NOT a Guru!
Keeping it simple, without the hype. PC tips and Internet advice for mom and pop businesses.
Keeping it simple, without the hype. PC tips and Internet advice for mom and pop businesses.
“Black Friday” refers to the day after Thanksgiving, the day that Christmas sales spike — at least in the retail sector. According to Snopes, the term’s meaning came from the day that retailers’ income statements changed from red to black based on the Christmas day shopping rush.
Snopes also says that Black Friday is a myth. According to them, sales do spike on Black Friday, but then they drop back down. The big shopping days are the four days immediately before Christmas.
For online retailers, there’s “Cyber Monday,” which is the Monday after Thanksgiving in which online Christmas sales supposedly spike. Business Week says that this date is also a myth. According to Business Week’s 2005 statistics, “For most online retailers, the bigger spending day of the season to date was way back on Nov. 22, three days before Black Friday. What’s more, most e-tailers say the season’s top spending day comes much later, between around Dec. 5 and Dec. 15.”
Nearly one-third of shoppers say that they plan on spending more on the Internet this year than they did last year, according to a 2009 study by J.P. Morgan. However, the study predicts that the total volume of sales will go down because of the economy. The way to beat this is to offer value. If you can offer discounts, maybe some extra freebies, and other things that will entice your potential buyers, do it!
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I’ve been dragged out shopping on Black Friday but I’ll never do that again. Its a nightmare of standing in lines and pushing through crowds – so no wonder people are headed to the internet to make their purchases instead.
Now as far as online holiday sales, I gotta say I’ve never really gotten involved. I stick to a few niches with semi-regular performance throughout the year. Maybe I’m missing out? Or maybe its good to have something that sells all year round.
An insightfull post. Will definitely help.
Thanks,
Steve
Black friday best time for selling goods and best time for buying goods.
Thanks for the information about black Friday…
Interesting terms. This is the first time I’ve encountered those. Actually, many stores give discounts before the holidays, but they do it months before the actual month of the holiday. Maybe to lessen the Christmas rush?