber Black Friday deals from November 22–26. Amazon.co.uk offered Take That's Progress and Susan Boyle's The Gift CDs for £1 (both albums usually retail at £8.93). "The demand for the albums was incredible," said Brian McBride, managing director of Amazon.co.uk ltd. "Customers were online and ready for the start of 'Black Friday Deals Week', snapping up the thousands of albums that were available at just £1 in a matter of seconds."[12]

According to Amazon.co.uk, "Although it was originally a US phenomenon, UK retailers are also starting to get in on the act, so hopefully you will grab a bargain or two this year, in the Black Friday 2011 sales."[13]

In 2011, the number of retails offering Black Friday deals sharply increased, with retailers such as Apple Inc., Currys, PC World, Comet and even Harrods offering deals, in addition to Amazon.

References

  1. ↑ "What is Black Friday?". theguardian. November 25, 2011. https://www.theguardian.com/money/2011/nov/25/what-is-black-friday?newsfeed=true. Retrieved 2011-11-25. 
  2. ↑ "Black Friday Goes Online for Cyber Black Friday". CyberBlackFriday.com. November 23, 2009. http://www.prnewswire.com/news-releases/black-friday-goes-online-for-cyber-black-friday-71447492.html. Retrieved 2010-11-01. 
  3. ↑ "Black Friday Verdict: As Expected, Number of Shoppers Up, Average Spending Down". National Retail Federation. November 29, 2009. http://www.nrf.com/modules.php?name=News&op=viewlive&sp_id=841. Retrieved 2010-11-01. 
  4. ↑ "Black Friday Boasts $595 Million in U.S. Online Holiday Spending, Up 11 Percent Versus Year Ago". comScore. November 29, 2009. http://www.comscore.com/Press_Events/Press_Releases/2009/11/Black_Friday_Boasts_595_Million_in_U.S._Online_Holiday_Spending_Up_11_Percent_Versus_Year_Ago. Retrieved 2010-11-01. 
  5. ↑ "Black Friday online deals lure shoppers to make it a cyber Black Friday". Christian Science Monitor. November 25, 2011. http://www.csmonitor.com/Business/2011/1125/Black-Friday-online-deals-lure-shoppers-to-make-it-a-cyber-Black-Friday. Retrieved 2011-11-25. 
  6. ↑ "10 Strategies for Saving Money". More Magazine. November 2010. http://www.more.com/7725/25351-10-strategies-for-saving-money#4. Retrieved 2010-11-01. 
  7. ↑ "Retailers Shift Discount Focus Online". The Wall Street Journal. November 27, 2009. https://www.wsj.com/articles/SB10001424052748703499404574559831062888614. Retrieved 2010-11-01. 
  8. ↑ "Target.com 'Daily Deals' Offers First-Ever Back in Black Friday One-Day Sale". Target.com. July 20, 2010. http://www.prnewswire.com/news-releases/targetcom-daily-deals-offers-first-ever-back-in-black-friday-one-day-sale-98819124.html. Retrieved 2010-11-01. 
  9. ↑ "Sears Black Friday deals begin early October". WEWS. October 29, 2010. Archived from the original on November 1, 2010. https://web.archive.org/web/20101101070618/http://www.newsnet5.com/dpp/money/consumer/sears-black-friday-deals-begin-early. Retrieved 2010-11-01. 
  10. ↑ "Black Friday comes to Canada". Financial Post. November 26, 2009. http://www.canada.com/life/Black+Friday+comes+Canada/2272264/story.html. Retrieved 2010-11-01. 
  11. ↑ "Black Friday Is Tomorrow….In Canada Too". CTV News. November 26, 2009. http://www.krisabel.ctv.ca/post/Black-Friday-Is-Tomorrowe280a6In-Canada-Too.aspx. Retrieved 2010-11-01. 
  12. ↑ "Amazon attempts to bring Black Friday discounts to the UK". Guardian.co.uk. 2010-11-22. https://www.theguardian.com/money/2010/nov/22/amazon-attempts-black-friday-discounts-uk. Retrieved 2011-08-23. 
  13. ↑ "Amazon.co.uk Black Friday Deals Week". Amazon.co.uk. https://www.amazon.co.uk/Black-Friday-Deals/b?ie=UTF8&node=161428031. Retrieved 2011-08-23. 




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