No one could have foreseen a year like this and many of us are looking forward to brighter days that lie ahead where tiers are only referred to in relation to celebratory cakes. But the show must go on and as usual, we’re looking ahead to Black Friday and although this year will be very different (Black Friday in lockdown, how very 2020) we’re outlining our predictions ahead of November 27th.
But first, let’s take a look back at what Black Friday looked like last year.
For starters, Black Friday is the most anticipated retail event of the year and since 2018 it has overtaken Boxing day sales as the most participated consumer event. Many UK shoppers see it as a fantastic opportunity to get Christmas gifts early at more affordable prices.
As an event, Black Friday gets bigger every year and we’re not just talking about the fact that it’s no longer a weekend event but the whole month. Last year’s estimated spend was at an all-time high of £8.57billion!
The top product types that have the biggest draw for bargain hunters are electrical, fashion and toys and games (Retail economics) which is of no surprise when smartphones, games consoles and televisions are reported as Amazon’s top sellers during this time, amongst its own products of course.
Though it may be the busiest shopping event of the year, some argue that there is a growing sentiment among brit’s regarding whether we’re truly getting a ‘deal’, which has left some quite polarised when it comes to participating. However, only 8% are said to be actively avoiding Black Friday and for any business to be successful, they must be able to demonstrate the value of their products and services to customers. This does not change on Black Friday and it is a great excuse for brands to engage with their audience and find out what types of offers and content they would find worthwhile.
While massive e-commerce companies such as Amazon cash in on the event, given that recent retail trends suggest we are entering the ‘golden age’ of retail localisation, many customers will want to ensure their money is spent on supporting local business. This year Small Business Saturday comes the day after Black Friday and presents an opportunity to attract shoppers who are more conscious of where their money goes.
We predict that electrical purchases are still going to be the biggest category of sales but with current and future social events put on hold, we’re believe fashion retail might fall below other categories such as toys and games.
We’ve already seen a sharp increase in e-commerce this year due to the pandemic. Unsurprisingly our shopping behaviour has moved even more into the online space and with the recent government announcements regarding the second UK lockdown, we’re expecting mobile ecommerce to soar. In fact, last year 71% of UK shoppers participated in Black Friday deals using their smartphones. And with screen time having grown this year and all non-essential shops being closed, we’re expecting this to rise yet again.
This year has been difficult for many, but as we head towards Black Friday and holiday season more generally, businesses will be keen to pull back any lost revenue due to the pandemic and creative, effective campaigns, can help them achieve this. And given that your customers are already going to be on their mobile phones looking for the best deals, an SMS campaign to grab your customers attention, could prove valuable.