It’s that time of year again when retailers are scrambling to prepare for the year’s biggest discount sales hype: Black Friday. While it used to consist of the last Friday and Monday in November, Black Friday has now become a month-long affair for most retailers and many reckon that as much as 60% of their annual revenue will be generated during that month.
While many expect to see the same bounce back as we did at the end of 2020, experts warn that businesses may have to adjust their expectations. Covid and the after-effect have carried on for much longer than many of us had anticipated – and it’s now that many businesses are starting to feel the brunt. The bad news is that so are consumers. Two hard lockdowns, job losses, poor economical forecasts and ongoing restrictions mean that consumers are holding on tight to their pennies and the initial confidence for an economic recovery is now somewhat dampened.
Also many smaller ecommerce companies have been forced to slash their margins since the first lockdown in order to survive, so for them the last 18 months have basically been one long Black Friday promotion. There are however still a few things you can do as an advertiser or retailer to try and make the most out of this opportunity to boost your online sales:
Suretha Swart – Campaign Manager