The Retail Phenomenom of Black Friday
Monday - 27 July 2015
Over the last couple of years Black Friday has hit the UK as a retail phenomenon!!!
Originating from the American tradition of reducing stock on the Friday that follows Thanksgiving Day, which began in the early 2000s and for many ignited the Christmas shopping season. Retailers rise early to accommodate the eager shoppers and their need for a bargain, claiming the title of “the biggest shopping day of the year,” The UK has embraced the discounted event with the name Black Friday rumoured to originate from the theory that companies begin to make a profit - go into the black and out of the red. The last couple of years has witnessed a rise with the majority of companies opting to launch a Black Friday promotion; the expansion is incredible and the frenzy is somewhat uncontrollable as people fight for the latest gadget.
2014 Black Friday saw an unprecedented amount of shoppers hunting for the latest promotion. The stores were bulging, the Internet sites went into melt down and companies spontaneously slashed prices dramatically to compete with rivals. The 2015 shopping scene is predicted to explode once again on Black Friday as clothing, tech and games companies begin to plan their strategy to entice customers to their store rather than a competitor. To put the sales into perspective UK shoppers reportedly spent £810m last year, which is predicted to be dwarfed this November. Wow!! Expect long queues, websites crashing and an amazing bargain. Brands will start to plan for a more smoother and controlled execution of the event this year yet it is unsure if they will be able to calm the masses heading for a discounted TV, iPad or blender this Black Friday. What do you think?
