Back in 2014, sales across Black Friday and Cyber Monday skyrocketed by an impressive 30% above the expected forecast. And in 2015, we saw empty shops across the highstreet.
But last year, some major retailers including Next, Ikea and Asda chose not to take part. Although average sales rose by 12.2% across the weekend, this was a decrease against the expected sales growth of 16%.
So with the popularity of these sales clearly waning, we were curious as to what retailers really think about Black Friday and Cyber Monday. With that in mind, we've created this video for our YouTube channel, Retail 90 full of retailer opinions about the BFCM weekend - the good, the bad and the ugly:
What do retailers really think about Black Friday & Cyber Monday?
As part of our research for this video, we spoke with a selection of retailers and wholesalers to find out what they really think about the BFCM weekend. Here’s what we found out:
Natural Baby Shower
Clifton Vaughan, Managing Director of Natural Baby Shower (a global brand selling a wide range of natural, organic and ethically made baby products) says:
"Black Friday is growing year on year and shouldn't be ignored by retailers in a competitive market. It's difficult for retailers to plan and get right, but with a thought-out strategy, it can be a great revenue driver. Shoppers are getting savvy to deals and watch prices in November, so it's worth trying to inform customers early of impending offers. Also with Christmas around the corner and January sales, be careful not to be discounting too long! We feel it's here to stay but hopefully retailers don't get too greedy and extend or grow it too much, which will eventually saturate the market and stop shoppers from a flash buying frenzy."
Whereas, it seems Pavel Smirnov, Managing Director for Tablet2Cases (a global retailer and wholesaler focusing on phone and tablet hardware) is in two minds about the sales, saying:
"In October to January, we double our turnover. So business-wise, it's good for business. However, I find it ironic that Black Friday is the day after Thanksgiving. But we are in a consumerist society - this is when people shop."
Bat and Bottle
Emma Robson from Bat and Bottle (specialist importers of artisan Italian wines) agrees with Pavel in part and casts doubt on the sales, saying:
"I think the first time I came across Black Friday and Cyber Monday, I saw it as suicide by retail. January sales had already previously killed pre-holiday sales for many companies. We’ve clearly become more materialistic with how much we spend. We haven’t got involved in Black Friday and Cyber Monday in the past and we positively don’t have January sales. Our principle has always been to be a straight and honest business so we don’t put huge markups on products, to then discount. Our prices are very true: if we’re offering a discount, it’s because we want to clear some space in the warehouse and we’ll stick to that policy until we finish our company."
Golden Protective Services
Whilst Donna Best, Director of Operations at Golden Protective Services (a large supplier of safety clothing and equipment) tells us they concentrate on an entirely different day instead:
“We focus on what we call ‘Green Saturday’ - the Saturday before Black Friday, as our sales have always historically increased on this day.”
If you're also thinking you might turn your attentions to different trading days this holiday season, remind yourself of key dates with this 2017 retail calendar!
Right, it's your turn now: what do you think about the Black Friday and Cyber Monday sales? And if you enjoyed this exclusive video, don’t forget to subscribe to the Retail 90 YouTube channel!