- November 23, 2020
- Posted by: Eva
- Category: Blog
Originated in the US, Black Friday is now the most extravagant sales season across the entire world; a day in which retailers bring in their hottest deals and consumers spend fortunes. The term “Black Friday” was used multiple times in history to describe different incidents, but it wasn’t until 1950 that the police officers in Philadelphia used it to refer to the massive crowds after Thanksgiving celebrations. Years later, the term became synonymous with the last Friday of November, when sellers finally put an end to their all-year-long losses and move their sales curve from the red zone to the “black” area.
More recently, and particularly after online shopping has gained popularity, a new special day came into existence. The term Cyber or Blue Monday was promoted as equal to the Black Friday, but for online shoppers. Now that online shopping has become the new normal, both Black Friday and Cyber Monday are celebrated together within the so-called retail holidays, marking a special sales season ahead of the Christmass.
Although Black Friday celebrations were first ridiculed across some countries, they eventually crossed oceans and turned into a common practice everywhere. Like the US, like the rest of the world. November’s retail bonanza now witnesses record purchases and sales figures all around the world for both e-commerce platforms and brick-and-mortar stores. Eastern Europe was no exception, with countries like Russia, Poland, Hungary, and Ukraine seeing hyped sales activities during the retail holidays.
Black Friday in Eastern Europe
Despite being a relatively new concept, Black Friday’s maniac shopping frenzy is at its best in Eastern Europe’s markets. Official figures show that the Eastern Europeans are inclined to do their online and offline shopping during the Black Friday.
Since 2013, Russians have embraced the concept of Black Friday and went crazy about it. Last year, Russian online shoppers spent around $350 million on Black Friday, up 30% from the previous year, according to Artem Sokolov, the head of Russia’s internet retail association. Although Russia does not celebrate thanksgiving, Black Friday sales and discounts are always there.
Similarly, Poland is a perfect place to spend money over the Black Friday. Data by international e-commerce platform Picodi showed that 95% of Polish consumers know what Black Friday is and 60% of them have plans to purchase online on this day.
In Hungary, the continuous outbreak of COVID-19 does not seem to cause any harm to the Black Friday vibes. A research by Reacty Digital and LogiNet found out that 100% of Hungarians are aware of what Black Friday is and over half the population are interested in online shopping during that day in 2020. This marked a sharp increase in the popularity of Black Friday among Hungarians, compared to 2019.
How to seize the opportunity?
Just because people spend more on Black Fridays does not mean that it is easy to generate revenues on that day. That is highly attributed to the stiff competition between all brands as well as the selective instincts of the consumers. This means you have got some work to do. After a thorough look into the world’s best practices, EuroLingo lists four golden tips to stand out from the crowd and have your products or services distinguished in Eastern Europe and elsewhere.
- Kick off your promotional activities early
Launch your advertising campaigns as early as you can so people can easily recognize and remember you amid the Black Friday market clutter. Promote your Black Friday deals and special offers well in advance so they get stuck in the back of your target audience’s heads.
- Work at both physical and online levels
Despite the increasing popularity of online shopping, some people still prefer to shop in physical stores and outlets. Post your offerings both online and offline and make sure you capture the attention of every prospective buyer, you don’t want to miss any opportunity, especially on Black Friday.
- Offer really tempting deals
Put yourself in the shoes of your customers and cater your offerings to their needs. On Black Friday, consumers are very selective and they only consider the real worthy deals. Use creative ways of advertising and craft your special offers and big discounts in a way that captivates your target audience’s interest.
- Target an international audience
Why stand confined by your country’s physical borders while you can expand your network and sell to a global audience at a click of a button?! In today’s digital era, all you need to do is localize your brand message and offerings to be eligible to compete on an international level. Once you partner with a professional localization agency, you get to unlock an array of lucrative opportunities across untapped foreign markets.
EuroLingo could be of help!
We have been working in the Eastern European markets since 2004 and our experts are well-versed in the subtle social and cultural nuances of this region. We don’t just translate languages, we bridge every communication gap and help our clients break into a world of endless opportunities. If you are targeting an Eastern European audience and looking for a reliable and proficient partner, look no further. EuroLingo will help you achieve your business objectives and act as a link between your very specific needs and your target market requirements.
We pride ourselves on providing world-class translation and localization solutions in every Eastern European language at the highest quality and most competitive prices. Contact us today and request your free quotation!