Black Friday and Cyber Monday traditionally herald the start of the Christmas shopping season in the US. Even in Europe, the “Cyber Week” around Black Friday and Cyber Monday has long been established – yet the potential is not yet lifted.
More and more European consumers want to benefit from the discounts and promotions during “Cyber Week”: According to a recent study conducted by the online advertising platform Criteo, approximately half of German online customers are planning on spending between zero and 200 euros on this year’s Black Friday. Correspondingly, 33 percent want to spend between 201 and 500 euros and 15 percent prepare to spend more than 500 euros.
In 2017, online revenue has already increased significantly: According to the international affiliate marketing network CJ Affiliate, during Cyber Week, CJ Network revenue increased by 51 percent across Europe. In addition, the number of orders grew by 32 percent in the same period, the average order value by 15 percent.
Great Britain ahead of Germany and France
Customers in the United Kingdom, Germany and France together are responsible for a large part of Europe-wide e-commerce. And even in the four-day-span between Black Friday and Cyber Monday, the online shoppers account for billions in sales. In the United Kingdom, sales in 2017 amounted to 8.71 billion euros, in Germany they grew by 18.2 percent to 1.7 billion euros and in France, the volume was just under one billion euros (910 million) – a sales increase of 35 Percent. For the current year, analysts expect double-digit growth rates as well.
Importance of Cyber Week is growing
In addition, according to a survey recently conducted by Marktplatz-KIX/ECC Köln and eBay, 38 percent of online retailers in Germany believe that they will generate the highest revenue during Cyber Week. Only 43 percent of respondents think that retailers are earning the latter in the first half of December – a minus of 11 percent compared to last year. The importance of Cyber Week is growing and it is becoming an interesting market for international traders. After all, cross-border sales are also rising.
Cross-border sales in Europe
In the United Kingdom (36 percent), France (28 percent) and Germany (25 percent), around one third of online purchases are already conducted cross-border. Although growth rates are moderate, the share of cross-border purchases in the EU is steadily rising. Slovenia topped the list last year with a cross-border growth rate of 6 percent. Luxembourg, the Netherlands, Germany and Finland followed in second place with an annual growth of 5 percent. In the UK and France, cross-border purchases are growing by three and one percent, respectively.
Housewares, fashion and electronics in demand
During Cyber Week, Europeans are particularly fond of buying kitchen and household products, toys, clothing, electronics, such as TV sets or cell phones, and the corresponding accessories. Furthermore, a growing market is is seen in the travel and food industries. In general, growth can be forecasted in all areas. During the eight-day Cyber Week, Amazon, the EU’s top-selling marketplace, saw its revenue grow by 30 percent last year.
Summary
To summarize: Increasing sales and the growing awareness among traders to get into the Christmas business earlier and provide discounts for customers, lead to a growing popularity of Black Friday and Cyber Monday in Europe. To help shape and benefit from this development, the entry into the European e-commerce market is becoming very interesting for international traders. Service providers such as Hermes International, a division of Hermes German