How effective are Black Friday deals?
I wonder how effective Black Friday actually is.
You will always get the people that simply want a bargain, and they will find it whether it’s Black Friday or not, but what about the damage it does to a brand that’s been built up over many years?
I have noticed that a few of the more savvy retailers had opted out of the crazy ‘pile it high, sell it cheap’ philosophy, or the ‘let’s clear out the stockroom’ strategy this year, instead opting to donate to those less fortunate. And, I for one have more respect for the brands that have chosen to take this route. It shows that they care about their brand and how we perceive it.
After the ‘mini-riots’ that we have seen in previous years, do we really need to act like animals to just get a cheap TV?
As it turns out, no. According to the Telegraph, Amazon sold more than 7.4m items on Black Friday alone (2015), up from 5.5m the previous year, shifting 86 items per second and giving the online retailer its biggest sales day ever in the UK, and leaving the bricks and mortar stores quieter than predicted.
If a brands products and services are good enough surely retailers shouldn’t have to discount their products in order to gain market share?
The discounting strategy that you see with Black Friday deals drives NO customer loyalty, and only serves to de-value products in favour of a cheap deal. And, after the previous chaos – who would want to be associated with that?
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