Their popularity has spread like wildfire throughout the globe due to the boost in sales for businesses, especially e-commerce. Many countries have adopted these celebrations as one of their own, however, not all celebrate these occasions in the same manner.
There are 3 countries whose versions of Black Friday, whilst differing from the original format, are also very important global markets. If you are planning to launch promotions for products and/or services in either Spain, Mexico or China, it is worthwhile bearing in mind how each one differs.
Black week has been around since 2012. Coming to the party somewhat late in comparison to other countries, in the first years it didn’t draw much attention, but during the last 4 years, its rise in popularity has been so rapid that it has become an event in its own right known as the Black Week or even the Black Month at times.
Many shops and/or brands in Spain who hope to maximise on the value of the occasion have made this celebration an extended version of the original Black Friday, which normally lasts a maximum of 4 days, Friday to Monday (coinciding with Cyber Monday) it now typically starts the week before and at times it has gone on into the following week.
Buen fin or good weekend began in 2011, as its name suggests, it’s just a weekend which tempts the consumer with deep discounts of up to 70%. Even banks have joined in this celebration by offering interest-free loans for a few months.
It is normally held on the same days as the original Black Friday, from Friday to Monday. But this year’s Buen Fin is from November 16th to November 19th coinciding with a public holiday which celebrates the date of the Mexican Revolution.
One of the additional aims behind Buen Fin is to revive and strengthen the internal market, especially in areas recently affected by earthquakes or other catastrophes.
It is somewhat different from the rest since it’s not based on Black Friday, but its ultimate goal remains the same. It all began in 1993 at the University of Nanjing, as a day when students could celebrate their singledom with a party and karaoke. November 11th was chosen because of its “1111” solitary numerical values.
When the CEO of Alibaba decided to turn this student tradition into an ‘anti-Valentine’s Day’ targeting younger consumers it became an overnight success, more and more companies have joined in the event and now Single’s Day is capable of raising billions of dollars in the space of 24 hours.
Black Friday is particularly relevant to online products or services especially technology, fashion, music and books… but increasingly, other sectors such as travel are now reaping the benefits.