First introduced to the UK in 2010, Black Friday is a shopping event that originated in the USA. In fact, it’s America’s biggest shopping event of the year, whereas the UK might have at one point considered our Boxing Day sales the traditional biggest shopping event of the year. The UK have started to adopt international shopping events much more readily – just like singles day!
The big shopping event is called ‘Black Friday’ as it is renowned for being the day that shops “move into the black”, meaning that the businesses have enough money to cover their costs as well as being able to reduce prices. Which? has found that Black Friday is often observed as an unofficial holiday in the USA, as many people are off work and it’s a great start to the Christmas season.
Amazon introduced the Black Friday concept to the UK, with Asda choosing to participate in 2013 with a disastrous start to the event. Unfortunately the massive savings generated a lot of anger between customers and resulted in uncontrollable chaos – even physical fighting! Asda no longer take part. However, having learnt from the earlier events, and upped the security, many retailers now choose to take part in Black Friday.
Most retailers successfully boost profits from their participation. Not to mention with Cyber Monday, it’s become a weekend-long affair, benefitting from the rise in using mobile devices to buy, and click and collect services.
IMRG found that a whopping £1.49 billion was spent in UK online retail sites on Black Friday 2018. Following on from the enthusiasm from previous years, some retailers have chosen to optimise the event by stretching it over the whole month of November – namely Amazon. How has you business managed Black Friday? If you feel your systems and processes could have performed better, get in touch!