Friday, November 27, 2020 BLACK FRIDAY
MAKE OR BREAK
Black Friday is the day retailers across the nation look to as “The Day”.
The day they either make it or break it for the year.
BLACK FRIDAY CANCELLED?
Chatter started earlier this year that Black Friday would be cancelled, since so many retail stores were closed due to Covid-19. Black Friday is definitely, not cancelled, but like so many things this year, it will be different.
EXTENDED BLACK FRIDAYS
The trend among retailers seems to be that Black Friday deals will be spread out instead of narrowly launching on a single weekend. Some stores have already started deal days now, in October, as customers are shopping earlier and are searching for bargains. By moving the start date for holiday shopping, you as a retailer are able to keep your inventory in check and not overstock your store. It is good to know that reliable suppliers, like RBR Wholesale, can fill your restock orders quickly and as often as needed so your store always looks fresh and full.
REASSURE A SAFE SHOPPING EXPERIENCE
This year your customers will need the assurance that your store is “safe”. Clearly state that you will have the Covid-19 safety protocols in place and limits on how many people are allowed in your store at once. Announce that you also have other services like curbside pick up and/or local delivery. Know that your customers will avoid endless lines, door-buster stampedes, packed parking lots, or mob rushes, especially this year.
According to a consumer survey conducted by PwC, PricewaterhouseCoopers, 55% of consumers said that COVID-19 safety tops their list of holiday shopping concerns. “As consumers grapple with the unique anxieties of a COVID-19 holiday season, I expect brands to lead with purpose and transparency — prioritizing customer and employee safety, and considering the larger impact their businesses’ have on the communities in which they operate,” said Tyson Cornell, PwC U.S. Consumer Markets Leader.
PROMOTE ONLINE MORE THAN EVER
Retailers will be pushing their online platforms more than ever. Make sure you are posting regularly on Facebook, Twitter, Instagram, Pinterest, and other social media platforms to ensure you are seen and heard. Now would be a good time to review your holiday social media plans and set in place a posting schedule. Automate your posts to save time and be consistent.
PLAN FOR MORE AND SOONER CYBER MONDAYS
Since Black Friday is starting early expect to see “Cyber Monday” sales kicking off long before the Monday after Thanksgiving. Analysts expect a huge portion of sales will move online this year as many of your customers are working from home. Globally, online sales are expected to grow 30% to $940 billion this holiday season, compared with 8% growth in 2019, according to Salesforce’s 2020 forecast.
BE SEEN AND HEARD AND FINISH 2020 STRONG!
So what does all this mean for you and your store? This year, above all other years, you must make yourself visible. There will be a lot of competing voices vying for your customer’s attention and you want to be seen and heard. Know your niche, your customers and your community. Analyze your holiday plan now and be flexible to change direction if need be so that you have the best 4th Quarter ever. So get busy and good luck in finishing 2020 strong!