Why is Black Friday Important to your Business?
Rach Brind-Surch
20th October 2021
As our pumpkins get sliced and diced for soup and November kicks off, the countdown to Black Friday begins! Taking place this year on the 26th of November, Black Friday will see millions of consumers flock to both online and offline stores in order to bag a deal over the weekend and on Cyber Monday.
During the pandemic, shoppers swapped their in-person browsing to digital platforms, and that change of habits is likely to stick.
No matter the size of your business you can prepare for Black Friday in order to take advantage of this seasonal shopping extravaganza.
What Started Black Friday?
The popular mythology around the name Black Friday is that it was originally thought to be related to balance sheets for businesses. The story is that the post thanksgiving overspend in the sales led to many businesses' accounts going from red to black.
However this is quite simply not the case. Instead, the origin of Black Friday is that it was a title given by Philadelphia police to the upwards trend in crime and unrest which followed Thanksgiving.
This increased footfall meant more seasonal shopping for Christmas in America in the post holiday sales. Not quite so heart warming sadly!
Despite the initial reason for the name, Black Friday has persisted and spread from America and into the UK. Now one of the the biggest days of the year for sales, retailers can’t afford to ignore it.
What about Cyber Monday ?
Cyber Monday is a newer invention than Black Friday and was in fact created in order to help small retailers compete with larger businesses. Though initially its own distinct event, with the focus for Black Friday being offline sales, the two have begun to be thought of as one seasonal event.
Black Friday traditionally falls on the Friday following the American holiday of Thanksgiving, with Cyber Monday commencing the Monday after. With massive discounts being available and shoppers encouraged to flock to the stores, Cyber Monday provided an online counterpoint.
Is Black Friday really important to my Business?
Due to the pandemic, there are tighter financial restraints on many Brits and shops have faced restrictions and challenges with supply lines. All this has meant that last year the experts saw a downwards trend in those seeking to bag a bargain on Black Friday. They believe that with financial pressures increasing still, this will continue this year.
However it is still estimated that 33% of Brits will be heading online or in store for some holiday shopping. With a total spend of £6billion being attributed to Black Friday last year, that is still a significant number to take notice of. It makes sense of companies to want to get in on the action.
This is good news for online retailers and small businesses who have been able to capture those shoppers who have been changing up their shopping habits over the past couple of years by getting online. In order to make the most out of this year, focus your marketing efforts on SEO optimisation for your website and driving sales through digital means and you’ll be on your merry way to Black Friday 2020 success.
Keep your eyes peeled for more detailed tips about how you can get your online store ready for Black Friday.
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