You may ask what is Black Friday? And why do people mention it so often when November starts? Well, the answer is quite simple. Historians believe the name started in Philadelphia in the mid-1960s. Bus drivers and police used “Black Friday" to describe the heavy traffic that would clog city streets the day after Thanksgiving as shoppers headed to the stores to start Christmas shopping. As years went by, Black Friday became a tradition to open the Christmas season with great deals and fun. It also helps to stimulate the economy (https://wonderopolis.org/wonder/Why-Is-It-Called-"Black-Friday").

Source: Infographic: Cyber Week Spending Set to Hit New Highs in 2023

In 2020, the online sales on Cyber Monday reached $10.8 billion, making it the biggest e-commerce selling day of all time. Why is that? Here’s one clue:

The average Black Friday discount is around 45%, with offers going from 20% to 80%. In contrast, the Cyber Monday average discount is about 50%, with deals going from 20% to 90% off (19+ Awesome Black Friday vs Cyber Monday Statistics for 2023)

While Black Friday and Cyber Monday both began as distinctly American phenomena, they quickly became immensely popular globally. So, we decided to have a quick look across Europe and compare it with the US.

Here is the total value of sales during Black Friday and Cyber Monday in selected European countries from 2018 to 2020 (in million GBP):

Black Friday spending in Europe 2020 | Statista

In Europe, UK shoppers are the most aware about Cyber Monday, with a share of 89%, followed by shoppers from Germany (86%), Spain (85%), Italy (80%), Netherlands (70%), and Sweden (69%) (67 Remarkable Cyber Monday Statistics: 2023 Shopping Data & Consumer Behavior - Financesonline.com)

In 2020, men were more interested in electricals and technology. They intended to spend around £373, while women set their budget at a more modest £244. The high spenders are those aged 35 to 44, with average spending of £429. This is more than twice as much as the seniors’ budget of £201.

If we analyze the trend, we can see that since 2013 Black Friday sales have grown each year with no signs of slowing down. In fact, Black Friday and Cyber Monday have become more of an online shopping event, providing a huge opportunity for retailers to introduce conversion rate optimization tactics and other e-commerce marketing strategies. When deciding whether to choose Cyber Monday or Black Friday, consumers are increasingly tired of crowds and rely on mobile devices. And if that’s not all, the COVID-19 has forced most consumers to avoid brick-and-mortar stores as much as possible. So, retailers are following that trend. And with more and more deals being tailored to Cyber Monday, it’s quite easy to save money shopping online ({https://www.salecycle.com/blog/featured/11-black-friday-and-cyber-monday-online-retail-stats/](https://www.salecycle.com/blog/featured/11-black-friday-and-cyber-monday-online-retail-stats/)).  

One of the best ways to boost your sales revenue during Black Friday and Cyber Monday is by implementing up-sell & cross-sell tools to your e-commerce store. Want to know how using up-sell and cross-sell can drive e-commerce sales on Black Friday & Cyber Monday? Learn more here: (https://new.cortip.com/2023/12/29/5-benefits-of-up-sell-cross-sell/)

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