Black Friday is not right for all retailers
Originating in the US, Black Friday has made its way over to the UK in recent years and has become an increasingly prominent shopping event in the retail calendar.
As shoppers get ready to snap up the best bargains, it is easy to assume retailers are obligated to take part. However, there are pros and cons to participating.
Having a full understanding of a retailer’s offer and how participation in Black Friday could affect customer perception of your brand is vital, says Paul Rouke, founder of website optimisation agency PRWD.
“If your brand equity is high, you need to consider whether discounting could devalue your brand in the eyes of your customers,” he explains. “Do your products have high margins that can sustain discounting or do you have a lot of stock to shift? Understanding these areas as a first step will help you to work out whether Black Friday would be right for your business.”
Knowing whether participating in Black Friday discounting is in keeping with a retailer’s brand image is important. It may not be the right move for every business, and those that do participate should be well prepared.
“Retailers should consider how and where they promote offers through their web experience in the run-up to Black Friday,” says Rouke.
“Retailers should forecast how much extra resource they will need to fulfil the orders and ensure they are promoting their unique selling points during or after the initial Black Friday sale to get the most value from this activity.”
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