Connect with us

Technology

Black Friday online sales kill Cyber Monday

Published

on


black friday
Best Buy is a popular destination for Black Friday —
both in stores and online.

Kena
Betancur/Getty


  • Black
    Friday
    has morphed into something more than a one-day
    holiday. It’s now nearly an entire week of shopping and
    deals.
  • Ray Wimer, an assistant professor of retail practice at
    Syracuse University, says the holiday has lost a bit of its
    “uniqueness.”
  • Recent trends suggest it’s turning into a hybrid,
    online and offline holiday.
  • That also makes Cyber Monday less of a unique
    event. 

    Removing the distinction reflects
    how customers view shopping at stores either online or in-store
    — it doesn’t matter to them.

Black Friday gets all the headlines, but it’s not the only day in
late November that sees high sales anymore.

In fact, Black Friday has morphed into a nearly week-long event,
stretching from Thanksgiving all the way until Cyber
Monday. 

“Black Friday is really no longer a one-day shopping
extravaganza, it really signals a kickoff to a four-day
promotional period that concludes on Cyber Monday,” Ray
Wimer, an assistant professor of retail practice at Syracuse
University, said in an email. 

As online shopping increasingly becomes a more popular choice for
consumers, it no longer makes sense to think of Black Friday as
the holiday for in-store shopping and Cyber Monday for online
shopping.

“Significantly early reports of buyer intent shows that 33
percent of US shoppers will mostly or only shop Black Friday
online, taking away from some of the Cyber Monday
uniqueness,” Wimer said.


Furthermore, 54 percent of US shoppers say
they are more likely to shop online during Black Friday with the
biggest reasons being convenience and simplicity. Again, this
would detract from
the Cyber Monday event.”


Read more:



Here’s why we call the day after Thanksgiving ‘Black
Friday’






This year, competition will be even fiercer online.
Amazon
is offering free shipping to all customers this holiday season,
including on Black Friday.

That may be because Amazon is feeling the pressure from big-box
stores that are also offering free-shipping promotions for the
holidays. Most notably, Target
announced last month that it would offer free two-day shipping to
all customers
 until December 22, with no
order minimum. Best
Buy also removed its free-shipping
threshold
 but gave no time guarantee.

Amazon has become one of the most dominant players in Black
Friday sales online,
taking an estimated half of all revenue generated online in
2017
. It is likely to account for even more this year.

Most of this year’s holiday sales growth is likely to come from
online purchases — Forrester Research predicted 14% sales
growth online over last year and 1.7% growth in stores.
Forrester also estimated that online holiday sales would
account for more than 32% of all online sales for the year.

Read more about Black Friday 2018:

Exclusive FREE Slide Deck: Future of Retail:AI by Business Insider Intelligence

Continue Reading
Advertisement Find your dream job

Trending