What are the ‘Black Friday’ and ‘Cyber Monday’ days?
The term ‘Black Friday’ was coined in the 1960s in the US. In a retail sense, it relates to a shift from red to black ink in accounting. The accounting was done manually back in the day, and the red ink indicated a loss, while the black ink indicated a profit. The change happened due to the shopping season starting before Christmas. The retailers soon discovered they could draw crowds by offering discounts, and Black Friday became ‘the day to shop.’ With the development of the Internet and other technologies, the trend moved to the online format.
‘Cyber Monday’ emerged in the 2000s — the National Retail Foundation created this term. Originally, Black Friday involved only brick-and-mortar establishments. ‘Cyber Monday’ refers to the increasing popularity of online sales after Thanksgiving Day. While Black Friday offered discounts on toys, electronics, apparel, and furniture, Cyber Monday focused mainly on providing low prices on tech-related merchandise, like gaming gear. These events became so popular that their span is extended for a few days, with the growing number of smartphone users – find numbers here. With the popularity of apps and technologies, Black Friday and Cyber Monday are massive opportunities to profit. Ads and push notifications are the perfect solutions to reach the target groups.
Black Friday and Cyber Monday — the ‘spending days’ are beating the records
It may seem that the pandemic situation has decreased the level of spending, but it’s just the opposite. Check this report from eMarketer. It clearly shows that Cyber Monday 2020 in the US has set a record for online spending during this period — with over $11 billion. It looks like this year will bring a record, as the numbers are constantly rising yearly – see another report from CNBC here.
Black Friday and Cyber Monday are a part of the so-called ‘Cyber Week,’ the week after Thanksgiving in the US. It covers major shopping dates: Thanksgiving Day, Black Friday, Small Business Saturday, Super Sunday, and Cyber Monday. All these days, consumers look forward to Black Friday and Cyber Monday the most. It’s an excellent opportunity for retailers to make significant revenue. Since this phenomenon has spread globally — thanks to e-commerce — this opportunity just cannot be missed. See the scale on the graph created by Statista — the numbers speak for themselves.
Black Friday and Cyber Monday in the Travel industry
Black Friday and Cyber Monday are not just hype. They are serious trends — also present in the Travel industry. According to Mark Crossey from Skyscanner US, Black Friday will deliver a significant spike in Travel sales this year. Moreover, research conducted by Adobe Analytics reveals that spending via smartphones accounted for 46.5% of all holiday sales on Thanksgiving Day and 40% on Black Friday. Travel businesses that offer a seamless and comfortable experience — in terms of the first touchpoint (apps) — can count on increasing sales. Other factors are a sign of opportunities for profit-making in the travel industry. A CNBC study shows that reducing discounts and shipping delays encourages consumers to shift from purchasing physical products to buying services that deliver the experience — such as travel. This is the best time to plan advertising campaigns in the travel industry. The latest Travel Recovery Report shows that around 60% of searches globally are for a month or less in advance. It looks like this tendency can be applied to Black Friday and Cyber Monday sales. Customers will search for opportunities to let off steam related to the pandemic and its effects (i.e., lockdowns and going remote at work). Statistics from Similarweb present that web traffic can hit the roof in the Black Friday and Cyber Monday period — this is an excellent opportunity to implement good advertising campaigns in the Travel sector. So check the Itaka App and plan your getaway for a fair price!
Travel Tuesday – the best travel deals a customer can get
Many studies and research show the potential of Black Friday and Cyber Monday in the travel industry. But, as we mentioned, there is a special day for those who want to plan their next journey. It’s Travel Tuesday, featuring discounts on flights, cruises, hotel stays, and more. According to Hopper, Travel Tuesday usually brings together twice as many deals as Black Friday and Cyber Monday together. Of course, the year 2020 was unusual — not only for the Travel industry — but given that customers can now travel much more than the previous year, it looks like Travel Tuesday 2021 will beat the record. In addition, the Itaka app by Axabee makes planning trips easier for travelers — so keep an eye out for the best deals there, especially on Travel Tuesday.
Black Friday and Cyber Monday – more facts and numbers
Still wondering if Cyber Week is a good time for Travel e-commerce? Here are some facts and numbers that will provide a better perspective on this topic.
– There is an 8% year-on-year increase in online sales on Black Friday, according to NRF;
– Online shopping around the Cyber week period in 2020 brought revenue of $74.6 billion (39%) from shoppers who used smartphones and $113.6 billion (61%) from shoppers who used their laptops and other devices – as shown by Adobe;
–There is an increase of clicks by up to 77% on Black Friday and 46% on Cyber Monday. Clicks leading up to Cyber Week increased an average of 118% for Digital retailers – data by ClickZ.
The pandemic has reshaped our reality. As people are now more into the digital world — including remote work and quarantine — it’s no surprise they want to experience something real and joyful. That’s what they can get from the Travel industry. Delivering outstanding offers in Cyber Week, the period is a win-win situation. So check the Itaka app and get the best offer available!