Black Friday is a term that almost everyone knows by now – and for good reason. This day marks one of the strongest sales days of the year and offers companies worldwide the opportunity to increase their sales enormously in a short space of time. But what exactly is Black Friday, how did it come about and what opportunities does it present for online businesses? In this comprehensive blog post, we get to the bottom of these questions.
What is Black Friday?
Black Friday is traditionally the day after the American Thanksgiving holiday, which is always celebrated on the fourth Thursday in November. In the USA, Black Friday is regarded as the starting signal for the Christmas shopping season, and many retailers offer massive discounts and special offers on this day to encourage customers to buy. Black Friday has now established itself worldwide and attracts consumers and companies alike.
The history of Black Friday
The origin of the term “Black Friday” dates back to the 1960s. It was first used in Philadelphia to describe the chaos and traffic that ensued when crowds of people flocked to the city to shop after Thanksgiving. Merchants then began to use the term to emphasize the positive financial effects of the day. In accounting, profits are traditionally written in black ink (as opposed to red ink for losses). Therefore, for many companies, “Black Friday” signifies a transition from losses to profits – going “into the black”.
Since the early 2000s, Black Friday has also spread worldwide. In Europe, Latin America and Asia in particular, this day has become an integral part of shopping culture. In many countries, including Germany, the UK and Australia, the trend has become so widespread that retailers extend their offers to the entire weekend or even organize a “Black Week”.
When does Black Friday take place?
Black Friday takes place every year on the Friday after Thanksgiving. As Thanksgiving is always celebrated on the fourth Thursday in November, the date of Black Friday varies between November 23 and 29. For 2024, Black Friday falls on November 29.
What opportunities does Black Friday offer for online businesses?
Black Friday is not only an important sales period for brick-and-mortar retailers, but also offers immense opportunities for online businesses. Especially since the rise of e-commerce in recent decades, online retail has turned Black Friday into a global event. Here are some of the key benefits that Black Friday offers to online retailers:
- Increased reach and visibility: online search volume skyrockets on Black Friday. Millions of customers scour the internet in search of the best deals. Through targeted online marketing campaigns, online retailers can ensure that their products and offers are at the center of attention. Advertising formats such as Google Ads, social media ads and programmatic display advertising can be used in a targeted manner to maximize visibility among the relevant target group.
- Attract customers who are ready to buy: A key benefit of Black Friday is that consumers are highly ready to buy. Many customers have specifically chosen this day to make purchases. They actively search for offers and are prepared to make a spontaneous purchase. Online retailers can use this opportunity to increase sales with special promotions such as lightning deals, discounts and bundles.
- Opportunity to reduce stock levels: Another benefit of Black Friday is the opportunity to reduce stock levels. Online stores can use this day to discount older or seasonal goods to make room for new products. Customers are often willing to buy older products if the price is right.
- Increased sales and customer loyalty: The massive demand and increased willingness of customers to buy lead to a significant increase in sales figures. However, Black Friday also offers opportunities for long-term customer loyalty. Through clever email marketing strategies or loyalty programs, online retailers can ensure that one-time buyers become regular customers. After the purchase, discounts for future purchases or personalized offers can be sent out to keep customers loyal to the store even after Black Friday.
- Data analysis for future strategies: Another advantage of online retail is the ability to collect and analyze data (data intelligence). Online retailers can gain valuable insights into the behavior of their customers on Black Friday – which products are particularly popular? Which offers worked best? This data can then be used to optimize future marketing strategies and better respond to the needs of the target group.
Successful online marketing strategies for Black Friday
For your online business to be successful on Black Friday, you need a well-thought-out strategy. Here are some tips on how to make the most of the day:
- Prepare early: plan your campaigns well in advance and make sure your website and online store can handle the expected rush. Test your technical systems and make sure your stock is well organized. Think about what offers and discounts you want to give your customers and prepare the relevant marketing materials.
- Performance marketing: search engines, display advertising and more: Black Friday is all about reaching the right target group at the right time. Performance marketing channels such as search engine advertising (SEA), programmatic advertising and paid social media marketing offer an ideal opportunity to target potential customers.
- Search Advertising (SEA): Google Ads is one of the most effective methods of directly targeting people who are ready to buy. With paid search ads, your offers appear in a prominent position for relevant search queries. A clever keyword strategy and the use of ad extensions (e.g. price and location extensions) can increase the click-through rate and lead potential customers directly to your website.
- Programmatic display advertising: This type of automated advertising makes it possible to place targeted ads on various websites. Programmatic ads reach users based on their browsing behavior, demographics and other factors. Especially on Black Friday, when competition is high, automation helps to quickly and efficiently reach the right target groups and address potential customers at different stages of the customer journey.
- Social media advertising: Platforms such as Meta (Facebook and Instagram) offer extensive targeting options to address your target group directly. Dynamic ads make it possible to present personalized offers based on user behavior, which increases the conversion rate. Creative formats such as story ads, carousel ads and video ads are ideal for generating attention and encouraging users to buy.
- Targeted use of e-mail marketing: Email marketing is particularly effective on Black Friday. Create a list of your best offers early on and send targeted newsletters to your customers. It is important to offer personalized content that is precisely tailored to the interests of the recipients. A reminder on the day itself can help to persuade undecided shoppers to make a purchase.
- Optimization for mobile devices: More and more customers are shopping via smartphones and tablets. Therefore, make sure that your online store is mobile-friendly and that all processes – from browsing to checkout – work smoothly.
Conclusion: Black Friday – a golden opportunity for online retailers
Black Friday is more than just a shopping event. It is a unique opportunity for online retailers to increase their sales, attract new customers and build long-term relationships. With the right planning and the use of targeted online marketing measures, companies can ensure that they get the most out of this important sales day.
If you plan early, know your target audience well and are prepared to invest in marketing, nothing stands in the way of a successful Black Friday. Use this opportunity to increase your sales and raise awareness of your online store!
