Everyone knows Black Friday as the day of the year on which shops sell their products on sale. It is seen as the unofficial start of the holiday shopping season. People can buy some new outfit for the winter, the latest hi-tech device, decorations for their home or Christmas presents at a reasonable price.
The first Black Friday dates back to 1924 when Macy's, the American store chain, started to celebrate the beginning of the Christmas period in New York, on the day after Thanksgiving, but it became more famous in the 1980s. In the beginning, to ensure more sales, stores began to lower prices, trying to attract their customers with special offers.It became so competitive that shops started to open at midnight and to make discounts also days before. After Black Friday, they began to call it "Black Weekend", today they call it "Black Week" even if discounts started ten days before. Cyber Monday has also been created (Monday after Black Friday), dedicated to offers concerning technology and online shopping.
In the last few years, online purchases have grown so much; they became the real driving force of this event. Competition for companies is getting harder, and they all have begun to sell online, to create eCommerce platforms that are increasingly attractive and intuitive for the customer, to offer services such as free shipping and fast delivery. According to statistics, eCommerce retailers report a huge increase in revenue every year. In the future, there will be more and more online purchases at the expense of offline purchases. Especially this year has further changed the habits of customers, leading them to buy any product online; therefore, companies need more than ever effective marketing campaigns and websites. This is why more and more companies are turning to e-commerce platforms and software that help them communicate their product information effectively.
In conclusion, Black Friday is a happy day for consumers looking for convenient deals, but also for companies because they have the opportunity to increase their annual revenue or make their brand known. Yet it can be a challenging period because they must be prepared to face it with a fair and prompt online store and high-quality product information, able to compete and satisfy the masses of online buyers.
Cycleon, the internationally renowned reseller, has decided to aqcuire our Katana PIM system to store its product information.
In this era of omnichannel e-commerce, online stores face interesting challenges. Due to an increased demand from customers for online shopping, evidenced by growing online marketplaces and D2C (Direct To Consumer) shops, the demand for Product Information Management-systems has been growing.
We are delighted and proud to announce our new partnership with payment service provider Mollie.