Jacobs Media's Dave Beasing pulls back the curtain on myths of "Black Friday" and "Cyber Monday."
The day after Thanksgiving is called “Black Friday” because – as the busiest shopping day of the year – that’s when retailers finally “get into the black,” show a profit. Right? Wrong. Last year, Black Friday only ranked 9th in sales, far surpassed by the two weekends just before Christmas.
The Monday after Thanksgiving is called “Cyber Monday,” because – when consumers get back to work in front of their computers – that’s the busiest online shopping day of the year. Right? Wrong. “Cyber Monday” was coined in 2005 by Shop.org, part of the National Retail Federation. In reality, Cyber Monday isn’t even among the Top 10, with more online purchases reported during several days in December.
Both events exist for one simple reason: Marketers created them. Give them credit for…
- Declaring an exciting “opening” to the season, rather than a “soft launch”
- Creating urgency
- Setting annual appointments with consumers
- Using a credible storyline to garner media coverage and buzz