Black Friday & Cyber Monday 2014 – Key Learnings For Asia Pacific

Introduction

Every year, the first Friday after Thanksgiving marks the popular shopping day known as Black Friday, where retailers compete with one another to offer the best discounts and customers do the same to claim coveted deals in-store. Black Friday has since evolved, moving into the online space to cater to increasing eCommerce growth. This has also led to Cyber Monday’s popularity (first launched in 2005), the equivalent of Black Friday but focused purely on eCommerce.

According to a report by IBM in 2014, Cyber Monday remained the busiest day for online shopping over the five day period (Thanksgiving to Cyber Monday) in the US. In 2014, Cyber Monday saw overall online sales jump by 8.5%. Mobile sales, which account for 22% of all Cyber Monday sales, also increased by 27.6% compared to figures in 2013. While Thanksgiving is traditionally celebrated in the US, the spread of Black Friday and Cyber Monday have gone far beyond the US market. In a 2013 report by eCoupons.com, Black Friday and Cyber Monday shoppers from outside the US market also began increasing in 2013, accounting for nearly USD $125 million or 5% of total sales figures.