Black Friday and Cyber Monday: What it Can Mean to Retailers
Black Friday has for so long such a uniquely after Thanksgiving event and is more widely known as the principal earning day in retail-sales.
The new development to this tradition is Cyber Monday, which is being staged as the definitive online-shopping experience. Last year, for what was very well its debut, Cyber Monday accounted for more online transactions than any other ordinary day.
With that in mind, experts are saying that the phenomena is liable to be the same this year with U.S. online sales expected to boost by 17% year-over-year to approximately $1.2 billion-this is a speculative estimation by Andrew Lipsman of ComScore.
That being said, it's not all contented consumers and businesses for this year's event as even higher sales degrees can experience a snag. Customers frequently don't make other purchases after finding whatever it is that they came to buy.
Additionally, the nature of these sales is highly likely to detract from relatively quieter purchasing periods in the months of November to December. This has a domino effect in those retailers in that they may perhaps compete so heavily that sales margins are compromised.
Greg Melich of ISI Group says the days are intended for "grabbing mindshare and traffic for the whole holiday season" rather than actual sales.
The truly bad part is that business owners are less probable to secure long-term customers with holiday promos and such. In the experimental days of Internet trade, some patrons had their initial online-shopping encounter for the duration of the holidays which caused them to keep frequenting a specific site in later non-holiday months.
Indeed, Lipsman says that following online sales in November and December, sales in the consequent months would linger above preholiday height.
However, that effect has narrowed down in the last few years. Suffice it to say that events such as Black Friday and Cyber Monday are only designed for one-time deals and not lifelong customers.