It encourages consumers to go hunting for bargains past the usual national high street and online retailers, who tend to dominate the landscape the rest of the time, due to their advertising budgets. “In a move to avoid a repeat of last year’s scenes, when shoppers stormed stores in the hunt for a deal, online channels will see the bulk of the spending, making it potentially the biggest day of the year for online shopping”. Customers are ready to spend and many use the day as a starting point for their Christmas shopping. Black Friday’s growth is really accelerating, online in particular. They therefore do not have the same luxury as some physical retailers, such as Asda, who have already distanced themselves from the event in favour of introducing discounts throughout December in a bid to avoid the physical altercations that resulted in negative press a year ago.
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It claimed shopper fatigue had set in around flash sales on big-ticket, non-essential items at Christmas. However the cynic in me thinks that those same brands have piggy backed the event to still publicise their “sale offers”. Expect more of the same this year, especially as Tesco is now pushing as hard as it can to cut prices to keep up with the likes of Aldi and Lidl. This may seem like an altruistic act, however, in reality this model works much better for businesses too. Unfortunately for traditional stores the rise of online retailers, the huge savings offered by Black Friday and the saving mentality after coming out of one of toughest economic climates in a lifetime means that shoppers are savvier than ever.
The risk of losing out on sales, no matter if they are heavily discounted means that the lure of one-off sales days is an itch that must be scratched.
How Black Friday got its name is still up for debate, but many believe it is due to businesses marking their profits in black ink (and losses in red). Earlier this year, eDigitalResearch worked alongside retailing body IMRG to determine shopper attitudes towards the event and found 30% of consumers were planning to shop on the day. They also spent more, averaging $1,362 per person, nearly $100 more than those shopping earlier, who spent an average $1,269 each.
Robert Goodman, Bluewater general manager (pictured), said: “With November payday weekend, great seasonal discounts and Christmas a little over a month away, we anticipate Bluewater as the first choice for guests to visit this weekend”. People get their bargains without being trampled and stores can cope with the demand.
AMAZON – The entertainment retailer has been running Black Friday deals over here since 2010, and this year will be no different.
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If you find yourself getting shoved to the back of the queue when the doors open and you’re wearing something that makes you stand out, there’s always a chance shop staff might remember you were at the front and ensure you still get a good deal.
