Love it or hate it, Black Friday has become an unavoidable shopping tradition in the UK. It’s the day when bargain hunters go wild, stock flies off the shelves and retailers compete with each other to offer the best deals. In fact, the footfall for this year’s Black Friday is predicted to surge 11.5 per cent year-on-year in retail destinations across the country; with retail parks expecting the biggest boost of 17 per cent year-on-year (BRC-Springboard Footfall and Vacancies Monitor). However, despite the forecasted uplift, brands are becoming mindful of how this surge in customers can disrupt the shopping experience, considering the chaos that occurred in 2014.
With overcrowded stores, low stock and even scuffles breaking out amongst shoppers across stores, brands and retailers know these scenes did depict an unseemly side to Black Friday. In fact, following last year’s Black Friday, three quarters of shoppers reported having a bad experience, so much so that some shoppers have been put off the event entirely; with an estimated 36 per cent of shoppers planning to bag a bargain on Black Friday this month, down 6 per cent on last year (Blue Yonder).
Black Friday is a moral dilemma for many brands. Those brands that have adopted a careful and strategic planning approach are best positioned to reap the benefits during the flash sales. The 27th of November presents brands with an easy opportunity to shift stock and target shoppers ahead of Christmas. Stealing a march over their competitors, brands can sell up though the range, using the discounted headline model to make attachment sales on other product lines.
John Lewis is a prime example – in Black Friday week last year it broke its all time sales record in its 150 year history, achieving £179m worth of sales. On average, the retailer recorded one tablet sold every second and a TV every minute from the moment the 24 hours of Black Friday began.
Technology products are normally a considered purchase so it’s no surprise that they are typically the most sought-after items on Black Friday due to their heavy discounts. Those electrical brands that have fully planned how the opportunity fits within the scope of the customer experience will benefit the most reward from this high customer demand. When purchasing high-ticket items like TVs, customers are more likely to seek the advice of staff to ensure the right decision is made. Providing in-store staff with sufficient product and customer training, as well as deploying product demonstrators, caters to customer needs and ensures sales opportunities are maximised.
Whilst the in-store offering needs to be on-point to assist and manage large volumes of shoppers, having an effective omnichannel approach is also required. Providing a consistent offering from in-store to online will be key in accommodating those 6 per cent of shoppers who are in search of a bargain without the perceived hassle of busy shopping scenes.
With many shoppers now starting their Christmas shopping early and retailers displaying Christmas ranges and decorations, it will be interesting to see how a retailer’s decision to scale down its Black Friday operations will impact its trading figures during peak season. Positive or negative – only time will tell.
By Daniel Todaro, MD of Gekko.
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