When do consumers buzz about Black Friday/Cyber Monday?
Perhaps not surprisingly, overall buzz for each shopping event peaks on the day of the sales, although the majority of buzz occurs in the days of November leading up to the events. There was more total buzz about the holiday sales in 2010 compared to 2009, reflecting the growing amount of buzz overall posted on blogs, message boards/groups, news sites, as well as Twitter and Facebook.

The share of daily buzz mentioning these sales was also higher in 2010: discussion of Black Friday peaked at 2.5 percent of daily buzz in 2010 compared to 1.9 percent of buzz during Black Friday 2009, a relative increase of 25 percent in the share of total buzz.  In comparison, buzz about the Women’s World Cup represented a 1.1 percent share of total buzz, illustrating the significant level of discussion about Black Friday represents. Buzz about Cyber Monday 2010 grew the most, increasing their relative share of buzz by 75 percent compared to 2009.

Black Friday vs. Cyber Monday
Looking more closely at buzz between the two shopping holidays, an overwhelming majority of buzz was about Black Friday, which made up more than four out of five messages about the events in 2009. Black Friday buzz made up 79 percent of buzz about these topics in 2010, while Cyber Monday buzz represented only 21 percent of discussion. However in 2010 the share of buzz about Cyber Monday more than doubled compared to 2009, led in part by the increase in discussion about Cyber Week sales in addition to growing interest in the online shopping events.

Where do consumers talk about Black Friday/Cyber Monday?
As consumers try to share news about the latest sales, the majority of buzz about Black Friday and Cyber Monday comes from Twitter, where public posts made up 63 percent of buzz about these events.  The majority of tweets are published on the day of the events themselves. Message Boards and Groups were also a popular venue for savvy shoppers to compare sales, representing 22 percent of online discussion about the shopping events.

Marketers trying to reach holiday shoppers ahead of time might also consider reaching out to bloggers; 2.1 percent of all blog posts in the week leading up mentioned Black Friday. Blogs were twice as likely to discus Black Friday/Cyber Monday compared to buzz from other sources. Posts on news sites also helped drive discussion, with 1.6 percent of posts on news sites mentioning Black Friday during the week of the shopping event.

During the last weeks of October and early weeks of November, the number of unique visitors to the top Web sites offering previews of Black Friday sales, such as bfads.net, has quickly been increasing. Week-over-week, traffic to these sites has increased 87 percent, from 3.8 million unique visitors during the week ending Nov. 8 to 7.0 million during the week ending Nov. 15.

“As we saw in our recent online holiday survey, consumers plan on bargain hunting more extensively this year in order to save money and many view the Internet as the place to do this,” said Maya Swedowsky, associate research director, Nielsen’s online division. “Multi-channel retailers can leverage these Black Friday Web sites to draw consumers into their brick-and-mortar stores on the big day.”

Among the top Web sites dedicated to Black Friday deals and previews, TGI BlackFriday was the fastest growing in terms of unique visitors, increasing 154 percent week-over-week during the week ending Nov. 15. BlackFriday.fm and BlackFridayAds.com were the No. 2 and No. 3 fastest growing, increasing 125 and 114 percent, respectively.

Consumers are also spending more time on these sites, scoping out the best deals on the perfect gift. Total minutes spent on the top deal sites increased 763 percent over the last four weeks, from 6.3 million minutes during the week ending Oct. 25 to 54.6 million minutes in the week ending Nov. 15.

In addition to searching for Black Friday deals online, shoppers are actively discussing the deals they plan to take advantage of, both in-person and online. Amazon’s Black Friday deals were the most buzzed about during the last 30 days, with Wal-mart and Best Buy coming in at No. 2 and No. 3.

“Shoppers aren’t the only ones generating buzz about Black Friday deals. Retailers are taking advantage of social media and using it as a channel to share sneak previews of deals and to get shoppers excited,” commented Swedowsky.

These early marketing activities have led to a boost in buzz for some retailers. Staples, one of the first retailers to announce details about its holiday deals on Facebook and Twitter, ranked 9th among the most buzzed about Black Friday shopping destinations.

With Black Friday and Cyber Monday just around the corner, we expect to see an increasing number of retailers using the Internet and Social Media to drive in-store and Internet sales.

Mistake #1: Sticking to traditional categories
Who says supermarkets can’t sell video games or that electronics stores can’t sell soda and snacks? Many smart retailers are breaking free of traditional channel definitions that may limit the merchandise categories where they compete. If you have a cash register, you can sell it.

Mistake #2: Not having a retailing objective
Determine your Black Friday retailing objective(s) in advance. Do your door-buster ads attract new shoppers? Do they generate profits? Do they drive traffic for purchases of non-deal items?

Mistake #3: Not measuring your objectives
If you have measurable objectives, you need to measure them. Was Black Friday profitable for your stores? Did you attract new shoppers who return to shop in the following weeks? Did heavy traffic drive sales of non-deal items?

Mistake #4: Leaving a bad first impression with new shoppers
Black Friday is a great opportunity to attract new shoppers or win back infrequent shoppers. Don’t let them have a bad shopping experience. For shoppers new to your stores, many will say either “I should shop here more often” or “I’m never coming here again”. Make sure their experience is positive.

Mistake #5: Missing loyalty opportunities
Black Friday presents unique opportunities for retailers with loyalty programs. Rather than just rewarding shoppers willing to camp out overnight, why not offer special pricing to your most loyal customers over the year? Or maybe offering the hottest deals to shoppers spending over $100 on groceries? Or $500 in spending for November?

Mistake #6: Sticking to Friday morning
What’s so magical about Friday morning? Rather than focusing on a few precious hours, many retailers now offer door-busters on multiple days. Some retailers choose the morning of Thanksgiving Day while others offer door-busters two weeks before Thanksgiving.

Mistake #7: Not having door-buster merchandise in stock
When a long line of customers is waiting in the cold and dark for your doors to open, you’d better deliver on the promises of your Black Friday ad and web site. If stock is limited for hot door-busters, let shoppers know in advance, or at least while they’re waiting in line. Don’t let them wait in line for products you don’t have.

Mistake #8: No sense of urgency
Shoppers are in a hurry and appreciate retailers who can keep the lines moving quickly. Under-staffed checkouts, associates unfamiliar with ad merchandise, inadequate traffic direction, and late store openings will all lead to angry shoppers. Retailers need all hands on deck.

Mistake #9: Shallow discounts on door-busters
Black Friday is the one day that shoppers will be bombarded with rock-bottom pricing. Shoppers will not be impressed by so-called “door-busters” listed at everyday pricing or modest discounts by any manufacturer willing to buy space in your Black Friday ad. If your ad includes modest discounts, don’t call them “door-busters”.

Mistake #10: Not scouting the competition
It’s more than just monitoring ad prices. Seasoned shoppers will tell you: some retailers are much better at Black Friday than others. Retailers need to have scouts in the field checking out the competition for best practices and talking to shoppers about their experiences. Use these observations to plan for next year starting this December.