Tag Archives: Black Fiveday

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10 facts you didn’t know about Black Friday

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Love it or hate it Black Friday, Black Fiveday and Cyber Monday are here to stay.

This year Black Friday falls on 25th November.

Black Fiveday kicks off on Thursday 24th November and runs through to Cyber Monday.

Cyber Monday falls on 28th November.

Here are 10 facts that you probably didn’t know about the event and its history.

Black Friday used to refer to US stock market crashes in the 1800s.                                              

Although it is now known as the biggest shopping day, in the US the term “Black Friday” originally referred to very different events.

The first time the term was used was on 24 September 1869, when two speculators attempted to corner the gold market on the New York Stock Exchange. The government stepped in flooding the market with gold, prices plummeted and many investors had a very black day and lost large fortunes.

Black Friday now references the huge profits that are generated on the day.                                 

Many retailers see their biggest profits of the year on Black Friday. Black has always been associated with profit whereas red has always been associated with loss.

Black Friday is always the Friday after Thanksgiving which is celebrated on the 4th Thursday of November.                                                                                                                                                    

Tradition denotes the Friday following Thanksgiving marks the official start of the Christmas shopping period. The department stores in New York City embraced this concept and in 1924 the world famous Macy’s Christmas Parade began.

Black Friday didn’t officially become the biggest shopping day of the year until 2001.                        

Up until 2001 the biggest shopping day was the last Saturday before Christmas. Black Friday has cunningly converted us from shopping procrastinators and last minute buyers to early organised bargain hunters.

Black Friday has now become Black Fiveday.

In an attempt to maximise sales and profit retailers have extended the original one day event to a 5 day bonanza starting on the Thursday and going all the way through to Cyber Monday.

Cyber Monday was the online version of Black Friday.

Black Friday was historically a bricks and mortar event. As e-commerce sales grew e-retailers created their own version of the mayhem and called it Cyber Monday. In reality the whole 5 days of madness is now available both in store and on online.

Retail consultancy Salmon are tipping 2016 as the best so far for consumers using smartphones to bag their deals.

They are predicting approximately 5 billion pounds of sales over the five day period, 2.55 billion of which will be generated by mobile devices.

Research network  SimilarWeb have revealed the biggest profit makers of 2015.

HouseofFraser.co.uk, Debenhams.com, Newlook.com, Etsy.com and Boots.com

If you are looking to grab a deal this year the hot retailers we are being tipped to watch are;

Argos, Amazon, Currys, Marks and Spencers, John Lewis, Tesco, Gam and House of Fraser

According to a Royal Mail survey:

52% of people spent more on Black Friday 2015 then they did in 2014 with an average spend per person of £191.00 and an average purchase per person of 5 items.

However you feel about Black Friday its impact on our economy and businesses is undeniable.

I recommend we embrace it fine tune our own sales and promotions to make the most of it and don’t forget to bag a bargain or 5 for ourselves!

Woman signs parcel in post office

ARE YOU READY FOR BLACK FIVEDAY?

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Black Friday is nearly upon us. This year its falls on Friday 25th November, that’s less than TWO WEEKS AWAY!

It doesn’t stop with Black Friday though. We now have Black Fiveday which starts on the Thursday before Black Friday and culminates in Cyber Monday.

I just did some research and the facts and figures are mind boggling. Did you know?

  • Consumers are expected to spend 5 billion over the 5 day period.
  • Black Friday 2016 will be the biggest day of online spending the world has ever seen.
  • 1.1 billion is predicted in sales on Black Friday alone.
  • 3.3 billion is predicted for the 3 day weekend.

As a 3PL, especially if you offer internet fulfillment services, you’re at the sharp end of this annual event. The statistics speak for themselves, we need to take this event seriously and have a clear strategy in place to maintain our service.

If you haven’t started your Black Fiveday planning yet, here’s a checklist to get you on track.

  1. Identify which of your customers are hosting Black Fiveday deals.
  2. Ascertain whether their deals are on specific stock lines or across their whole stock offering.
  3. Request details on the volume of orders your customers are expecting.
  4. If order volumes are expected to rise significantly speak to your customer about increasing the number of order files you receive from them during the day and the following days. You may need one an hour!
  5. Determine the exact length of Black Fiveday promotions. Is it the full 5 days or just the Friday or Monday?
  6. Clarify the delivery promises your customers are making to their customers, (next day delivery, within 3 days etc.)
  7. In order to maximise productivity, output and service levels decide if and when to run night and weekend shifts.
  8. Check you have enough packaging, boxes and labels available.
  9. Liaise with your IT support company or department to ensure you have access to their assistance should it be required.
  10. Notify your parcel carriers and Royal Mail about the increased volume and arrange additional collections or larger collection vehicles if required.
  11. Pre-print Royal Mail franking labels if applicable.
  12. Calculate staff numbers, devise shift plans and organise additional training.
  13. Arrange for products on offer to be retrieved from bulk storage and placed in an accessible area.
  14. If a customer’s deal is just on one or two items, arrange to pre-pack a certain volume of these so they simply need mailing labels and despatch paperwork adding when the orders start flooding in.
  15. Make customers aware of any additional charges for night or weekend opening.

And most importantly

16. Have FUN and ENJOY IT! Fast paced, logistics and warehousing  challenges are what get us up in the morning. This is an opportunity for your business to excel. This is what we do best!