Black Friday; Yes, or no?

Black Friday has always had a sordid history, as far back as the mid to late 1800’s in the US,the environmental factors alone can put many people off and yet, it continues to thrive as one of the most glorious and notorious sale seasons in the world. Drawing in an enormous amount of revenue for brands across the globe; £9.42 billion was spent over the course of the Black Friday weekend in the UK alone, of which online sales accounted for 61.49%, this sale season is an absolute behemoth.

So, the real questions here are;

When actually is Black Friday and how long does it last?

Should we even still call it Black Friday?

As a business, should we take part in Black Friday?

What should our sale strategy be?

When actually is Black Friday?

The dissatisfactory answer these days is “any time in November”. Businesses globally have creeped ever further into the month (the original day being 25th November), browse around the shops from the 1st though and you will see sales shooting up from nowhere toting that Black Friday has begun.

Based on this, any business can jump on the bandwagon whenever they like, whether it is a week out from the original day or the best part of a month! It all depends on your sale strategy.

Should we even still call it Black Friday?

This is a multi-sided problem; from an ethical standpoint and a business standpoint.

Ethically, this particular holiday sale is dicey at best - with negative connotations of looting violence combined with the distasteful use of the term ‘black’ in conjunction with this, it’s a surprise anyone can say it without wincing. There have been many calls from brands, MPs and more actively opposing it or officially trying to change the name, not to mention many brands now rebranding the sale into their own style to escape.

For a business, Black Friday has to be considered carefully; the key considerations being visibility. Black Friday is so heavily ingrained in the global zeitgeist that your average consumer will be hardwired to search for terms relating to the name of the event, which can be a stumbling block if you are setting out to step away from the norm. Don’t worry though, there are ways to help get around this, with the right strategy.

As a business, should we take part in Black Friday?

This question can spark lively debate amongst businesses. With so many considerations, your product, price point, market, country and many more factors come into play here, how are you supposed to figure it out? There is only one factor you need to turn to that will be the deciding factor, your audience. A number of high end designer brands have turned away from this sale season altogether due to their social responsibility and brand image, while others have taken matters into their own hands, creating a sale seasons of their own, such as Next - who could beat you at your own sale?

If your audience are heavily influenced by environmental factors and/or your products are orientated around sustainability, participating in Black Friday could be detrimental to you in the long run, while consumers who are influenced purely by pricing will jump at the chance for a sale. Food for thought.

What should our sale strategy be?

Black Friday may seem overwhelming when considering a strategy to tackle it, but don’t stress. Remember, you can always flip tactics if you find it doesn’t resonate with your audience, that’s the key. Every audience responds differently, so be prepared for some trial and error in the early days, saying this, we aren’t here to leave you floating in uncertainty. Here are your main considerations and styles of sale that can blow your targets out the water:

• Consistency is key - you want to keep your followers in the loop as much as possible and this includes setting expectations. We have found in the past that escalating discounts can cause a lull in sales as customers hold their breath for the juiciest discounts at the end. Instead, consider setting great offers that will keep people coming back.

• Don’t jump the gun - we have all been there, hungry for the big money days, but dropping your best discounts early on can lead to the grind of flat sales.

• Longevity - There is no right answer here, whether you are going for short and sharp or in it for the long haul, consider how this could affect your customers - short and sharp can create great revenue but if your customers aren’t aware then it could mean missed sales.

• Slow day? No problem. - consider flash sales, prize draws and competitions as your kindling to keep your sale firing!

Our final word on the matter, no matter which way you decide to run your offers, is that communication is the single most important factor. As long as you build awareness in advance of your offers, you can steer the relationship your consumers have with you; email them, text them, go out and stand on a soap box in the town square or use a charming marketing agency *ahem*, just make sure you get the word out there.