Black Friday: Do or Die?
Whether we like it or not, entering into the second half of the year means it’s time for businesses to start planning their Black Friday marketing strategies. This pivotal retail event (we all love it, and hate it) presents unique challenges and opportunities, making it essential to decide now how you wish to approach it for your business.
We asked Nina who has worked in her share of small fashion and product businesses to shed some thoughts on the somewhat controversial topic. She also gives some tips on what you should be doing to prep for this monster of a time.
I hate Black Friday!
Okay, okay. That’s not entirely true. While I’m not perfect and can easily get swept up in the hype of a good bargain—guilty as charged—last year felt like a new level of madness. I experienced sensory overload, decision fatigue, and an anxiety-inducing feed.
With time, I began to unpack why I felt this way.
Where did I land? I realised I’m dealing with a classic case of internal good cop, bad cop.
On one hand, I LOVE a bargain. However, my fashion marketing degree has been eye-opening to say the least, revealing the profound impact the fashion industry has on our planet and people. My university even developed entire subjects based on the understanding that “The fashion industry is in crisis” and as “future leaders of the fashion industry,” we need to make a change. (Thanks, because university isn’t overwhelming enough without adding the entire prospects of our industry’s effect on the natural world.)
The truth is, hyper-aggressive sales like Black Friday are the antithesis of where we need to go to make necessary changes in the fashion and other consumer product industries. We need to buy less, support brands producing consciously, and invest in quality items that won’t end up in landfills for decades. But when Black Friday rolls around, and sponsored ads bombard you with sales that seem too good to be true, it’s so easy to get caught up in the frenzy. (Plus, with a cost of living crisis, there’s never been a more critical time for bargains.)
On the flip side, my career in small businesses has shown me the challenges they face. The cost of living crisis affects small businesses too, and the retail sale calendar’s intense expectations put them in a tough spot. If you’re a business that cares about your supply chain, your pricing might not be set up for the same kind of sales as big businesses. Hats off to you for caring! Keep reading for some creative ideas to participate in Black Friday without slashing prices.
To wrap up these thoughts, I have some parting words for the two types of people who might be reading this:
Firstly, as consumers, I encourage you to recognise the power of your wallet. The question, “What came first, the chicken or the egg?” applies here too. Did consumers create this problem, or did businesses? It’s complex, but I believe consumers can drive industry change. I don’t want to burden you with anxiety, but consider the impact of your spending and what message you want to send.
Secondly, for business owners, think about how you can get creative this Black Friday without hurting your margins or devaluing your product. This year, you have the chance to push back against sale pressure, strengthen your brand message, and create a lasting conversation with your audience.
Here are some ideas to get started:
- Offer a freebie with orders during the period. E.g. a cute zine (designed by Eddie of course) giving customers insight into your brand… or a low-cost branded hat?!
- Hold a golden ticket giveaway, where random orders win something special.
- Instead of a percentage off, donate a percentage to a good cause that aligns with your brand ethos.
- Provide a free guide or educational e-book with purchase. For a homewares business, it could be a mini cookbook; for a fashion business, a guide to building a capsule wardrobe.
No matter how you choose to move into Black Friday, here’s what you should start prepping now to maximise your impact:
- Strategise your plan. This means deciding on what your message is. Will you be participating in sales or choosing something a bit different?
- Make your message clear and strong. And known. To do this you’ll need to ensure your email flows are optimised for whatever the campaign may be. Customise the Welcome Flow, Abandoned Cart Flow, and Winback Flow to strengthen the customer journey to checkout.
- Focus on social media. How will you cut through the noise and make an impact?
