Black Friday first hit the streets of Britain back in 2010, and now, fast forward 7 years, Black Friday has become an important event for both retailers and millions of consumers around the United Kingdom. An estimated £2.5 billion is expected to be spent in just 24 hours on Black Friday in 2017. It’s truly amazing when you start thinking this iconic event was only introduced in Britain back in 2010, with the black Friday UK boom exploding in 2013. The question we are asking is what does Black Friday mean to the retailing world and to the millions who serge on a spending spree?
Almost all retailers have embraced Black Friday, seeing this as the perfect opportunity to increase revenues whilst also advertising and trying to increase their brand image. The spending weekend is seen as a great marketing opportunity to attract the potential millions of customers who are all looking to grab the best bargains. Perhaps with Christmas fast approaching, consumers see this event as the perfect opportunity to purchase gifts for friends and loved ones at bargain prices.
However, over the past two years, an increasing number of consumers have been deciding to take their Black Friday spend online. BBC news captured the moment at one retail store where only one customer awaited the doors to open to capture the deals.
— Twitter Moments (@TwitterMoments) November 24, 2017
An increasing number of companies have a significant online presence, realising the importance and fast growth of going online. IMRG published a statistic showing an expected £1.35 billion is to be spent online on 24th November 2017 which is an increase of 9% from 2016. According to Eight Million Stories “Online Retailers took approximately £2.8 billion in sales in 2016 – up 20 percent from £2.3 billion in 2015, of which the majority are largely driven by PPC, and by voucher codes, discount and cash back sites.” It’s really no surprise consumers can find the best Black Friday deals easily online as retailers should be ensuring PPC adverts are being used throughout Black Friday.
— Annemarie (@Anne___Marie___) November 24, 2017
Black Friday has taken the UK by storm and has seen a changing shift from high street pileups to shopping online. Digital Marketing has given retailers the power to promote their brand online whilst increasing conversions to meet the growing demand of online consumers. Choosing the correct marketing strategy has never been more important for organizations with online shopping handing the power of choice to consumers.
What are your thoughts on Black Friday? Find out how digital marketing can help your business grow today!