These are days shoppers and business owners most look forward to; the days businesses showcase their best deals and discounts. With this in mind, it’s crucial that retailers have a strategy for these special sales days so that they can make their offers stand out and drive sales. We’ve rounded up some fun facts we think every business owner should know:
- “Singles' Day” or “Double 11”, is a Chinese shopping period that has become an unofficial celebration of singletons.
- Singles’ Day broke a Guinness World Record for producing the highest online sales revenue generated by a single company in 24 hours ($14 billion).
- In the recent Lazada 11.11 Biggest One-Day Sale, sales broke records with over 1 billion Thai baht within 2 hours.
- Alibaba's 11.11 Global Shopping Festival 2020 exceeded 2.2 trillion Thai baht doubling last year’s sales of 1.1 trillion Thai baht.
- Cyber Monday was created by retailers to encourage people to shop online.
- 95% of American consumers who are employed admit they will be shopping the Cyber Monday sales at work.
- Referral traffic from social media goes up 240% on Cyber Monday.
- During Cyber Monday’s peak, Amazon will sell an estimated 320 products per second.
- Black Friday is an informal name for the Friday following Thanksgiving in the United States.
- In the U.S. in-store traffic actually peaks at 4pm on Black Friday, not early in the morning as some may think.
- In Mexico, Black Friday is referred to as “El Buen Fin”, which translates to “the good weekend”.
- In the U.S. Black Friday online shopping sales hit an all-time high last year at $7.4 billion.