Murray Lambell: 'Retail needs to rewrite the way we do Black Friday'

The countdown is on, with just over a week until Black Friday.

But according to the consumer advice publisher Which? just 1% of items on offer for Black Friday are actually at their cheapest on the day. At a time when value is on everyone’s minds, this just does not cut it for shoppers.

“More than half of people will be choosing second-hand or refurbished products this Black Friday – with the majority citing saving money as their biggest incentive for doing so”

Criticism of the environmental cost of Black Friday has grown in recent years. Many rightly argue that it encourages and excuses overconsumption and overspending while increasing pollution, waste and carbon emissions.

When you consider that almost 80% of Black Friday purchases end up in landfill or incineration, it can be hard to see the positives.

Black Friday has, however, become more important for retail, kicking off the vital golden quarter. In a year when many traders are being pushed to breaking point — with consumer price inflation hitting 6.6% in October according to the BRC Shop Price Index — the need to capitalise on big sales and spending moments is vital. 

Retailers are, therefore, starting their Black Friday sales earlier than ever, conscious of the need to reflect and support shoppers as they manage budgets this Christmas. 

We must recognise that if ever there was a time for a deals day then now is it, as households up and down the country assess what they can afford this Christmas during the cost-of-living crisis.

Taking a stand

It is time for meaningful change — retail needs to rewrite the way we do Black Friday as the financial and environmental costs of this Sales event grows.

That is why, this year, eBay UK will only be promoting deals for refurbished and preloved products for Black Friday, in a bid to encourage people to choose more sustainable options and help reduce the environmental impact of the day.

I am calling on other retailers to join us and help turn the prevailing narrative on its head by investing in second-hand inventory, helping our customers access deals that are better for their wallets and the planet.

We have released new research we conducted with the Waste Resource and Action Programme, which shows that if everyone were to shop preloved or refurbished this Black Friday, the nation could save 1.5 million tonnes of CO₂ in carbon emissions and 300,000 tonnes of waste from landfill.

“On Black Friday last year, eight out of the 10 bestselling deals were refurbished, so we already know it is something that customers respond to”

The research also revealed that more than half (52%) of people will be choosing second-hand or refurbished products this Black Friday – with the majority citing saving money as their biggest incentive for doing so. On Black Friday last year, eight out of the 10 bestselling deals were refurbished, so we already know it is something that customers respond to. 

There are clear benefits for retailers, too. I have long been an advocate of these benefits, and how preloved and refurbished goods can elevate the value brands can get from their products, improve bottom lines and increase an item’s shelf life.

Many brands are investing in their own resale and rental platforms – from designers Oscar de la Renta to high street brands Zara and John Lewis.

We need to take these investments to the next level and take a stand at moments that matter, like Black Friday. It is time retailers took collective action and created change – for our bottom lines, our customers and, most importantly, our planet.

Black Friday may be broken but we can make it relevant for today’s customer by investing in offerings that are better than new.