Clever brands are already prepared for Black Friday
Despite this year’s slow economy, both retailers and consumers are looking forward to a successful Black Friday on November 29
Black Friday is predicted to show online growth of 30% compared with the day last year, despite 2019 having been a year of curtailed consumer spend. One reason for this expected growth is that the day falls after payday this year, which leaves consumers with their wallets full and ready to spend, says payment specialists PayGate.
BankServ Africa says that in 2018 consumers spent R3m in credit card transactions, up 16% from 2017. Separate surveys by East Coast Radio and Jacaranda FM have confirmed that a significant number of consumers (75% in both surveys) support Black Friday, both online and instore, and shop for savings on items that include clothing and accessories, groceries and home décor as well as holiday deals, gadgets and technology.
Brands are optimistic that consumers will be willing to spend this year on the right deals – SiteMeUp founder Michael Richards says South Africans have eagerly adopted Black Friday and Cyber Monday, have saved ahead this year and will be looking to maximise their savings.
Cindy Diamond, Group Sales Director at Mediamark advises that brands taking part in Black Friday should be keeping their campaigns going through to Cyber Monday. She adds that despite Black Friday being a guaranteed way to boost sales, particularly in a depressed economy, brands should see the day less as an opportunity to clear stock at low prices and rather use analytical insights to target consumers and think strategically about their campaigns.
The key for retailers to make the most of the predicted spend is preparation. Co-ordinated marketing across channels is crucial, as is creating access and payment methods that are as simple and easy as possible. And while the larger online retailers are likely to dominate, smaller retailers that have prepared in advance will still enjoy their slice of the pie, says PayGate’s Brendon Williamson.
Online clothing retailer Zando has been communicating with consumers about how to be ready to shop and make the most of Black Friday deals. This includes signing up to the website and downloading the Zando app. The retailer has even published a “survival guide” advising consumers to subscribe to notifications and newsletters that will enable them to plan what they want to buy, to work within a budget and to save for their planned purchases. Similar communications have been posted by Superbalist.
Stores participating in Black Friday include Makro, Woolworths, Game, Builders, Checkers, Takealot, Shoprite, Clicks and HiFi Corp.
Redzone Black Friday special offer:
30% off of the six-month Digital and Silver and Gold packages. Contact Cortney Hoyland (firstname.lastname@example.org) or Lucy Rowley (rowleyL@tisoblackstar.co.za) for more information.
The Standard Bank SME Summit – in partnership with Business Day TV – special offer:
The Standard Bank SME Summit, in partnership with Business Day TV, takes place on March 5 2020 in Parktown. The summit is an opportunity for business owners, entrepreneurs, incubators, franchisors, investors and suppliers to the SME sector to come together and engage with experts in the business, technology, marketing and investment fields. Purchase your Black Friday ticket to the conference at R595 ex VAT until December 2. You’ll save R200 a person.