The birth of Black Friday and Cyber Monday
It all started in America, where Thanksgiving Day is a huge national holiday. Thanksgiving always falls on a Thursday – the fourth Thursday in November - and over the years, the next day, Friday, became the day when millions of Americans go shopping. It became so busy, in fact, that in the 1960s the traffic congestion and sheer numbers of shoppers led to the day after Thanksgiving being described, pejoratively, as “Black Friday”.
The name stuck, though these days Black Friday is seen as a good thing, and it has since become America’s busiest shopping day of the year, the day when stores open all night and shoppers go mad – and sometimes fight and brawl - for bargains.
Then, just over a decade ago, when online commerce was becoming the enormous business that it is today, a group of online retailers in the US decided to extend the Thanksgiving/shopping weekend and introduced Cyber Monday. As well as being a big day for discounts at online stores such as Amazon, this is a day that offers smaller retailers with an online presence the chance to compete with the big stores.
Each year since 2005 has seen a substantial rise in US online retail receipts on Cyber Monday. And both Black Friday and Cyber Monday have spread across the world, with retailers in the UK now offering substantial discounts. (Unfortunately some of the more unpleasant side-effects, such as fighting on Black Friday, have come to the UK too.)
A Brief History of Online Shopping
But let’s rewind for a moment and look at the history of online shopping. These days, online shopping is part of everyday life; all kinds of goods and services, from Hula Hoops to holidays, are just a few clicks away. Although shoppers had been ordering items online for several decades from the 1970s onwards, the first real e-commerce transaction – ordered and paid for online, with full encryption – took place in 1994. Dan Cohn, then a 21-year-old entrepreneur in New Hampshire, sold a copy of Sting’s album Ten Summoner’s Tales for $12.48, plus shipping costs, which was bought and paid for with a credit card by a friend.
What followed was an explosion of online transactions, with internet giants such as Amazon growing fat on the boom, and with customers secure in the knowledge that with digital encryption their transactions are secure.
And where America leads, others follow. In the past 20 years the UK has become the third largest e-commerce market in the world.
More than 92 per cent of the UK’s population is connected to the internet, and in 2015, 77 per cent of them made an online purchase – the highest proportion of online shoppers in Europe. Selling online gives even the smallest online retailer access to this vast market. Twenty years ago, someone who makes, for instance, handmade jewellery, would have had to set up a stall or a shop, or persuade stores to stock their products. Now, geography is no impediment; anyone can sell almost anything from almost anywhere. Alongside the growth in e-commerce there has been a boom in logistics companies fulfilling orders speedily and efficiently.
What Do We Buy Online?
So, what kind of things do we now buy on the internet? The most popular items are electronics, video games, computers and phones. Fashion and clothing are also popular. The furniture business was initially slow to adopt e-commerce but it is now catching up.
What drives consumers online?
Chiefly, of course, it’s the convenience of being able to buy from a computer. Consumers are attracted by sites that offer plenty of information and a comprehensive visual display of the products – in other words, good images. Online reviews are also an important factor – a survey a couple of years ago found that 77 per cent of British consumers consult online reviews before purchasing. Additionally, many customers will research products online before visiting a showroom, and these so-called “bricks-and-clicks” operators have become an important part of the furniture industry.
The Price Must Be Right
The main driver of online shopping is price. Online shoppers have become canny. They are able to compare prices very quickly and will often wait for prices to go down. Which brings us to Cyber Monday, the day of discounting which this year falls on November 27. More than a quarter of UK consumers will buy something on Black Friday or Cyber Monday.
Cyber Monday offers a chance for consumers – whether individuals or businesses – to grab the bargains that they might have missed on Black Friday, and also to avoid the crowds of jostling Black Friday shoppers.
Cyber Furniture
A growing proportion of items bought on Cyber Monday are furniture purchases, the majority of which will be domestic. But contract furniture suppliers are also capitalising on the growth in sales over the discounting period and offering Black Friday and Cyber Monday reductions.
Among them is Trent Furniture. This long-established firm, based in the East Midlands, sells attractive, hard-wearing furniture for pubs, cafés, restaurants, banqueting, and so on. Although Trent Furniture has a warehouse and showroom near Leicester, it is a “bricks-and-clicks” retailer with a substantial online presence. Potential online buyers can browse in an attractive, easy-to-navigate environment. Strong and clear images with informative text on the website ensure that buyers know exactly what they are getting.
For this year’s Cyber Monday, for one day only, Trent Furniture is offering 5 per cent off all purchases – a substantial saving in these days of tight margins and squeezed revenues. This 5 per cent discount also applies to Trent Furniture’s packages, which offer a co-ordinated collection of matching furniture. Trent Furniture has control over all aspects of the furniture manufacturing process, which means that it can ensure that its packages of matching furniture really do co-ordinate. Delivery is normally within 10-14 days on stocked items.
As mentioned earlier, a powerful driver for online purchases is customer reviews.
Trent Furniture’s Google reviews make very good reading – out of 188 Google reviews, the average rating for Trent Furniture is 4.9 out of 5 stars. Whatever the purchase - from conference chairs to sofas for a church’s lounge area - the feedback is overwhelmingly positive.
These reductions apply only during Cyber Monday, November 27 2017. But of course it’s worth remembering that throughout the rest of the year, Trent Furniture continues to offer high-quality furniture at very competitive prices.