With the Thanksgiving Weekend coming up, retailers are busy preparing for one of the biggest shopping holidays of the year. In 2014, $50.9 billion was spent during the 4-day weekend, while approximately 133 million U.S. consumers shopped during that period.
Thanksgiving weekend this year will start with Thanksgiving Day on Thursday 26th November, followed by Black Friday on the 27th November and Cyber Monday on Monday 30th November. So what do Black Friday and Cyber Monday mean for retailers?
Black Friday is the day after Thanksgiving Day and has become the busiest shopping day of the year since 2005. It is regarded as the beginning of the Christmas shopping season in the United States, and most major retailers open very early on the day and offer promotional sales.
Many people take the day off work to visit family or friends who live in other areas or to go on vacation. People also use this day to start shopping for Christmas and other holiday presents, attracted by the sales offered by stores.
The day’s name originated in Philadelphia, where it was originally used to describe the heavy and disruptive pedestrian and vehicle traffic that would occur on the day after Thanksgiving. A later explanation to emerge was that many businesses, especially small businesses, started making profits at this time of the year. In business accounts, profits were traditionally marked with black ink, whereas losses were marked with red ink.
Cyber Monday is a marketing invention for the Monday after the Thanksgiving holiday in the United States. The term was first used by on-line retailer shop.org in 2005. On-line retailers offer deals and sales several weeks ahead, to persuade people to shop on-line. A large amount of the on-line shopping on Cyber Monday is done during work hours.
In 2014, Cyber Monday on-line sales grew to a record $2.68 billion, with an average order value of $124. The deals on Cyber Monday are on-line only and generally offered by smaller retailers that cannot compete with the big retailers.
Book Your Space Now!
With only two weeks to go, it is not too late to join one of the biggest shopping weekends of the year! CasualLease.com has many properties available with short-term leases in your area. Go to CasualLease.com and search on-line to book your space today.
timeanddate.com – “Black Friday in the United States”
timeanddate.com – “Cyber Monday in the United States”
Wikipedia – “Black Friday (shopping)”
Wikipedia – “Cyber Monday”