5 THINGS YOU NEED TO KNOW TO MAKE BLACK FRIDAY A SUCCESS FOR YOUR RETAIL NETWORK
Black Friday has become an obvious date in your retail calendar. The operation tends to extend more and more over time: the promotional operations of the brands now often cover a whole week, articulated around 2 strong moments, Black Friday and Cyber monday. Here are a few trends that can guide your choices when you establish the communication strategy of your network.
Black Friday has become a global highlight of the shopping calendar
A Boston Consulting Group study realized in 2021 in 7 countries (USA, UK, Germany, France, Italy, Spain, Australia) shows it: 90% of the consumers questioned know about it and more than half intend to participate. Italians (61%) and Spanish (56%) are the most motivated, while the British (390€) and Americans (370€) are those who plan to spend the most. It is relevant to pay particular attention to your communication strategy during this period with dedicated offers.
The hybrid online / offline purchase is the dominant model for Black Friday
The advent of e-shopping doesn't mark the end of convenience shopping, on the contrary. Since the end of the Covid19 pandemic, the RoPo (Research Online, Purchase Offline) trend is on the rise. The hybrid online / in-store purchase model is increasingly popular and, according to the BCG study, will account for 48% of Black Friday purchases in 2021, a larger portion than purely digital purchases. These figures underline the interest for retail brands to rely on their point-of-sale networks by developing trade planning strategies.
Black Friday now launches the Christmas shopping season
Black Friday has become so common that it has become the most popular Christmas shopping event, especially for consumer electronics. In fact, consumers are increasingly looking to Black Friday as the start of the Christmas shopping season. In 2021, one in five people said they would buy more gifts on Black Friday than they did the previous year. This means that brands have a huge opportunity to include Black Friday in their Christmas media plans.
Consumers increasingly want ethical and eco-friendly products
Consumers are paying more and more attention to the sustainability of their purchases during Black Friday week. More than 40% of Europeans and Australians say that sustainable origin and manufacturing processes are decisive indicators in their choice (compared to only 32% for Americans). Highlighting their ethical and environmental commitments is now a major challenge for brands during Black Friday.
Consumers want to discover new brands on this occasion
Contrary to expectations, Black Friday doesn't only concern leading brands. 89% of holiday shoppers in France say they are ready to discover new brands during this period. This is an opportunity for challengers brands to deploy omnichannel web strategies (adwords, display, social media, etc.) in order to be seen throughout the sales funnel.