What’s In Store For Black Friday 2022
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Black Friday is around the corner, the major shopping day that got its name for getting retailer’s accounts from being “in the red” to “in the black”. Marking the start of the Christmas shopping season, shoppers and retailers alike are preparing for a big spending day.
Stay Top Of Mind With Consumers
“It is not only important to plan your marketing around Black Friday. It’s also important how you nurture your audience to be top of mind before and after Black Friday. Creating a system such as ’12 days of November deals’ prior to Black Friday, or ’12 days of Christmas deals’ after Black Friday, is a really great strategy to get in front of your customers and remind them about the value of your brand when it comes to purchasing in a crowded environment. We’ve been able to plan and utilize these skills to catch the early customers while also picking up the laggard customers. Because let’s be honest, customers are all shopping at different times for the holiday. Using this strategy ensures that you’re getting the most out of your holiday promotions,” says Ahriana Edwards, Founder & CEO of Vaila Shoes, an extended-size dress shoe brand.
As inflation and rising costs continue to be a concern for shoppers, customer loyalty and retention is a good strategy for increasing sales.
“Despite rampant inflation which has made purchasing goods and services more expensive, savings built up during the pandemic combined with continued job growth and rising wages have allowed consumers to keep spending for most of the year. We are beginning to see signs that their demand is beginning to cool, however. Consumers have shifted their spending away from discretionary spending to cover essentials such as shelter and food. This trend should continue as consumers continue to drain down the savings cushion they previously had built up and as fears of a future recession begin to mount,” predicts Jacqui Barrett, Founder and Chief Data Strategist of The Bright Arc, a data advisory and consulting firm.
Social Shopping
With social shopping becoming more and more popular by the day, and many retailers choosing to keep their brick-and-mortar stores closed for Thanksgiving, retailers can expect their social channels to bring in revenue.
“More people than ever are making purchases directly through social media platforms. Social shopping creates a huge opportunity for brands to boost their Black Friday sales – not only in the form of shoppable ads, but through shoppable user-generated content,” says Meredith Reed, Co-Founder & Chief Operating Officer of Rexxy, a brand-focused affiliate marketing agency. “Brands with affiliate programs can get out in front of the competition for Black Friday this year by teaching their affiliates how to create their own shoppable social content. By simply embedding a QR code, any affiliate can create a personalized post that links directly to the brand’s website with their discount auto-applied at checkout.”
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Reed advises that by combining the power of organic marketing with a seamless social shopping experience, brands of all sizes can bank on having a winning Black Friday sales strategy in 2022.
Many brands are opting out of opening their doors on Thanksgiving Day, but REI is taking it one step further and is closed on Black Friday. The company promised to make Black Friday store closures permanent, and has done so since 2015. Making their web and social platform sales even more crucial.
REI gives all of its employees the day off and encourages them to spend time outside instead – they announced turning the Opt Outside day into a permanent employee benefit. The company will close its corporate offices, distribution, and call centers, and all purchases made on their website will be processed the following day.
“Opt Outside has always been about prioritizing the experience of our employees – choosing the benefits of time outside over a day of consumption and sales,” REI Co-op president and CEO Eric Artz said in a statement.
Black Friday Sales
This Black Friday sales are predicted to go up 2.8%, reaching $34.8 billion overall. “Customer loyalty strategy will be critical for Black Friday as slashing prices may be a short term attention grab, but turning those bargain-hunting customers into advocates will be where the long game comes into play,” says Mona Champaneri, Managing Director of Experiences and Product of Kin + Carta, a B-Corp certified technology, data, experience and product consultancy.
Champaneri advises on many ways to create loyal customers after they discover you on Black Friday, including “Frictionless account creation to prevent users from checking out as guests, personalizing their experience – and this doesn’t end at the checkout, if an order is made, personalizing engagement via email and targeted marketing, and showcasing your brand values to demonstrate why customers should buy from you versus the many other competitors. Don’t let a quick sale blind you – turn your Black Friday shoppers into advocates.”
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