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black friday: origins and, trends

Who doesn't know the famous holiday of "Thanksgiving" where the whole family gathers around a "stuffed turkey" in many American movies and TV shows ?

Black Friday is the Friday directly following the holiday. The phenomenal sales in all the stores and brands of the world have become a global phenomenon while it was originally appeared during the economic crisis of 1929, many merchants had to sell their goods at low prices for fear of recession. Thus, it is better that the accounts of companies go black, synonymous with a positive account, better than red, hence the origin of this Friday colored in black. This concept has continued to grow throughout the world, until today when it has taken on several other colors, even other nomenclature …

Cyber monday & single day

Cyber Monday : 

Three days after Black Friday, it’s time for Cyber Monday. This event, which uses the same principle, is specific to online sales and e-commerce sites.

Single Day :

The Americans have their Black Friday, the English have their Boxing Day on Christmas Eve, the Chinese have created, from a joke between students, the Single Day, a holiday for singles that is celebrated on November 11 each year. The Chinese e-commerce giant AliBaba has made this occasion a special day, every year millions of discounts up to 80% on millions of products.

General trends for Black Friday

According to the World Economic Forum article published last year after Black Friday, U.S. consumers spent $54 billion on Black Friday. On the other hand, British consumers dominated Black Friday spending in Europe with £10.45 billion spent, while Germany and France followed closely behind.

China was also part of the map with its Single Day. Last year, the Chinese spent $38 billion on Alibaba’s sites.

Black Friday is spreading and gaining popularity. The implication for businesses is that competition is increasing. At the same time, with new technologies and e-commerce such as website tracking and marketing automation, product recommendation systems, etc., markets are becoming faster and with unlimited horizons.

An impulse purchase study (unplanned purchase, decision making in confrontation with the offer) in the UK showed that most impulse purchases were made by clothes and various accessories (43%), the next three places were occupied by various types of consumer electronics (cameras, games, cell phones, tablets, etc.). Cosmetics, books and jewelry accounted for one-fifth of the total impulse purchases.

In Tunisia, when will the day come when we get out of the boring periods of 10% discounts?

This trend rooted in global culture, is barely flourishing in Tunisian stores, with the exception of Jumia, the leader in online shopping, which allows Tunisians to enjoy full of amazing offers and throughout the month, with discounts on major brands as well as flash sales on various products, is indeed the only little corner of heaven in Tunisia.

But, today, we are still far from collecting real and exploitable statistics for marketers. However, in other countries statistics and trends are being studied and we can really tell what a Black Friday is worth!

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