Econsultancy columnist Nikki Gilliland has shared four ways for retailers to prepare for the Black Friday from now.

Gilliland says, “According to the Office for National Statistics, there was a 1.5% decline in volume of UK sales last December (month-on-month) following a particularly strong November. 

The drop was seemingly due to consumers buying earlier in order to take advantage of Black Friday sales.

This proves what an opportunity the event presents for retailers, with consumers more eager than ever to spend during this period. And as retailers typically plan for Christmas in July, it certainly makes sense to do the same for the behemoth that is Black Friday.

With this in mind, here’s a run-down of how retailers should be preparing and why.

(N.B. For more on this topic, subscribers can download Econsultancy’s ‘Lessons from Black Friday’ Best Practice Guide)

Define your goals

Many brands make the mistake of lazily jumping on the Black Friday bandwagon resulting, at best, in last-minute discounts on unsold stock. At worst, it could mean promoting deals under the banner of Black Friday which turn out to be the same throughout the year”.

Four ways retailers should start preparing for Black Friday in summer

Econsultancy
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