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With Black Friday upon us, we’re looking at ways in which retailers can capitalise on the bargain-hunting crowds that flock to stores across the country.
No longer perceived as a single day of discounting, the trading event now spans an entire month, with an unprecedented number of retailers pledging to offer reduced pricing. Whilst the thought of bargain deals may entice customers, how does it affect the traditional Christmas sales period and the notion of Black Friday as a key trading day in the retail calendar?
Whilst the event appears to have become more prominent overall, it is predominantly online retailers such as Amazon, that are reaping the rewards – by extending promotional deadlines year-in-year-out, the digital giant holds a head start on their in-store competitors. For those high-street retailers not partaking in month-long bargains, this puts a strain on the importance of Black Friday as a single source of sales for one day.
As online sales soar, the need to drive traffic into physical stores grows. Therefore, it is important to recognise the needs of the consumer in order to make the high-street shopping experience more appealing. With over 20 years experience creating and innovating for a plethora of well-known brands, we have put together a list of tips and tricks to help you navigate this season of sales.
Don’t get left behind in the sales rush:
What remains a lucrative and lengthy period for online retail giants, is often a period of pressure for high street and independent retailers. With deals having already begun and savvy online shoppers already scooping bargains weeks before, in-store retailers are encouraging consumers into their shops with the promise of unique buys, effective point of sale displays and organised shop-floors ready for the rush of sales.
Black Friday tips for retailers and brands:
Don’t hide your stock: Remember, every sale counts. Just because this is the ‘season of sales’, does not mean you have to leave full-price stock behind – you will find that these items help boost your profits and side-lining them will potentially put your sales in jeopardy.