Interesting Facts About Black Friday and Cyber Monday

Every year, consumers and retailers across the U.S. anxiously await the arrival of the two busiest shopping days of the year – Black Friday and Cyber Monday.   From the promotional sales offered in stores on Black Friday to the deeply discounted Internet sales of Cyber Monday – these two days are a bargain hunter’s paradise and represent the start of the Christmas shopping season.  While most people know about the sales offered on these two days, many Americans know little about how Black Friday and Cyber Monday came to be.  After all, what does the term “Black Friday” really mean?  In this post, we’ll answer this question and provide some other interesting facts about Black Friday and Cyber Monday.

 

Black Friday Q&A

  • How Did Black Friday Get It’s Name?  Originally, the term “Black Friday” was coined by the Philadelphia Police Department in 1966 to describe the crowds of people, traffic jams, and sometimes even violence near the downtown stores.  However, in later years, a more positive definition of Black Friday was offered:  that “Black Friday” represents the point at which retailers begin to turn a profit, or are “in the black”.
  • When Is Black Friday?  Black Friday takes place each year on the Friday following Thanksgiving.
  • Is Black Friday Really the Biggest Shopping Day of the Year?   While Black Friday traditionally represents the start of the holiday shopping season and may be the busiest shopping day in terms of traffic, some argue that Black Friday is not the day with the highest sales volume.  In fact, according to an article published by misconceptionjunction.com, the biggest shopping day of the year is almost always the Saturday before Christmas, the day when all the procrastinators hit the stores to find last-minute gifts.
  • Fact:  In 2010, consumers spent a record-breaking $10.69 billion on Black Friday
  • Fact:  2011 is predicted to be the year of the Smartphone shopper.  It is estimated that 15% of purchases made on Black Friday 2011 will come from mobile shoppers.
  • Fact:  According to todayifoundit.com, nearly 135 million people go out to shop on Black Friday every year.

Cyber Monday Q&A

  • How Did Cyber Monday Get It’s Name?  Cyber Monday was a marketing term created by Shop.org in 2005 to encourage consumers to shop the online sales on the Monday following Black Friday.  According to cybermonday2011.com,  Shop.org coined the phrase when they saw a 77% increase in online sales and shopping on that day. 
  • Is Cyber Monday the Biggest Online Shopping Day?  Cyber Monday is becoming an increasingly big day for online retailers.  In past years, the largest volume of online shopping has occurred between December 5-15.  However, in 2010, comScore reported that shoppers spent $1028M online on Cyber Monday, which accounted for the highest spending day of 2010.  Retailers are hopeful that 2011 will bring an even bigger increase in sales.

For more interesting facts regarding Cyber Monday, check out the infographic available at volusion.com.

Black Friday Store Hours

Heading out to the Black Friday sales?  Here’s a list of store hours to help you plot your course.  Good luck!

  • WalMart – 12:00 am
  • Best Buy – 12:00 am
  • Toys R Us – Store opens – Doorbusters @ 9 PM Thursday
  • Target – 12:00 am
  • K-Mart – 5:00 am
  • JCPenney – 4:00 am
  • Kohl’s – 12:00 am
  • Macy’s – 12:00 am
  • Sears – 4:00 am
  • Staples – 6:00 am
  • Menards – 6:00 am