Golden Quarter Nuggets #6: Black Friday- why you should participate on your own terms

Love it or hate it, participate fully or swerve the discounts, the one thing you can’t do is ignore that Black Friday is upon us. Let’s take a look at both sides of the Black Friday divide.

For those retailers big and small that do participate, their deals seem to start earlier every year, with offers flooding inboxes from the beginning of November, trying to tempt shoppers with every marketing tactic available; in other words, these brands are all-in, and will prove that with a hefty marketing budget advertising flash sales and discounts. Inevitably, these brands will attract customers and increase their sales.

Then there are businesses that don’t participate, (for example The Ordinary, Next, Zara, and Marks and Spencer to name a few) actively encouraging their customers to forego overconsumption and consider what they really need. Whilst they may not be participating in the sales frenzy, these businesses have not checked-out of Black Friday- they have used the event’s premise and turned it around to suit their own marketing agenda, which may involve promoting sustainability or more considered spending. Again, this is a smart move that garners attention from current and potential customers.

Whether a business falls in to the first or second category, they have one thing in common: they know their customers, and that’s what a successful Black Friday is about.

Will your customer be excited to buy at a discount? Do they wait all year for loyalty offers, flat discounts and flash sales on items they love?

Or do they dislike consumerism, and prefer to shop mindfully from a business that gives back in some way?

The takeaway here is to know your customer, and how they want to shop. Monitor their behaviour online and in-store, ask for their feedback and use that data to curate a shopping experience that allows you to stand out but also stay true to your brand ethos, because what you really want is attention for the right reasons.

Remember, if you can do this and get creative, you can participate in Black Friday on your own terms because you will be using this key moment in the trading calendar as part of your wider marketing strategy, and leveraging the vast number of shoppers actively searching for your products to increase brand awareness and loyalty, the two most valuable elements of running a successful retail business.