Considering Black Friday Sales Statistics: Black Friday, November 24, 2017, the day after Thanksgiving is traditionally the busiest shopping day of the year because it kicks off the holiday season. This season is crucial for the economy because around 30 percent of annual retail sales occur between Black Friday and Christmas. For some retailers, such as jewelers, it’s even higher — almost 40 percent.
Mobile shopping is expected to rule 2017 – The one sector that is expected to completely blow away its 2016 numbers is the growing mobile e-commerce sector. Mobile spending has been steadily on the rise for the last few years, and this 2017 is expected to be the first year that mobile sales will be bigger and greater than desktop sales revenue. On Black Friday of 2016, a total of $1.2 billion was spent from mobile alone. That number is expected to jump to approximately $1.4 billion in 2017.
Black Friday to Cyber Monday 2017 is expected to be the biggest shopping weekend in the all-time history of the Internet. Here are the key takeaways that can help your business tailor its in-store and eCommerce strategy: With incredible deals and huge savings, more shoppers are expected to stay home and shop online.
Mobile shopping is expected to take over as the primary means of shopping online and the deals in 2017 are expected to be even bigger and better than those of years past. 2017 is predicted to be yet another record-breaking year for the American e-commerce industry over the weekend, one that has become synonymous with a shopping deal-craze in our society and culture.
Thanksgiving Day sales are expected to rise from $771 million to $850 million on mobile and Cyber Monday sales are expected to surpass $1.24 billion, up from $1.07 billion a year ago. Mobile usage is growing and so are the spending habits of the masses, as they turn more and more to their mobile phones and tablets to do their holiday shopping and hunting for the best deals available online.
The top online stores for 2017 are predicted to be Walmart, Amazon, and Target. In 2016, Amazon led the pack with 7.95 million visitors and now more of the same is expected in 2017. Walmart had the second highest visitor numbers online in 2016, with 4.15 million visitors. BestBuy, with nearly 3.75 million visitors, finished third. Target, which finished fourth, is expected to rise up in position and increase their eCommerce visitors significantly this 2017, from the 2.85 million they had in 2016. Additionally, in 2016, Amazon offered over 35 days of Black Friday priced shopping and is expected to stretch out their Thanksgiving shopping campaigns similarly in 2017.
Amid all the sales activity, it is interesting consider how much a brand really worth?? A brand can often be seen as something intangible and it’s difficult for people to understand the value that brand brings into a company. It’s important when sitting down to create a brand valuation to determine what your brand includes. It includes trademarks, logos, packaging, marketing strategy, digital assets, brand colors, etc.
It’s really anything that consumers associate with your brand image. It’s the whole package that makes sales possible in a crazy retail world.
Strong brands carry a great deal of value. The top five world’s most valuable brands recognized by Forbes magazine are (a) Apple – $104.3 billion; (b) Microsoft – $56.7 billion; (c) Coca-Cola $54.9 billion; (d) IBM $50.7 billion; and (e) Google $47.3 billion. Brands help identify and differentiate goods and services from the competition. So, in light of Black Friday and Cyber Monday sales statistics, consider how much these brands contribute the companies’ revenues.
There are various ways to approach the valuation of a brand and many of them are debatable. The concept of value can often be a difficult concept to understand. This is often because value means different things to different people and so it’s not an objective concept, and the valuation is determined by the use of it.
Popular valuation methods and approaches include: (a) Cost Based Brand Valuation: The brand is valued using the sum of individual costs or values of brand assets and liabilities. It’s the accumulation of the costs that have been incurred to build the brand since inception. Items you would include when evaluating costs include historical advertising, promotion expenditures, the cost of campaign creation, licensing and registration costs. A market-based brand valuation uses one or more valuation methods by comparing similar brands which have been sold. Using comparable market transactions like the specific sale of a brand, comparable company transactions, and/or stock market quotations, the market-based brand valuation is what a brand can be sold for.
The income approach brand valuation is often referred to as the “in-use” approach. It considers the valuation of future net earnings that directly attribute to the brand to determine the value of the brand in its current use. The brand value using this method is equal to present value of income, cash flows, or cost savings actually or hypothetically due to the asset. Brand equity is one of the few assets in the business that can provide a sustainable competitive advantage. As you can see there are many methods that can be used, which means it’s not difficult to manipulate the results of measuring one’s brand equity.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
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