Crypto Is on Sale – And It’s Not All About The DropsThe Crypto market is always trying new ways to gain exposure and activate mass-market adoption. Cryptocurrency is joining the big leagues of marketing with the first ever Crypto Sunday, and now, with the crypto market in a bloodbath, the market cannot do too much in providing c
Shopping days such as Black Friday, Cyber Monday and the Chinese Single’s Day have seen a massive rise in popularity among retailers, consumers, and stakeholders interested in the intersection of technology and the economy. In 2017, researchers at Adobe Analytics reported that U.S. consumers spent a massive $19.62 billion during the special holiday sales period starting with Thanksgiving on Nov 23, Black Friday, and then Cyber Monday on Nov 27. The 2017 consumer spending was 15% ($2.6 billion) higher than the spending in the same period in 2016.
Trend spotters are convinced that the 2018 holiday sales will be significantly higher than 2017 based on inferences drawn from Alibaba’s 2018 Singles day sales. Alibaba reportedly recorded a massive $30.7 billion in sales during its annual sales festival that set the record for the biggest online shopping day of all time. This piece looks at how the idea of a Crypto Sunday will fit into the existing retail trend of Black Friday and Cyber Monday to hasten the mass-market adoption of cryptocurrencies.
Here’s why shopping holidays are popular
The first reason special shopping days have grown in the popularity over the last couple of years is that people love feeling like they are getting a good deal for their hard-earned cash. In fact, many people have revealed that they don’t mind waiting the whole year for the deals offered on Black Friday.
Secondly, business has consistently seen how activating a critical mass of shoppers could encourage people that were not planning to shop to end up spending money because it’s the ‘smart’ thing to do. The strength of numbers from millions of shoppers in turn significantly improves the bottom lines for these businesses. Hence, businesses put their competition aside collectively to promote sales and specials for these specific days, attracting even more customers.
The crypto market gets its dedicated shopping holiday
The Crypto market is always trying new ways to gain exposure and activate mass-market adoption. Cryptocurrency is joining the big leagues of marketing with the first ever Crypto Sunday, and now, with the crypto market in a bloodbath, the market cannot do too much in providing consumers with a bit of good news amidst the negativity.
Crypto Sunday is a new initiative, launched by Coinmama and open to all, which is designed to accelerate mainstream adoption of cryptocurrency. Just like those who launched Cyber Monday to showcase the increasing relevance of e-commerce, the initiators of this project believe that the crypto economy has matured to the extent that it deserves its own unique day of celebration.
Crypto Sunday falls on the Sunday between Black Friday and Cyber Monday. Specifically, Crypto Sunday will take place on the fourth Sunday of November. The first ever Crypto Sunday will happen on November 25th of 2018. To get the ball rolling, Coinmama will offer a special sale of up to 100% discount on their fees, on selected packages. Beyond the special deals that will help consumers buy more with less, Crypto Sunday could also prove valuable in encouraging more people to at the very least attempt to make a cryptocurrency transaction to find out what the fuss is all about.
The mass-market adoption of crypto is about to be activated
When Bitcoin was introduced in 2009, it was supposed to be a means of settling transactions without the expensive, time-wasting, and cumbersome meddling of traditional financial institutions. However, over the past several years, the general cryptocurrency market is still a long way off from achieving its transactional ideals. The natural human propensity to greed has turned Bitcoin and other cryptocurrencies into investments because of their speculative appeal and not for their transactional function.
By offering special deals and significant discounts for customers paying with cryptocurrency, Crypto Sunday gives anyone with net access a compelling, practical reason to get into crypto. It’s good for the industry and good for customers – not only do they get a good deal, but their monetary options are extended by learning about crypto.
For crypto to really fulfill its potential as fair global money, however, it must first go mainstream. Initiatives like Crypto Sunday are designed to achieve precisely this goal. Mainstream adoption will unlock positive change in the real world, ushering in a brighter future without middle-men, hidden fees, and fine print. Hopefully, many businesses will jump on board Crypto Sunday, this date is set to be a real crypto holiday for years to come. By next year, everyone will be waiting to buy or spend their crypto on Crypto Sunday.