The Reality Of Black Friday
A Correlate Digital Guide
Should your business ride the Black Friday wave?
Love it or fob it off as an American capitalist tradition, Black Friday is a big deal. In fact, it’s all about the deal for shoppers and sellers. It’s a game to play to win otherwise the deal you get can be a raw one.
Starting in Philadelphia in the 1950s as a post-Thanksgiving sale, Black Friday has since spread quite ferociously across the globe to other countries where it has become one of the biggest and most profitable shopping days of the year. So much so, that Black Friday has become a term of endearment for retailers, with black signifying profits.
DownloadHERE’S THE DARK SIDE OF BLACK FRIDAY
All the Black Friday hype fuels the notion that every offer is worth queuing for. Unfortunately, not all of them are. While most stores have legit deals, some dress up their usual prices with a bit of Black Friday finery.
Consumers are aware that not all items are at their lowest price and that some could reduce more as the festive season gets closer.
Quality is another issue. Some products are cheaper on Black Friday than they are the rest of the year purely because companies want them off their shelves. As a smart shopper bent on avoiding raw deals, you would do historic price checks and compare products from different stores to ascertain you’re getting real value before your spree. Consumers typically start researching Black Friday deals weeks in advance. By the time the day comes, at least 48% already know what to buy1.
GOOD DEALS ARE BIG BENEFITS
Getting great deals is the obvious benefit of shopping on Black Friday. 66% is the average discount available to US Shoppers on Black Friday, with possible average savings of $1094 per shopper3. That’s big for the average consumer who needs clothing, shoes, groceries, electronics, and home appliances but also wants more for their bucks.
For businesses, Black Friday can be one of the most profitable days of the year. It comes when people are primed for bargains. Late November is a fetching time to kick start festive season sales with enticing discounts on pretty much everything. Holidays are on the horizon and people are prepped to spend.