When national ‘Singles’ day in China makes $2 billion of online sales in only two hours, you know that the power of buying days is now pandemic!
Valentine’s Day has always been in the psyche of the brain, whether you are loved up or not. Christmas, more like a buying season, continues to drive the customers both online and offline crazy! However, we have seen some new kids on the block in recent years.
Black Friday may be the one that springs to mind, particularly if you happened to witness the madness of Black Friday 2014 in the UK. The first UK Black Friday event actually happened in 2003, minus the absolute stampede of customers. In 2014, bad planning and low prices was destined to be a recipe for disaster. The online opportunities of Black Friday were pretty much overlooked by some retailers.
Cyber Monday is another interesting case. It emerged as online-only, allowing retailers to capitalise on people who were uncomfortable braving the shop floors. It allowed smaller businesses to join in, as they might not have had chains of stores to bring in the foot traffic.
Promotions and social validation seem pivotal when it comes to buying days. If everyone else is going wild over the cut prices, you might not feel as bad spending slightly more in one day to secure the deals you want. Is that all retailers want, or can they do it differently?
We’ve had Valentine’s Day, mother’s day and father’s day already. Yet, the rush to capitalise on Christmas has already begun. Black Friday and Cyber Monday gives shoppers the chance to get their Christmas gifts in early. Are they expecting low prices alone, or are they still after a comfortable experience?
It’s great when a smaller business gets to stand alongside the big guns, but can any online retailer approach these buying days differently? Of course, making money is good for any business but is that really all they can use this growing consumer ideal for?
Are you looking forward to the next Black Friday? Or are you a Cyber Monday kind of panda? Either way, they are coming up fast. Already, stores are expected to see their online sales soar on these days alone. Better still, retailers are promising new email subscribers an email with ALL deals as soon as they go live.
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