How will Retailers Fair on Black Friday and Cyber Monday, 2017?
Black Friday, which began in 1952, falls on Nov. 24 this year. The day after Thanksgiving, the day of in-store deals and “doorbusters” has become its own holiday. But the last few years, retailers have started their sales earlier and extended deals online. According to Business Insider: “JCPenney, for example, is opening stores at 2 p.m. on Thanksgiving Day and staying open for 32 straight hours. Kohl’s is kicking off online Black Friday sales three full days before Thanksgiving, on Monday, November 20. And, Target already allowed customers to shop its Black Friday sales for a single day on Monday, November 6.”
And then there’s Cyber Monday–when retailers offer their most enticing deals online. The first Cyber Monday launched in 2005. Ever since, the weekend after Thanksgiving has been one long race for retailers to woo consumers with special deals. But as e-commerce sales rise, retailers have been looking for opportunities beyond Black Friday and Cyber Monday. Amazon hosts “Prime Day” and many retailers, take Kohl’s for example, run sales all year long. The shopping surrounding Thanksgiving is just not as important to retailers as it used to be.
Furthermore, millennials aren’t taking the bait. According to Forbes.com, “today’s younger shoppers — ages 13 to 35 — seem to be immune to the hype: 75% of them will opt to spread their shopping out over the following weeks.”
While Black Friday and Cyber Monday may not pull their weight like they have in years past, the National Retail Federation still projects a 3.6-4% increase over last year’s sales. Even the timing of Christmas falls in retailers’ favor for 2017. “Retailers are expected to benefit from having 32 sales days leading up to Christmas this year, one more than in 2016. Christmas also falls on a Monday this year, giving last-minute shoppers an extra weekend to complete their shopping,” wrote Forbes.com.
Black Friday may not be cause for 4 a.m. lines this year, but analysts still project a profitable holiday shopping season.
Ironbridge Software was founded in 1989 by Mike Dickenson. Mike’s unparalleled expertise and passion for technology led him to create the first-ever analytical solution for the Consumer Packaged Goods Industry. He assembled a team that has more than 50 years experience and Ironbridge Software has been leading the field ever since. Back in 1989, Mike’s vision was to blend database expertise, analytical expertise and software capabilities to produce a complete service for the CPG industry. At Ironbridge, we’re passionate about solving our clients’ problems, one insight at a time.
Written by Kim Kelly Consulting