Traditional Black Friday takes place the day after Thanksgiving, the biggest shopping day of the year and the most recognized branding for shoppers. Retailers are attempting to use that recognition to drive sales this spring with “Spring Black Friday” events.
Home Depot stores started its “Spring Black Friday” with a cyber week of deals at HomeDepot.com. Trying to make an online event stick is important to Home Depot because it is becoming more reliant on its web site sales for growth. The chain did not open any new stores in the US last year, but e-commerce sales grew 37% to $3.8 billion, accounting for 5% of total revenue.
Home Depot competitor Lowe’s is holding its Spring Black Friday event for the third straight year. Retailers outside of home improvement are also trying to make Spring Black Friday a tradition. Bon-Ton Stores has held one every year since 2012 and had its most recent one two weeks ago.
Source: Bloomberg Business
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