Black Friday or Cyber Monday?
Interesting research has been done that suggests that in the recent years Cyber Monday and Black Friday are fusing together to make a huge shopping weekend. Some of the sales of Cyber Monday start already on Thursday/Friday, some before even the Black Friday deals. Cyber Monday was up 33% in 2011, compared to 2010 crossing $1 Billion (IBM Benchmark, 2011).
Black Friday usually has more deals than Cyber Monday; however, this year it had only 5% more deals. Furthermore, the deals on both days are generally similar. So what drives customers to purchase products on both days? Price seems to be the main factor on which customers base their decisions.
Retailers get two days of super sales, and consumers get two opportunities for incredible deals. It is win-win situation for both. Experts say that retailers having multi-channel presence will derive the maximum benefit as compared to retailers with only one channel for sale. Brick and mortar and online sales are fueling each other, since now more people enjoy opportunities for attractive deals for shopping on two back-to-back days. And since, a lot of the deals are similar on both the dates, consumers can exercise their choice. Some customers prefer Internet shopping to shopping in crowded places where they might have to line up for hours before being able to enter the store. There is a high risk of injury during Black Friday as well. Black Friday deals state: “until stocks last,” which causes customers to get violent and irrational fighting over goods. Many customers carry pepper spray with them to get them through the night.
Cyber Monday appeals to the audience who want to avoid the discomfort that could be caused by Black Friday and also those that lack time to go to the stores for shopping. The main inconvenience of Cyber Monday is that customers have to wait for the items to get shipped to them and do not immediately have it, unlike Black Friday. Reports have suggested that both days saw growth, and this bodes extremely well for retail during the festive seasons.