The battle for early Christmas sales is ready to commence, and consumers are now gearing up for the start of Black Friday and Cyber Monday.
With the popularity growing in the UK for these ‘American Imports’, MyVoucherCodes.co.uk looked to see where and why it all started and lexapro online cheap how these special days have developed over time.
Where it all started
It is known as the unofficial start of the holiday shopping season as those taking advantage of the extra day off to head out to the shops.
The term “Black Friday” was coined in the 1960s to mark the kick-off to the Christmas shopping season. “Black” refers to stores moving from the “red” to the “black,” back when accounting records were kept by hand, and red ink indicated a loss, and black a profit.
Cyber Monday however is a recent invention, the term was coined by the National Retail Federation (NRF) in 2005 after retailers saw a 77% increase of online sales on the Monday after Thanksgiving.
The media soon picked up on the new shopping phenomenon with the New York Times writing: “The name Cyber Monday grew out of the observation that millions of otherwise productive working Americans, fresh off a Thanksgiving weekend of window shopping, were returning to high-speed Internet connections at work Monday and buying what they liked.”
The effect Black Friday & Cyber Monday had in the UK in 2014
- Online traffic was up by 60% year-on-year
- Online sales increased by 91%
- US saw a year-on-year traffic increase of 11.8% compared to 20.8% in the UK.
- Amazon sold approximately 64 items per second
- John Lewis enjoyed the biggest sales week on record and online revenue increased by 41%
- Year-on-year growth for Black Friday was 140% increase
- There's an average of six sales per second and 5,267 clicks per minute
- UK shoppers spend £810m on Black Friday
- Year on year growth for Cyber Monday shows a 32% increase
- Sales volume are greatest in the evening (probably when the majority of people get home from work)
- Department stores saw the most sales
- UK spent an estimated £720m on Cyber Monday
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