So today is Black Friday. A term which means virtually nothing this side of the pond but has grown in usage and significance in the US over the past few years and is starting to be heard a little in the UK.
The term Black Friday is used to describe the day after Thanksgiving which has traditionally been the busiest shopping day of the year for retailers. Shops open early, often in the middle of the night, and shoppers are out in big numbers. Opinions differ as to why it’s called ‘Black’ Friday but our favourite explanation is that it is the day of the year when retailers finally move into profit or ‘into the black’
So Black Friday is all about shoppers, ‘real’ ones, out in hats and scarves walking the streets. But what about online shoppers or mobile shoppers? Well we had Mega Monday (Cyber Monday for our American cousins) earlier this week. It may have passed you by unnoticed but Monday was meant to be the day that online shoppers spending reached its annual peak, estimated to be £424m in a single day just in the UK.
The total UK online spend in 2011 is estimated at £13b, mobile shopping is already estimated to be 12% of this figure. So that means, with a quick bit of maths, that just over £50m was spent on mobile shopping in the UK last Monday.
Can you really afford for your company to not have a mobile retail strategy?