Black Friday is big business (see chart below for shopper volume and its contribution to the overall percentage of holiday sales). The name Black Friday is traced to two origins – making retailers profitable by putting them in the “black” and the overall volume of traffic – as described by police in Philadelphia.
| 2010* | 2009 | 2008 | 2007 | |
| # of Shoppers | 200M | 195M | 172M | 147M |
| % of Holiday Sales | 23.5% | 22.7% | 19.4% | 15.1% |
| $ Per Shopper | $330 | $343 | $372 | $347 |
*predictions
Those who love shopping on this day will call it an “adventure” or a “ritual.” Those who endure it for the deals will call it “necessary torture”. In either case, websites like www.blackfriday2010.com offer ways to manage the madness. Whether it’s through the availability of mobile phone apps that update deals or just an organized presentation of current and emerging offers, these sites strive to help shoppers get their needs met as easily and as pleasantly as possible. Brad of bradsdeals.com offers 10 tips for maximizing value, safety and fun on Black Friday. In the interest of this busy day, I will just share 3:
- “A fool and his money: be wary of Black Friday deals with quantity limits. If a store only has 10 items at that price, go elsewhere.
- Power of numbers: go with a team and attack separate stores or separate sections of the same store. Designate a meeting place.
- The quiet ones: don’t ignore stores that don’t advertise. They will have Black Friday deals too!”
For those in retail, just like your consumers the weeks ahead can be crazed or joyful. Much of what consumers will experience will be shaped by you and your staff. Tis the season, for leaders to set the tone for the BEST FESTIVE SALES SEASON POSSIBLE! May Black Friday be filled with family, friends, and positive customer experiences.
