On the last Friday of every November, millions of people around the globe prep up for the best sales event of the year; wallets in hand and sanity out the window – it’s Black Friday, the day you can make all your shopping dreams, that otherwise seem unattainable, come true.
The Black Friday sales concept was invented in the US in 1924, it was initiated by American multinational Macy’s, during their Thanksgiving Day Parade. In the 1960s, the sales day was officially given the name Black Friday and it stuck and spread. Realizing what a great opportunity this is – for both, retailers and consumers – other stores quickly caught up and by the 1990’s, not only did Black Friday become an unofficial retail holiday but also turned into a nationwide sensation. The UK and Canada were relatively late in joining the Black Friday frenzy; however, it didn’t take too long before the glorious discounts day became the busiest sales day of the year there as well. Over the past few years, with more and more countries jumping on the bandwagon, the concept has proven itself to be a worldwide phenomenon.
It is often wondered why the colour black – which is associated with darkness – is used to represent something that is so festive and positive. However, there is a well-thought-out reason behind this. Macy’s initiated this sales day event in an attempt to go back into black during a slow retail season. Just like the colour red, which represents both, love and anger, black is associated with benefit and profit (profit is recorded in black ink in the Profit & Loss statement); therefore, there is no other colour that would be more apt for the most exciting sales event of the year.
In the earlier years, most retailers opened for business at dawn on Black Friday; however, with the staggering growth in the number of shoppers flooding the stores, in 2011, big-box stores pushed back to midnight, and now several aren’t even waiting for Friday, opting to open the evening before, to cope with demand from the big sales day. The number of U.S. shoppers which was at 89 million in 2012, went up to approximately 140 million last year, this figure of offline buyers was 7% lower than the preceding year as shoppers were more inclined towards an alternative to standing outside in queues on Black Friday waiting for stores to open or queues to move – they shopped for the same deals online. Black Friday has accelerated the online shopping revolution and changes in shopping habits. According to Adobe System Inc., online sales hit an all-time high of $3.73 billion in the U.S – this was 42 percent of all sales made on Black Friday. The number which is already massive, is expected to grow leaps and bounds this year.
It’s no secret that online shopping is growing rapidly and Black Friday sales are increasingly catering to online shoppers. Retailers have adjusted their conventional strategies to meet this increasing change in consumer behaviour, where online has become the main channel of driving sales. Last year’s record-setting online sales have given ecommerce players a glimpse into the future and the timing of Black Friday being launched in Pakistan, online, is nothing short of impeccable, considering the increased penetration of smartphones and internet technologies across the country.
Ecommerce has now become the most sought for way of acquiring Black Friday deals because of its trouble-free nature. No crowds, no queues and delivery at your doorstep with just a few clicks. The trend first began when online shopping portals saw the potential business and profits of this day online – they introduced Black Friday to the internet with lightning deals happening every hour, the concept spread like wildfire to other online retailers worldwide and it absolutely made no sense for Pakistan to be left out and so, Daraz.pk has taken up the cause of bringing this glorious sales day to the country.
Black Friday is all about unimaginable discounts, special offers and massive deals across all retail verticals. While electronics maintain their position as the hottest retail category worldwide, fashion is next in line and beauty follows closely. This internet-born sales day, the hottest topic this month, will hit the online store at www.daraz.pk/black-friday on November 27 and have everyone at the edge of their seats, starting midnight, to ensure they avail the best possible deals no matter where they are – at home, at work or hanging out with friends, cheering for the men in green.