Black Friday has become a very popular holiday, especially with the rise of social media and the ability to spread awareness of sales and discounts very quickly. If you ask most people about which retail holiday they know the most about, chances are you’ll get Black Friday as the answer. That shows how famous the holiday has become.
You may also hear a mention of Cyber Monday, which takes place a few days after Black Friday. Many people regard the whole weekend as the same big retail holiday. That’s why they go out and spend most of their disposable income on that weekend. Another reason is that it’s very close to Christmas, so people are thinking about what they can buy for their friends and loved ones. Another option is to introduce them to Betway online casino, where players can win real money.
However, there are also other holidays that occur in the retail calendar, and it’s worth seeing how they compare to Black Friday. Some of them take place in particular countries, whereas others are global in much the same way as Black Friday.
One of the best examples is Singles’ Day. This takes place as the opposite of Valentine’s Day and occurs in China. China is one of the world’s most populous countries, with more than 1 billion citizens. That means any retail promotion that takes place there will bring in a lot of money for businesses. Data shows that $116.6bn was spent on the day in 2020.
Compared to Black Friday, Singles’ Day eclipsed it by a vast amount. Black Friday only saw a total expenditure of $58bn in 2020. That’s still a lot of money, but it shows the purchasing power of China’s rising middle class.
However, it wasn’t always like this. In 2009, only $0.01bn was spent on Singles Day versus $41.2bn on Black Friday. That shows how quickly times have changed, and as we mentioned earlier, it’s possible social media could have a lot to do with it. China does not have Facebook and Twitter, but it does have its own alternatives.
But what about other countries? It turns out that Australia has a holiday called Click Frenzy, and Mexico has one called El Buen Fin. Over $100mn is spent on both of these holidays within these countries. The Retail Doctor, Bob Phibbs, gave his reaction: “If you have enough of a customer base who know you, you can do these kind of things.” That sums it up quite neatly and shows how simple it can be to create a popular retail holiday that inspires people to buy more items.
All this goes to show that retail holidays have been hugely successful and that despite the incredible success of Singles’ Day in 2020, no other holiday comes close to replicating the success of Black Friday. It’s clear that part of this is down to people looking for great bargains, but they can also find these in different ways, like at Betway Casino.
