Black Friday for SMEs – alternative approaches for the Xmas peak
The Black Friday period has become well known for being a discount-heavy time, with lots of marketing noise and bargains available to shoppers. Large retailers can often absorb these hits to margins, but for SMEs it’s a tougher prospect.
So does that mean the Black Friday peak isn’t for SMEs and independents? Well no, not necessarily.
The interesting thing about Black Friday is that it has no cultural significance in the UK (being linked to Thanksgiving in the US) and it has already shown a remarkable capacity for adapting as an event – in many ways, there is an opportunity for retailers to make what they want of it.
IMRG and Barclaycard have produced a mini report setting out some alternative approaches that SMEs can take to ensure they are not left out of the Xmas peak sales period.
Possible approaches include:
• Running community events
• Focusing on showcasing expertise
• Showcasing green credentials
• Getting engaged with charities
• Discounting positive ranges
