Should your business run a Black Friday Sale? Science says no, according to behavioural strategist Dan Thwaites.
Black Friday and Cyber Monday coincide with a challenging time on the high street, both the physical and cyber varieties. As stockpiled inventory and sale volume targets weigh heavily on marketers’ minds, the temptation to discount looms large.
But is this the right call?
Discounting, by definition, reduces revenue and devalues the brands and offers that businesses have spent the rest of the year building. Experts have already warned that Black Friday will have a negative impact as shoppers simply buy Christmas presents early and at a greater discount.
There’s also rising concern among consumer groups such as Which? that there are few genuine discounts on offer in any case, potentially leading to greater cynicism and disillusion among shoppers.
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