ach year, as the United States undergoes the traditional Thanksgiving to
Christmas holiday season, businesses across the country
hope for strong sales. The term "Black Friday" resulted from
the realization that the Friday following Thanksgiving was
the day many retailers moved from the "red" (loss) to the
"black" (profit).
Black Friday has evolved over the years. From the traditional rush to shop, retailers began seizing the opportunity
by offering special discounts on limited amounts of merchandise, opening stores in the early morning. Bargain hunters lined up in the middle of the night, and patrons regularly
fight over the last item on a sales rack. In 2011, some stores
actually opened at midnight on Thanksgiving evening, trying to optimize sales.
According to an eCommerce Tracker Survey, some 96 percent of all Hong Kong residents browsed online for a variety of products and services over the course of 2012. The survey also found that 84 percent made an online transaction and that 87 percent would do so in the following year. The most popular online products were electronics and cosmetics.
Although Black Friday can be considered as a uniquely American phenomenon, businesses such as the credit card company Visa have been quick to note the potential for business by making it easier for Hong Kong online shoppers to take advantage of U.S. Black Friday sales. Visa's partnership with cornGateway made it possible for U.S. retailers to accept non-U.S. credit cards and, for many that had not done it before, to ship to Hong Kong. In this way Hong Kong residents could take advantage of discounts of up to 80 percent.Hong Kong residents are not alone in wanting the big global brand names—comGateway also provided Chinese language support.
ach year, as the United States undergoes the traditional Thanksgiving to
Christmas holiday season, businesses across the country
hope for strong sales. The term "Black Friday" resulted from
the realization that the Friday following Thanksgiving was
the day many retailers moved from the "red" (loss) to the
"black" (profit).
Black Friday has evolved over the years. From the traditional rush to shop, retailers began seizing the opportunity
by offering special discounts on limited amounts of merchandise, opening stores in the early morning. Bargain hunters lined up in the middle of the night, and patrons regularly
fight over the last item on a sales rack. In 2011, some stores
actually opened at midnight on Thanksgiving evening, trying to optimize sales.
According to an eCommerce Tracker Survey, some 96 percent of all Hong Kong residents browsed online for a variety of products and services over the course of 2012. The survey also found that 84 percent made an online transaction and that 87 percent would do so in the following year. The most popular online products were electronics and cosmetics.
Although Black Friday can be considered as a uniquely American phenomenon, businesses such as the credit card company Visa have been quick to note the potential for business by making it easier for Hong Kong online shoppers to take advantage of U.S. Black Friday sales. Visa's partnership with cornGateway made it possible for U.S. retailers to accept non-U.S. credit cards and, for many that had not done it before, to ship to Hong Kong. In this way Hong Kong residents could take advantage of discounts of up to 80 percent.Hong Kong residents are not alone in wanting the big global brand names—comGateway also provided Chinese language support.
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