Inside the Black Friday black box
How do retailers satisfy consumers’ thirst for Black Friday discounts, while keeping some margin for profit?
Last Thursday, in the dark of night, consumers gathered outside the doors of some of SA’s largest retailers. Hours later, countdowns filled the early-morning air as stores prepared to open their doors. And then — pandemonium: hundreds of customers scuffling and elbowing their way forward in an attempt to lay their hands on the hottest deals of the year. And with that, Black Friday arrived in SA.
Black Friday has grown into a popular annual retail event. But with the price reductions required to keep consumers happy, how do retailers keep profit margins intact?..