Believe it or not, Black Friday has changed drastically in the last decade. If you think about how things were in 2009, they were completely different from how things are now.
Back then, it had only been two years since the launch of the first iPhone, and smartphones were nowhere as popular as they are today. And getting a Netflix subscription meant you would actually need to visit the nearest post office.
Despite all the changes, some of the most prominent traditions still remain. Here, specifically, let’s take a look at how Black Friday changed to stay relevant. What is interesting is that it is a much bigger deal than it could have ever been before. In fact, its searches have only grown with every passing year.
What is Black Friday?
In case you have been living under a rock, Black Friday is the day immediately after Thanksgiving. During this time retailers in the US, and even around the world now, will drop prices on their products or services for a shopping bonanza unlike any other.
How have Shopping Habits Changed?
During the last decade, there has been a major shift in shopping habits. The rise of retailers far exceeds expectations regarding early predictions for what people will most likely buy online.
Black Friday shoppers will prefer buying products and services online and will return them if not satisfied.
Basically, a decade ago online shopping was limited to those products which shoppers would be confident about in regards to their looks, like books for instance. Physical retail was pretty much a big deal, as people would buy clothes and other products after seeing them in person instead of what can be viewed online.
Apart from the advancements in technology, it has been noted that Millennials and Generation Z are more than willing to take greater risks when purchasing stuff online. This can be better understood by how a massive 87% of all retail purchases now take place online in the UK, as reported by the Royal Mail Report. Additionally, 48% of these online purchases take place on mobile devices.
Black Friday is now a Season
A curious aspect of Black Friday is that the time it actually takes place. Come to think of it, it is becoming less about a specific day and more of a season of its own.
The term Black Friday is now being used by retailers to draw attention to their audiences towards discounts and deals available throughout the month of November, which make way for the highly crucial Christmas sales.
Some retailers cash in on the Black Friday frenzy early by launching unique deals and discounts at the beginning of November. Of course, this does not mean the day that Black Friday actually falls on has lost its importance entirely, as more people still tend to shop on Black Friday itself. The average spent on Black Friday totals £132, which is around AU $240 or US $160, which is a lot more than it was a few years ago.
Lastly, Black Friday has changed rapidly due to immense competition from other shopping days i.e. “Amazon’s Prime Day”.
Amazon’s Prime Day takes place in the middle of July, but it is almost the same as Black Friday. However, here, the focus is on one retailer alone. Due to this and Amazon’s success, other retailers are jumping on the bandwagon, offering sales during Amazon’s Prime Day, even though they have nothing to do with Amazon.
To understand the seriousness of the competition, a close examination of Alibaba’s “Single’s Day” reveals that there is a lot more money to be made using such strategies. While Amazon made $6.2 billion, Alibaba managed to generate an astounding $30.8 billion in less than 24 hours!
There is absolutely no reason why other international brands will turn a blind eye to the success of Alibaba, which is projected to grow by 6% in 2019. Expect to see more retail companies and brands from different industries targeting Chinese customers during Singles Day.
There are those that claim Black Friday will become nothing more than a shadow of its former self, which may be true to a certain extent. In the end, all retailers and online stores really care about is making money, as long as they are successful, it does not matter to them whether Black Friday is around the corner or not.
In conclusion, what online shoppers must realize that they can always save a lot more money during Black Friday, or during other shopping festivals, by using a reliable VPN like Ivacy VPN. With a VPN, online shoppers can connect to different regions to benefit from sales and deals which may not necessarily be available in their region. Moreover, they will also benefit from impenetrable online security and privacy, ensuring they never have to worry about identity theft or data loss, ever again!