For decades, Black Friday stood as the pinnacle of the holiday shopping season with throngs of consumers descending upon stores in search of unparalleled bargains. Yet, in a stark departure from tradition, this hallmark event is morphing with discounts as early as October – a shift propelled by market competition, evolving consumer predilections, logistical considerations and strategic corporate manoeuvres – all converging with the singular aim of maximising revenue amidst the flux of market conditions.
From its inception, Black Friday, along with the advent of Cyber Monday, encapsulated the essence of a cultural juggernaut, hinting at an expansion well beyond a mere 24-hour bargain blitz.
Yet, with discount-themed promotions encroaching ever closer to Halloween than Christmas, we must ponder the ramifications for retail brands within the Golden Quarter. Previously unreleased data from Retail Insights (2022) suggests that the traditional surge in footfall on Black Friday has diminished by 35% over the past five years, underscoring a profound shift in consumer engagement.
Brands are now recalibrating, spreading their discount periods to maintain a competitive edge. The encroachment of early offers has redefined Black Friday, no longer a singular day of sales but rather a cyclical month-long event. Retailers are compelled to devise incremental discount strategies throughout November, a necessary ploy to outpace rivals.
Consider that early access deals, while generating initial interest, often spotlight less compelling offers, inadvertently setting the stage for grander promotions later in the season. This elongated sales cycle, strategically punctuated with discounts extending well into the festive period, enables consumers to budget for premier shopping days, ultimately heightening engagement and purchase potential.
Hence the emergence of a new retail heavyweight, Super Saturday—the final Saturday before Christmas. Last year, Super Saturday’s sales outstripped Black Friday’s by an impressive 10%, amassing £1.2 billion in sales compared to Black Friday’s £1 billion, according to a report by ComScore (2022).
This trend affords retailers a prime opportunity to sustain their campaign’s most attractive offers until the eve of Christmas, leveraging the full breadth of the season to bolster sales.
Prioritise the Customer Experience: In a landscape where loyalty is hard-won, ensuring a frictionless shopping experience across all platforms—online, in-store, or post-purchase—is paramount. Training staff to manage the swell of queries during peak times is not just advisable; it’s essential.
Seamless integration: The modern consumer doesn’t distinguish between online and offline—your brand shouldn’t either. ‘Buy online, pick up in-store’ and ‘click and collect’ services not only convene online shoppers into physical stores but also alleviate logistical strain. Moreover, leveraging social media and social commerce platforms to promote deals can resonate with customers in a medium that works best for them.
Strategically-themed events: Host exclusive in-store events in the early season to whet the appetites of your customers. A sneak preview of Black Friday deals can spark enthusiasm and cultivate a sense of anticipation and exclusivity.
Craft urgency and scarcity: Exclusive deals or limited-edition products tethered to Black Friday and Super Saturday can accelerate sales. Countdowns, time-sensitive offers and notifications of limited stock are potent tools in driving urgency.
Add value beyond discounts: Differentiation through additional value—be it loyalty points, extended warranties, complimentary gifts or inclusive shipping—can distinguish a brand. Consider offering services such as gift wrapping or customised products to attract the holiday shopper.
Incentivise with loyalty programmes: Enhancing loyalty schemes to provide early access or additional discounts can encourage early purchases and foster repeat business.
Targeted marketing: Harness email, social media and digital advertising for precision marketing. Personalised communications that reflect individual shopping preferences can significantly increase campaign efficacy.
Elevate your online presence: Outshine competitors by curating compelling online experiences. For Super Saturday, orchestrate dynamic e-campaigns that mark it as an essential e-shopping event.
Interactive technology: Deploy solutions like augmented reality (AR) to engage consumers with innovative experiences that captivate them throughout the season.
Community and sustainability: Differentiate your brand by initiating community events and promoting sustainable purchases. Offer eco-friendly products, sustainable packaging or support social causes.
Transparency over stock: Offer your customers real-time updates on stock levels and transparent delivery schedules. This approach not only enhances customer satisfaction but also cements loyalty, creating a perception of reliability and responsiveness.
Data analytics and insight: Harness the power of data analytics to delve into the psyche of your customer base, understanding their behaviours and preferences. This valuable insight allows you to craft offers that resonate, to personalise marketing messages, and to ensure that your inventory reflects your customers’ desires. It’s about making data work not just for you, but for your customers, by aligning your stock with their most sought-after products.
Follow-up engagement: We all know the customer journey doesn’t end with the sale. Post-purchase follow-up is an art that, when executed with care, can turn seasonal shoppers into perennial patrons. Reach out to your Black Friday and Super Saturday customers with thank-you emails, invite feedback, and tease upcoming deals. It’s these nuances of continued engagement that can develop a community of loyal customers.
As we gaze upon the ever-evolving landscape at the mid-point of the golden quarter, it’s evident that Black Friday and Super Saturday have transcended their roles as mere dates on the retail calendar. They’ve become pivotal in dictating the tempo of the shopping season with Super Saturday now shining as a beacon for last-minute shoppers and deal-seekers.
In this dynamic retail environment, it’s incumbent upon brands to pivot with agility and strategic foresight. The successful retailer will be the one that offers an amalgamation of experiences and values that resonate with the consumer beyond the discount tag. It’s about creating a seamless journey that spans the digital divide, building loyalty with service that goes beyond expectation, and embracing technology and data analytics to personalise every interaction.
As we look to the future, we have an opportunity to craft retail narratives that inspire, connect and deliver not just during the festive season but across all quarters. The question remains. “Are these strategies embedded in your Black Friday plans? And, more importantly, are you ready to evolve with the changing tides of retail in an era of economic instability and rapid global change?”