Black Friday and Cyber Monday are relatively new retail phenomena but both have had a massive impact on the landscape of business for both offline and online retailers.
The last quarter of the year has traditionally always been the busiest for retailers and now with this frenzied weekend of shopping and hype that follows Thanksgiving, retailers have had to take stock and reassess their strategies in order to not miss out on providing cut price offers for the public.
Consumers adore a bargain and with the emergence of the savvy shopper who uses price comparison sites and apps to find the best deals, it has become ultra-competitive. If retailers don’t “take part”, the fear is that they will miss out or lose their customer base to a competitor so it can be really difficult for a retailer to decide on their strategy in dealing with this shopping period.
This infographic from online retailer Carvaka Adult Toys aims to give a detailed background as to the enormity that was Black Friday and Cyber Monday 2014 in the USA in terms of retail spend and behaviour. It shows who the “winners” for 2014, where and how glitches occurred, and it also gives some advice on what retailers can learn from the experience in order to be well prepared for this year.
