Black Friday in Europe: A Growing Tradition Transforming Retail Strategies
As Black Friday sweeps across Europe, retailers are poised for a vital glimpse into the 2019 Holiday Season’s potential. Originating in the US in 1952, this shopping phenomenon has taken just five years to become a significant force in European retail, challenging initial scepticism and prompting strategic shifts.
Black Friday’s Historical Roots
In 1952, Black Friday was coined in the US as retailers marked the day after Thanksgiving when profits turned red to black. While initially exclusive to the American retail landscape, the phenomenon has recently made significant inroads in European markets.
The Rise of Black Friday in Europe
European retailers have embraced Black Friday despite initial hesitations, with sales figures rapidly approaching those in the US. According to Adobe Insight’s 2019 report, holiday spending in Europe is projected to grow by 10%, just below the US estimate of 11%. Black Friday has witnessed a staggering 124% growth over the past four years.
European Powerhouses in Black Friday Sales
The impact of Black Friday varies across Europe, with the UK, Germany, and France leading the charge. Projections for 2019 indicate substantial spending in the United Kingdom and Germany. Both are expected to grow by 10%, reaching 27.1 billion euros and 22.9 billion euros, respectively. Meanwhile, France anticipates an 11% growth, reaching 14.3 billion euros.
The Nordic Countries have experienced a remarkable surge, with Black Friday sales increasing by 187% since 2013.
Black Friday 2019 Outlook
As Black Friday approaches, anticipation builds for its potential to become the most significant shopping day across Europe. Rapid adoption and impressive sales figures underscore that Black Friday is more than hype or emulation of American practices. The key focus remains on customer experience and expectations, with smart retailers leveraging this shopping phenomenon to capitalize on consumer enthusiasm.
Black Friday is no longer confined to American tradition; it has evolved into a global retail force reshaping strategies and consumer behaviours. The holiday shopping season kicks off as cash registers ring, marking Black Friday’s entrenched position in the European retail landscape.
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