When is Black Friday 2023?
Black Friday 2023, marked for November 24, is more than shopping madness; it’s a strategic opportunity for e-commerce platforms and businesses. It will continue until November 27. With the rise of comprehensive platforms like Armasoftlab, businesses can now streamline their operations, from product listings to VAT management, in preparation for this significant retail event. This article delves into What is Black Friday and What is the Real History of Black Friday, How Black Friday impacts sales on platforms like Amazon and Otto.de, and How Leveraging an E-Commerce Marketplace Platform like Armasoft can enhance marketing strategies and boost sales of online stores During Black Friday.
What is Black Friday?
The popular storyline about Black Friday immediately following Thanksgiving is often attributed to businesses. According to popular belief, it is said that retail shops, after experiencing a full year of financial losses, would purportedly generate profits on the day after Thanksgiving, commonly referred to as “Black Friday.”
When examining the origins of the word “Black Friday,” it becomes evident that it was coined in the 1960s to symbolize the start of the Christmas shopping season. This day has been historically recognized as a commercial event, marking the commencement of the festive period leading up to Christmas.
This phenomenon is attributed to the significant amount of money spent by holiday shoppers on discounted items. While it is indeed valid that retail organizations historically denoted losses in red and profits in black during their accounting practices, it is important to note that the commonly accepted explanation for the genesis of Black Friday, which aligns with this practice, is officially endorsed but lacks accuracy.
What is the Real Story of Black Friday?
According to an article that was published by Sarah Pruit, the real story of Black Friday is actually completely different from what is commonly known. The true history of Black Friday isn’t as good as businesses say.
Philadelphia police adopted the word in the 1950s to characterize the turmoil that followed Thanksgiving when suburban shoppers and visitors streamed into the city for the annual Army-Navy football game. Philly police couldn’t take the day off and worked extra-long shifts to deal with the crowds and traffic. Shoplifters took advantage of the chaos to steal goods, adding to law enforcement’s frustration.
Businesses in Philadelphia and promoters sought unsuccessfully to convert “Black Friday” to “Big Friday” in 1961 to remove the negative associations. As late as 1985, the word wasn’t widely used statewide. However, in the late 1980s, businesses reinvented Black Friday to benefit them and their customers. The outcome was the “red to black” holiday motif and the idea that America’s shops finally made a profit the day following Thanksgiving.
Black Friday and its Impact on E-commerce Historical Sales Trends:
Traditionally, Black Friday has been a goldmine for retailers. In 2022, Amazon has reported record-breaking sales, with consumer electronics, fashion, and home goods leading the charge. According to statista 2022 report, you can clearly see from the chart that the sales on Amazon in Germany and Spain increased by 200% and sales in Italy raised 150% more on Black Friday ( November 25, 2022) in comparison to Early Black Friday (November 18, 2022). In addition to European Countries, total online sales revenue on Black Friday 2022 in the USA was $9.12 billion.
Image Source: Statista.com
Which products sell more on Black Friday?
Adobe Analytics found that the following categories led to an increase in online retail on Black Friday compared to October 2022:
- Online electronics sales rose 221%.
- Smart home goods rose 271%.
- Audio equipment grew 230%.
- Equipment for exercise rose 218%.
- Toys rose 285%.
As indicated, online sales on Black Friday 2022 increased in practically all categories. If you are a producer rather than a dropshipper who can only offer certain items owing to their brandings, we suggest that to work on a comprehensive digital marketing approach for Black Friday 2023. Good on-page and off-page SEO (Search Engine Optimization) methods may enhance organic consumer traffic to your website and other online marketplaces where you sell directly. If you are not aware of what is an SEO, you can check our previous article for more information.
As all different marketplaces have different ranges of promotional opportunities, you need to have sufficient knowledge of some basic marketing tools and terms such as keyword analysis, pay-per-click marketing, online store design management, special coupons, and other general external branding activities to get more inorganic traffic from other social media channels and increase your brand reputation as much as possible.
Predictions for Blackfriday 2023
Analysts predict an even greater surge in 2023, with e-commerce continuing its upward trajectory. According to Shewale’s article, it can clearly be seen that the expectation of total sales during Black Friday week is $9.8 Billion! In addition, it has been observed that the conversation rates have increased 50% during Black Friday week in 2022. This situation can be explained because factors like improved consumer confidence and expanded digital reach contribute to this optimism.
Actually, this is one of the most important reason why most of the well-known companies spent their huge amount of yearly marketing budgets during in November. As all the statistics show that on Cyber Monday and Black Friday, people are willing to purchase more and more because of having a scared feelings of not getting “that” discounted prices during the rest of the year.
Well… It is questionable actually… Is it really true that companies just make this “kind” of discount only during Black Friday or have other strategies like playing with the RRP’s (Recommended Retail Price) of the products during the year and making customers accustom to higher prices for example… And then, shocked them with the “discounted” ones which never discounted or minimally discounted maybe? As I have said, it is another topic, just observing the customer and companies’ point of view during this stage. Open to comments.
Black Friday on Consumer Purchasing Behavior
Over the past years, there has been important sustainable growth observed in the numbers of Thanksgiving weekend shoppers over the globe. Specifically, at the beginning of the pandemic, there was a huge growth in the number of black Friday shoppers from 179.8 M to 196.7M according to infogram.
Marketing Promotions for Amazon Businesses for Blackfriday 2023
Amazon’s ecosystem offers a plethora of tools for sellers to boost their Black Friday sales. These include:
- Product Display Ads: Tailored to showcase products directly to potential buyers.
- Sponsored Brands: Enhancing brand visibility among consumers.
- Store Ads and PPC: Driving traffic to customized Amazon storefronts and listings.
- Coupons: Offering enticing discounts to nudge customer decisions.
- Influencer Marketing: Leveraging social media influencers to reach wider audiences.
Strategies for Black Friday 2023:
The key is to integrate these tools into a cohesive strategy. For example, coupling PPC campaigns with influencer endorsements can dramatically increase reach and conversion. Case Studies: Successful campaigns from previous years demonstrate the power of a well-rounded approach. One notable example is a tech gadget seller on Amazon.de who saw a 300% increase in sales by combining PPC with strategic discounting.
Affiliate Marketing on Amazon During Black Friday Basics of Amazon Affiliate Marketing:
The Amazon Affiliate program allows content creators to earn commissions by referring customers to Amazon products. Leveraging Black Friday: Affiliates can capitalize on Black Friday by curating product lists, offering buying guides, and highlighting time-sensitive deals. Tips for Effective Affiliate Marketing: Successful affiliates focus on creating authentic, value-added content that resonates with their audience. It’s not just about promoting products; it’s about solving customer problems. Integration with Black Friday Deals: An effective tactic is aligning content with trending Black Friday deals, thereby directing traffic to high-converting products.
Conclusion
As Black Friday 2023 approaches, the potential for sales growth on platforms like Amazon and Otto.de is enormous. Equally, the opportunity for Amazon sellers and affiliates to maximize their earnings is unprecedented. With the right strategies in place, this Black Friday could mark a transformative moment for businesses and marketers alike.
