Black Friday isn’t anymore only an American trend.
On November 27th the time has arrived for Black Friday – the American phenomenon that takes place the day after Thanksgiving. Last year American consumers spent 1.2 million dollars during the first minute online, which demonstrates the impact it has on consumers on the other side of the Atlantic.
But how significant is the day in the Nordics? In Sweden, for instance, reports from last year illustrate that more was sold than during any other day and up to 28 transactions per second were made.
Black Friday this year will most likely beat all the previous records. From 2013 there has been a substantial growth in search volumes – this refers to the amount of people searching for the term Black Friday across the Nordic countries. This indicates a heightened interest among the Nordic consumers and more people are aware of the day. The search volumes have skyrocketed in the countries: In Sweden the average search volume increased by 172 percent in 2014 compared to 2013 (from 90 500 to 246 000), in Denmark it increased by 232 percent and in Finland by 140 percent.
Biggest Online Shopping Day Of The Year
CupoNation has created predictions regarding the sales in 2015, which are based on several different variables such as general trends in the stock market, what the sales looked like last year and the growing interest the months before November. Based on the estimates, in Sweden the consumers will spend 2.9 billion SEK in comparison to last years 1.9 billion SEK and in Denmark 1.9 billion DKK compared to last years 1.5 billion DKK.
One explanation for the growing interest might be big players like Apple and Amazon that have a history of influencing consumer behaviour and setting new trends on the e-commerce market. Black Friday this year will certainly be a day that will have a considerable effect on both companies and customers who embrace it in the right way.
As a phenomenon, Black Friday has not only become bigger in the Nordics, but British analysists predict that it this year will become the first online shopping day where British consumers will spend one billion pounds.
Some experts have made remarks that Black Friday will never reach the same heights as in the U.S., since most of the Americans are free after Thanksgiving, while we do not have a holiday in relation to it. But it is getting more well-known among the Nordic consumers each year. At the same time it is a great occasion for many online stores and consumers are getting the opportunity to shop their Christmas gifts earlier since an additional discount day is created.
This post is written by Mads Bukholt from CupoNation, who has created a domain this year specifically for Black Friday. Source for local data in the article is provided by FDIH in Denmark and Nets.
