Earlier this month, we revealed why retailers are bringing out Christmas items earlier and earlier for each year (read more). And speaking of Christmas, let’s just take a quick look on the most popular shopping day of the year, Black Friday.
In 2017, it was stated that every third purchase in Denmark on the world’s most popular shopping day was a gift (Nets). Despite a decrease in sales on Black Friday 2018, it is still the busiest shopping day of the year. In America as well, but with a decline in traffic. According to thebalance.com, the visitor traffic on Black Friday 2018 fell with 9 percent from 2017. The tendencies vary from country to country, but Black Friday continues being a particularly important turnover day for retailers all over the world.
A shift to online?
So, what is more popular for Black Friday? Online shopping or shopping in physical stores? In Denmark, people are more likely to go to brick-and-mortar stores. In 2018, online shopping only accounted for 16.8% of the total credit card consumption this very day (Nets). Stores in shopping malls are particularly popular on Black Friday and experienced a 5% growth in visitor traffic in 2018 from 2017 (ehandel.dk). Based on a representative sample of our customers’ traffic data (shopping malls), we can confirm a growth in visitor traffic.
McKinsey’s Black Friday 2018 report however reveals that participating in Black Friday online is generally more appealing for European consumers.
We can only guess how the turnover ratio and traffic count for Black Friday 2019 will be. However, it’s worth taking into account that this year’s Black Friday is on November 29, which is six days closer to Christmas Eve than in 2018 and the latest date ever for a Black Friday.
What to expect from Black Friday 2019
According to experts, Black Friday 2019 sales will begin way sooner than November 29 and deals will probably already take place from the beginning of November. However, we can’t ignore the fact that a Black Friday so close to December and Christmas Eve must have a greater impact on gift shopping than what have been seen before.
Here at Vemco Group, we are beyond excited to see if the predictions will prove correct, and we will be back with a follow-up after Black Friday 2019.