Black Friday 2023: What is it and how does it arise?

“Black Friday 2023″ or “Black Friday,” a term that resonates with excitement around the world, has become a highly anticipated annual event. This massive discount day marks the start of the holiday shopping season and offers shoppers the opportunity to find products at reduced prices in a wide range of categories.

In this article, we will tell you in detail what Black Friday is, what is its origin and why it has become an excellent marketing strategy in the world of commerce and shopping today.

What is Black Friday 2023?

Surely you have asked yourself, what is Black Friday, here we explain it to you. Black Friday is an annual shopping event held one day after Thanksgiving Day in the United States, marking the beginning of the holiday shopping season.

On this day, many stores offer deep discounts and special promotions on a wide range of products, from electronics to clothing, home, technology and more.

What is the origin of Black Friday?

Originally, the term “Black Friday” was used to describe the traffic congestion and chaos on the streets due to the start of the holiday shopping season.

However, over time, the connotation has changed and it is now known as a day when retailers offer massive discounts to attract shoppers, often generating a large volume of sales in a single day.

Black Friday 2023 has spread beyond the United States and is now a global event, with stores in many countries offering special discounts and attractive promotions for consumers.

What are the benefits of Black Friday 2023 for shoppers and retailers?

Buyers:

• Attractive discounts: Shoppers see Black Friday as an opportunity to purchase products at lower prices, allowing them to save on their holiday shopping or purchase items that would normally be out of their budget.

• Shopping planning: Consumers take advantage of this day to plan their purchases, research deals and art

• Shopping experience: The event creates an exciting experience, with the excitement of bargain hunting and sharing experiences.

• Anticipation of exclusive offers: They wait and prepare for exclusive discounts, which generates a sense of a unique opportunity to purchase products at more attractive prices.

Merchants

• Increased sales: This is a key opportunity for retailers, as it generates a significant increase in sales, which can make a difference in their annual figures.

• Inventory cleanup: Allows them to get rid of old inventory, promote new products and improve their product rotation.

• Promotion and advertising: They take advantage of this date to generate promotion and advertising, attract new customers and improve their market presence.

• Early Profit Generation: Starting the holiday shopping season with strong sales on Black Friday can positively influence rents.

In short, it is a key event for shoppers, who are looking for exceptional discounts, and for retailers, who see this day as an opportunity to increase sales, improve visibility and generate significant profits.

How has Black Friday 2023 evolved?

Event Duration

• Temporary expansion: The event has experienced an expansion in the duration of the offers. What used to be a single day of massive deals now extends sometimes for weeks, with pre-Black Friday promotions and later extensions, including the so-called “Cyber Monday”.

• Advance preparation: Retailers start advertising campaigns and promotions in advance.

Black Friday Outreach and Engagement

• Internationalization of the event: What was initially a U.S. event has internationalized, being adopted by numerous countries around the world, with stores and online platforms offering special discounts.

• Online participation: Online presence has become more relevant. Discounts are not only offered in physical stores, but also through digital platforms and websites, boosting e-commerce.

• Diversification of offerings: A wide range of products and services are now included, from electronics to fashion, travel, entertainment and more.

Changes in the Shopping Experience with Black Friday

• Increased planning and analysis: Shoppers now plan ahead, research deals and compare prices, using online resources to maximize their savings.

• Increased emphasis on the shopping experience: Stores are looking to enhance the consumer experience by offering shipping.

What types of companies have joined Black Friday 2023?

Black Friday 2023 has attracted a wide range of businesses and industries, and its popularity has grown tremendously over the years. Various types of companies have joined the event to take advantage of the opportunity to increase their sales and attract consumers.

Some of the sectors that have joined Black Friday are:

1. Retail: Department stores, electronics, fashion, footwear, furniture, household goods, supermarkets and other physical and online retailers.

2. Technology and electronics: Companies that offer technology products such as smartphones, computers, tablets, televisions, cameras and other electronic devices.

3. Travel and tourism: Airlines, hotel chains and online booking platforms offering discounts on flights, hotels, vacation packages and activities.

4. Fashion and apparel: Apparel, footwear and accessories brands that promote discounts on fashion apparel, clothing, shoes and accessories.

5. Entertainment: Streaming platforms, video games, books, music and other entertainment-related products.

6. Food and beverages: Supermarkets, wine and liquor stores offering discounts on groceries and beverages.

Overall, the diversification of companies participating in Black Friday reflects the breadth of deals available, from electronics to home goods, fashion, travel, entertainment and more. This diversity allows a large number of consumers to find relevant and attractive offers in different sectors.

Black Friday 2023 as a marketing strategy

Black Friday 2023 has become a highly effective marketing strategy for many companies. This strategy involves creating special offers and discounts in order to attract customers, increase sales and improve brand visibility.

Here are some key aspects of how Black Friday is used as a marketing strategy:

Demand generation

Black Friday creates a sense of urgency among consumers by offering limited-time deals and discounts. This tactic encourages demand for products and services, which can lead to a significant increase in sales.

2. Attraction of new customers

Special offers and reduced prices attract new customers looking to take advantage of the deals. This may result in the acquisition of customers who, in the future, will continue to buy at regular prices.

3. Increased sales with Black Friday 2023

Black Friday 2023 is an important time in the sales calendar for many companies. Special offers can generate a significant increase in sales, which is beneficial to financial performance.

4. Intensive marketing campaigns

Companies run intensive marketing campaigns before and during Black Friday. This includes advertising on television, radio, social media, promotional emails and other efforts to highlight offerings.

5. Brand positioning

Companies can use Black Friday to strengthen their market presence and reinforce their brand image. Offering discounts and attractive offers can improve consumers’ perception of the brand.

6. Strategic planning

Companies carefully plan their participation in Black Friday, selecting specific products and services to promote and determining discount levels. This involves a pricing strategy and cost analysis.

Black Friday 2023, more than just a shopping event, has evolved into a powerful and highly effective marketing strategy for companies in a variety of industries.

This day of massive discounts not only attracts consumers looking for bargains, but also represents an opportunity for companies to increase their sales, attract new customers and reinforce their presence in the market.

Join Black Friday with successful strategies! At Kiwop, we provide you with the best tactics and advice to successfully join this event. Increase your sales, attract new customers and strengthen your brand. Let us be your partner for Black Friday! Contact us today to start planning your strategies.