Black Friday is another informal name used for the day after Thanksgiving Day. It is traditionally one of the biggest and busiest shopping days of the year in all of the world as it is the time when the holiday season starts, especially the US, UK, Canada, and Australia.
The day was declared as “Black Friday” back in the 1960s when the day’s sales helped the retailers and the brands to move out from “red” (losses) and phase shift to “black” (profits). Times and shopping habits have changed drastically since then. The retailers everywhere compete highly to offer the deals best around in the hopes of starting their festivities in an excellent financial position.
Here in this article, we are going to discuss some interesting facts that have been proving to be essential for this day.
Black Friday and Deals:
The 2019 Black Friday Sales have already begun. The fact of the matter is that the best deals are not just associated with the “Friday” only, but the big brands like Amazon start their campaigns and offer deals as early as they can like in previous years. We all know how tough the competition these days is to survive in the market and get to the innovative new ways to attract customers.
From electronics to clothes, to mobile phones, to travelling, this day offers discounts on all kinds of products and services. The number of discounts hit their peaks almost a week before Thanksgiving ensuring an average in-store discount of 20% for the week.
Online sales are best on Thanksgiving Day; the average discount is 24% on items like sports goods, computers, apparel, and video games. But Black Friday is the best day to avail discounts on TVs, tablets, appliances, and jewellery. It is no surprise that the product packaging of all these brands has a significant role among their sales no matter what the offer is.
Importance:
It has become a significantly important day all over the world for both the retailers and the economy as the sales are so high. 30% of all the annual retail sales occur during this period until Christmas. Hence making it the kick-off day for the busiest and the most successful season for many businesses.
Each year during this time, consumer spending spikes up by a right margin. In 2018 sales were almost 4% higher than the figures that were stated in 2017 in the United States.
Proofs that Discounted Sales Work:
Here are some essential tests that distinguish the excellent execution of the on this day decide the working of these offers. We have examples from a lot of brands over the years who have successfully made the most out of this day. Some of them are,
1. A famous shoe brand, “Greats,” sends a status report to its customers to let them know about the availability of the stock of their shoes on sale. This tactic turned out to be successful because they used scarcity in their campaigns.
Notifications like “Almost sold out” and “Moving Fast” encouraged the people to rush to their stores and avail the discounted offers as early as possible.
These urgency messages trigger people to grab discounts as much as they can.
Although these were discounted offers, the band made full use of it and had increased the number of sales.
2. “Chubbies” is another brand that came out successful in their discounted campaign. They promoted their famous “Schwarts” on black Friday with a humorous concept of a man resting on sofa pouring down food after Thanksgiving in their advertising materials.
They used humour to boost their sales on this day, which resulted in success for them. They also promoted their ‘Schwarts” by using the line “ate the whole turkey, need comfy shorts” intentionally improving the comfort of their
Product.
3. “Hiut Denim,” a well-loved welsh jeans brand, used a different tactic to make their sales work out. They went into an “Anti-Black Friday” Campaign for their brand by saying, “Buy less, buy better.” This created a sense of exclusiveness in their customers and was well-applauded.
They turned down their website last year on this day as a business tactic by claiming that they were already charging a very considerable amount for their products, and setting them on more discounts would harm their exclusivity. This proved to be a positive impact on their customers and exposed their brand to new audiences claiming that you don’t have to join the bandwagon if it takes away your brand goals.
4. “Patagonia,” a renowned American outdoor apparel brand, introduced a successful campaign in 2016. They added a dominant environmental conservation cause in their drive through their sales. This not only increased their sales, but people also admired the reason they promoted.
They were able to come up with $10 Million worth of donation to 80 of the environmental organizations working to save the environment.
5. “Amazon,” on the other hand, used a unique way of generating sales on Black Friday. They used the video features from the social media platforms. They made 132k views, and 1.2k reactions from the shoppers all over the world by broadcasting their sales live on social media the last year. This allowed them a new channel to reach out to customers all over.
Hailed as the most successful and most awaited time of the year, it’s no mystery that Black Friday brings along crazy sales and business to the brands. From product packaging to printing services, everything plays a significant role in the sales even in discounted offers because of their appeal. While buyers this year again are very enthusiastic about their spending and offers this year, the store owners have to work hard to get the desired attention from the customers in this crazy period of shopping in the whole year.
