Beyond the Discounts: Uncovering the Origins of BFCM

Black Friday, Cyber Monday Mayhem…here we go again!

These two consecutive shopping events have become synonymous with incredible deals, frenzied crowds, and the kick-off to the holiday shopping season. While you frantically click refresh to get that huge deal or engage in the inevitable shopping cart aisle rage, have you ever sat back and wondered how it got to all of this?

Buckle up, as we unravel the story behind the doorbusters, discounts, and digital delights that make Black Friday and Cyber Monday a shopping experience like no other.

Black Friday is typically associated with in-store shopping experiences. The term originated in the United States and has historical roots that go back to the early to mid-20th century. The phrase was initially thought to be associated with a financial crisis rather than a shopping event. That's the boring story.....

However, the more widely accepted (and much more entertaining) origin story dates back to the 1960s when the term "Black Friday" was used by police in Philadelphia to describe the chaotic and congested day that followed the Thanksgiving holiday.

The story goes, that the day after Thanksgiving, hordes of shoppers and tourists flooded the city for the annual Army-Navy football game and the traditional start of the Christmas shopping season. The surge in both vehicle and pedestrian traffic led to dramatic scenes with traffic jams and crowded sidewalks, prompting law enforcement to use the term "Black Friday" to describe the mayhem.

Over time, the negative connotation of "Black Friday" shifted, and retailers began to associate the term with the point at which retailers started turning a profit or being "in the black" for the year, due to the increased holiday sales. By the 1980s and 1990s, Black Friday had become firmly established as the unofficial start of the holiday shopping season in the United States.

While Black Friday originated in the United States, it has gained popularity and spread to various parts of the world including the UK, Canada, France, Germany, Japan, India, and Brazil.

In Australia, Black Friday is a relatively new concept that retailers and shoppers alike have most certainly embraced, with Black Friday sale campaigns becoming week and even month-long shopping spectacles.

This brings us to "Cyber Monday"

In the not-so-distant past, the term "Cyber Monday" may have sounded like a futuristic concept, conjuring images of virtual landscapes and digital storefronts. Fast forward to today, and Cyber Monday has become a household term, synonymous with online shopping extravaganzas and unbeatable deals. At the heart of this evolution lies the remarkable rise of e-commerce, a transformative digital force that has reshaped the retail landscape and catapulted Cyber Monday into the digital realm.

In the early 2000s, Cyber Monday emerged as a response to the growing trend of online shopping, particularly in the U.S. It was noted that the Monday following the Thanksgiving holiday, many office workers across the U.S. would take to their computers (during work hours mind you!) to browse the internet for a pre-Christmas deal!

As consumers (not just office workers) took up this trend, retailers saw an opportunity to extend the Black Friday frenzy into the digital space. This marked the birth of Cyber Monday - a day dedicated to online discounts and digital deals.

The Rise of a Digital Era

The rise of e-commerce wasn't a mere coincidence but a seismic shift in consumer behaviour. This was especially evident during the global Pandemic in 2020-22.

The convenience of shopping from the comfort of one's home whilst quarantining, the vast array of product choices, and the ability to compare prices with a few clicks, contributed to the exponential growth of online retail. E-commerce platforms sprouted like digital marketplaces, providing a virtual stage for retailers to showcase their products.

With e-commerce firmly establishing its presence, Cyber Monday has found its natural home in the digital landscape. Retailers continue to unveil exclusive online promotions and discounts, catering to the growing audience of digital-savvy shoppers. The virtual shopping cart is replacing the traditional one, and Cyber Monday continues to transcend the boundaries of brick-and-mortar stores, thus making the BFCM shopping event arguably the biggest online/in-store shopping event globally.

With the NAB reporting an estimated $AU7.1 billion (yes Billion!) spent by consumers over the 4-day BFCM shopping period in 2022, and sales increasing year on year, one can only begin to imagine how big this year will be, and beyond that? The mind boggles.

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