Black Friday & Cyber Monday | Facts & Statistics You Need to Know
Black Friday (and Cyber Monday) unofficially mark the beginning of the Christmas shopping season.
Black Friday’s date is determined by the holiday prior to it – Thanksgiving. Thanksgiving is celebrated every 4th Thursday in November. Black Friday comes the day after.
A common misconception is that Black Friday used to refer to stock market crashes (similar to Black Tuesday from 1929., for example). There is no evidence to support this claim, however.
Black Friday got its current meaning back in the 1960s. Police officers in Philadelphia used the term to describe the shopping chaos that ensued on the day after Thanksgiving.
Cyber Monday is the first Monday after Black Friday. The term first emerged back in 2005 and was constructed by Ellen Davis, who was the president of the NRF(National Retail Federation) Foundation.
Nowadays, large retailers offer discounts days or weeks ahead of the Black Friday, and not only on the date itself.
Black Friday & Cyber Monday – Facts and Statistics
- Cyber Week can refer to the period starting from Thanksgiving and ending with Cyber Monday, but also some people refer to Cyber Week as the week starting with Cyber Monday.
- Globally, in 2023, Black Friday online sales increased by 8% ($70.9 billion) compared to 2022. – Source: Queue-it
- Electronics are the most desired product category during Black Friday and Cyber Monday, followed by clothing and accessories.
- Black Friday first began in the United States but has since spread to the rest of the world. Some countries where Black Friday discounts are popular are the United Kingdom, India, France, Norway, and many more.
- Most online shoppers prefer to place their orders in the evening, between 20:00 and 22:00. Source: Fact Finder
- A significant percentage of buyers are anticipating and preparing for Black Friday, meaning they track prices beforehand. It is estimated that 48% of buyers save money in order to make purchases on Black Friday or Cyber Monday. – Source: Tidio
- The highest discounts are expected to be seen for electronics (up to 30%), toys (up to 28%), and TVs (up to 24%). – Source: Adobe
- During the Cyber Week as a whole online sales reached $298 billion ($298,000,000,000) globally. Furthermore, AI features such as chatbots are believed to have influenced $51 billion ($51,000,000,000) of global online sales. – Source: Salesforce
- Buy now, pay later (BNPL) is becoming the top alternative payment method choice among the US buyers.
- Some businesses plan even months ahead of Black Friday. They plan their logistics, forecast demand, schedule the discounts, hire additional workers, and increase their advertising budgets.
- The point above is also reflected in consumer behavior. Black Friday and Cyber Monday searches start to significantly increase in October, rather than just in November, at least according to Google Trends.
- Cyber Monday outperformed Black Friday in 2023 in terms of the value of sales it generated (and did so largely through digital channels). Source: Techopedia
- In terms of devices used to purchase during Cyber Monday, smartphones were used for 54% of purchases. Source: SaleCycle
- Consumers don’t buy only for themselves, they prefer to gift! An estimated 70% of the average Cyber Week spending has gone toward buying gifts. Source: DigitalCommerce360
Did you learn anything new? If so, we are very glad, as that was our intention!
Make sure to keep an eye on our blog for more upcoming Black Friday & Cyber Monday content coming your way!
