Black Friday, a commercial phenomenon rooted in the United States, has transcended borders to become a pivotal event in international commerce. This day, characterized by enticing discounts and irresistible offers, not only marks the onset of the holiday shopping season but also significantly impacts global economies.
Numbers That Speak for Themselves
Black Friday has solidified its position as a crucial milestone in the global commercial calendar. Revealing data from 2022 showcases an unprecedented surge in sales during this event. Globally, transactions during Black Friday soared to an astounding $90 billion, surpassing expectations and setting a record.
While the United States continues to lead in terms of sales during this event, with a 15% increase in physical purchases and a staggering 42% surge in online shopping, the expansion of Black Friday beyond its borders has been a notable trend. Europe experienced an overall 25% increase in retail sales during this period, highlighting the significant impact of Black Friday in countries like Germany, France, Spain, and Italy.
The Role of E-commerce
The rise of e-commerce has been a key factor in the explosive growth of Black Friday on an international scale. Online sales accounted for approximately 45% of total sales during this event in 2022, marking a significant 32% increase from the previous year. This shift towards digital platforms has provided greater convenience for consumers, who increasingly prefer making purchases from the comfort of their homes.
Mobility and accessibility have been fundamental pillars in the sales growth during Black Friday. The increase in the use of mobile devices for online shopping was evident, with a 55% rise in transactions from smartphones and tablets compared to previous years.
Moreover, the impact of Black Friday extends beyond consumer products. Industries such as technology, fashion, travel, and entertainment also witnessed significant increases in their sales during this period, demonstrating the versatility and diversity of offers encompassed by this event.
Impact on International Commerce
Black Friday not only benefits retailers but also has a positive impact on the global economy. The rise in sales leads to a significant boost in production and supply chains, creating temporary employment and strengthening key sectors such as logistics and transportation.
Furthermore, Black Friday has proven to be an opportunity for international brands to expand their reach and penetrate new markets. Region-specific marketing and advertising strategies have resulted in increased brand recognition and consumer loyalty.
When and How Long Does Black Friday Last in Spain?
Black Friday takes place every year on the first Friday after Thanksgiving in the United States. In 2023, this date coincides with November 24th. Additionally, Cyber Monday takes place on the Monday following Black Friday.
Initially, Black Friday was confined to a single day. However, in recent years, its duration has extended. Now, we find brands and e-commerce platforms offering discounts and deals from the day of the event up to even a week later, combined with Cyber Monday.
Conclusions
Black Friday has evolved from being an exclusive event in the United States to becoming a global phenomenon driving international commerce. Sales figures and economic impact reflect its significance for both retailers and the economy. With the continued growth of e-commerce and the expansion of international offers, Black Friday is expected to continue playing a crucial role in the global commercial landscape in the coming years.
In summary, the figures reveal the undeniable power of Black Friday as a global sales engine. Its ability to drive consumption, strengthen the economy, and diversify commercial opportunities positions it as an indispensable event in the international retail landscape.