It’s that time of year– searching frantically for those rock-bottom prices, spending money we simply don’t have and watching the instore fights over that last flat screen TV.
Are you guilty when it comes to your marketing strategy of just waiting for all major time hooks and ignoring everything in between? Was Black Friday included in your strategy this year? If not then here is why you should mark it on your calendar for 2018…
Black Friday is marked as the biggest shopping day of the year, as it marks the first Friday after Thanksgiving and the launch of Christmas shopping.
Despite Black Friday being primarily an American festival, UK retailers have jumped at the opportunity to mass-sell their products, something that is now a highly anticipated yearly event. But what’s all the hype about, does Black Friday marketing actually work?
Originally coined by clever retailer Amazon it was named ‘Black’ Friday, as it represents shopkeepers’ balance sheets turning black (positive) from red (loss). The main pegs around this time of the year tended to be Halloween and Christmas so this was the perfect opportunity to get people in-store in the gap in-between. What better way to cause demand than a “day of deals”?
But do the general public actually go for it? Research recently conducted by Butlin’s shows that nearly half of all Brits make purchases on Black Friday, proving certainly this is a day on the calendar not to be overlooked- especially if it is part of your marketing strategy.
The research also shows that only a small amount of the respondents (11%) consider their purchases on Black Friday to be a waste of money, while 41% consider the items bought during flash sales to be money well spent. Just over 2 in 5 people admitted that they use these items on a daily basis also proving that people are potentially unknowingly waiting for the next bargain.
Interestingly, the research suggests men actually spend more than women in pre-Christmas sales, spending on average of £363 compared to the £290 that women spend. So shift your marketing towards the men around this time of the year and you may find yourself at an advantage.
Additionally, it’s suggested that on average people wake up as early as 2.45am on Black Friday to grab those rock-bottom deals, so you guarantee yourself a full day of promotional activity, that’s for sure.
So if this proves anything, it’s that Black Friday is not just another day but something to invest in, in the run-up to Christmas but could potentially boost your brand’s image in ways you never thought possible. If there is one thing we have learnt, people are always on the look out for a deal, so make sure your product is first on the list for next year.
As 2017 draws to a close, have a think about the tricks you may have missed this year and how they could change your brand’s 2018 just by thinking out the box…
BY MADELEINE EVANS