HomeNEWSThe results are in: Black Friday in New Zealand works

The results are in: Black Friday in New Zealand works

Data from Vend found New Zealand retailers who participated in Black Friday on 27 November saw a 23 percent increase in retail spending.

The average amount spent per transaction also increased by 20 percent.

Retailers selling sporting goods, musical instruments and books saw the biggest jump in terms of sales, with spending in their stores more than doubling when compared to average.

Read our coverage on what Kiwi retailers were participating in Black Friday here.

Sales figures for Cyber Monday, which was held yesterday, weren’t available.

In the US, it was reported the 10-year-old ecommerce shopping event has lost some of its appeal as online sales occur all year round now.

However, Monday is still expected to be the biggest online shopping day ever for the US, with more than $3 billion in sales, according to research firm comScore.

Sales days and their origins:

Cyber Monday: The day was created as a counterpart to Black Friday in 2005 by the National Retail Federation’s online arm to encourage people to shop online. It’s known as the unofficial start of the online holiday shopping season, as internet-savvy shoppers head to their favourite retailers’ sites to scoop up some sales ahead of Christmas.

Black Friday: The day is held the day after Thanksgiving in the US and marks the start of the bricks and mortar Christmas shopping season.  Investopedia says the reference to “black” is not intended to be sinister, but instead refers to the day’s profitability for retailers, who would traditionally see the surge in sales push their margins back into the black as customers attracted by deep discounts shopped until they dropped.

Click Monday: Is a New Zealand event created by ecommerce guru Cate Bryant to emulate Cyber Monday in the US. The event was started in 2013. It had one hundred online retailers offering more than 1200 discounts in 2014.

Click Frenzy: Like Click Monday, Click Frenzy was created in 2012 in Australia and inspired by Cyber Monday. However, when the sale went live, the site crashed due to the volume of visitors and was down for most of the night. Disgruntled customers soon made the sale the subject of a hashtag, #clickfrenzyfail, with many mocking the event. Retailers involved were scared the backlash would damage the credibility of online retailers.

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