Black Friday and Cyber Monday have both become retail phenomena in a very short space of time and at this stage are practically impossible to ignore as a consumer and as a retailer. As a consumer, these “events” have heralded a period of frenzied shopping but ultimately have also yielded bargains too! For retailers, it’s added a new headache to the already busiest period of their year.
Failure to get involved in offering cut price offers and discounts can cause the retailer to lose out custom to their competitors but planning is required in order to keep the focus on profit over sales volume. This shows the rising importance of retail events like Black Friday and Cyber Monday. As these events are growing in popularity, largely fueled by e-commerce trends, it has become more and more critical for the modern retailer to coordinate and synchronize sales and marketing efforts accordingly.
This infographic below examines the impact of the biggest retail weekend in 2014 but it also looks at who “won” and why. It also highlights some expert opinion on the topic and also pinpoints key learnings that can be made for retailers to get the most from it for this year.
With both Black Friday and Cyber Monday just about the corner, are you planning to get yourself something special or something that you’ve been meaning to get for some time? Check out the Spiritual Gangster Black Friday and Cyber Monday sale for great deals on yoga clothing and accessories for you, your friends, and family!
Elizabeth Morris
