Let’s Talk About Black Friday

With Black Friday well and truly upon us, it’s the perfect time to reflect on the pros and cons of this retail phenomenon. Whether you’re all in or still weighing your options, now’s the moment to assess your strategy and plan for the year ahead.

Black Friday Pros

• Most retail and ecommerce businesses see a dramatic lift in sales.

• Opportunity to build trust and engagement with customers through a targeted marketing campaign.

• Clear stagnant and surplus stock before the busy Christmas period and new year.

• Capture share of wallet during peak retail sale period.

• If you don’t normally offer sales, this is a good one to put your hand in the ring for. However, see cons below...

Black Friday Cons

• Once you’re on the BF train, you’ll likely have to stay on it. Critical to take this into account for like for like (L4L) sales, web traffic and growth in subsequent years.

• Logistics nightmare which may lead to poor customer experience.

• Customers will seek out the best price. Make sure yours is competitive, but don’t compromise your profit.

• Be careful not to train your customers to expect certain discounts for future sales.

Black Friday Strategies

• Incentivise your store and head office teams during this busy period. Make the chaos worth their while and enthusiasm.

• Beware of the hype. Stay true to your brand. Make sure what you offer aligns with who you are. Clearly communicate what to expect and when.

• Make sure your website is fast, mobile-friendly, and easy to navigate. A seamless shopping experience is key to capturing those impulse buys.

• Consider pre & post Black Friday engagement and promotions. Be strategic and plan carefully. You need to be well prepared for October to December to minimise the dance between the peaks and the lulls.

We’d love to hear your thoughts. What’s been your experience with Black Friday so far? Follow us on Instagram @booststudioandco or LinkedIn to join the conversation.