Black Friday a Huge Success for Irish Retailers
Friday 28th November was a runaway success for many retailers in Ireland, the UK and Northern Ireland as shoppers became overheated in a number of cases in the buying frenzy that took place. In hard figures, we have heard reports of increases in sales on the same Friday the previous year in the order of 70%. Of course for those who did not engage with the day by offering meaningful discounts, the gains were less.
In the US it appears that Black Friday may have lost its lustre as sales were down c. 5%, however the following so called Cyber Monday, saw online sales rise in the order of 15%.
There is no doubt that shoppers are checking out the internet for where to find the best value on the high-street. This is has been termed ‘webrooming’ as opposed to ’showrooming’ where shoppers check out stock in stores and then go hunting online to find better value for the same product. Just as online sales are impacting bricks and mortar sales, so too is online driving bricks and mortar sales. We are even seeing online stores opening bricks and mortar stores.
Research conducted by CFI indicates that “84% of shoppers use digital tools before and during their trip to a store”. ”Additionally, those shoppers convert, or make a purchase, at a 40% higher rate than those who do not use such devices during their shopping journey.” Although this research is USA based, the experience in Ireland is already very similar and certainly heading that way.
Despite the recession the experience of shopping is more popular than ever popular – just note the trend to ever earlier/later opening times over Christmas and the New Year period. It is hard to beat the excitement and delight of Christmas shopping in beautifully decorated stores, the Christmas music, the smells and fun of shopping and stopping for a coffee and a mince-pie in the midst of it all. It’s part of Christmas!
Retailers need to make the most of it and use digital media to increase footfall over this most important shopping period.
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Bright Star Marketing is a member of the Institute of Management Consultants in Ireland, a Member of the Marketing Institute of Ireland and the Digital Marketing Institute.