You’ve probably heard of Black Friday by now but have you wondered where it got its name?
Well, it’s all to do with the economics of running a retail store – which is an expensive business. It may surprise you to learn that from January through November, all the money customers hand over goes to cover stock, rates, rent, wages, marketing and the dozens of other costs involved in keeping the shop door open. There is little or no profit.
Black Friday, the last Friday in November, is traditionally the day retail stores flip over from being in the red to being in the black. It’s all money in the bank from then to 1 January, baby!
Black Friday sales began in the US as a way to drive consumers through the door to kick off this all-important retail period. Lead by retailers like Amazon (who do so much business on this day in the US they started holding Black Friday sales in the UK too), the practice has now spread to Irish retailers as well.
An estimated 60% of Irish retailers will hold key sales events between 28 November and 1 December. Irish shoppers will spend an average of €320,000 per hour grabbing bargains!
Cyber Monday is an effort by online retailers to drive the kind of sales and “online footfall” bricks-and-mortar retailers leverage this weekend. Online retailers commonly hold sales on the Monday following Black Friday, although as you can see from our offers, many of them get in early and start their promotions on Friday!
Black Friday and Cyber Monday reductions are often deep but they don’t last long – usually just 24 hours – so you need to be organised and know what you want to grab the best bargains. For those who do their research and shop wisely big savings are possible, with many discounts of 50% or even more on big ticket items.
To make it easier for you we’ve tracked down and listed many of the best Black Friday sales in Ireland, both online and in stores, with links to the offers available. Go get ’em!