This year, Black Friday takes place on November 29. This is one of the dates that marks the beginning of year-end shopping and is characterized by the offering of massive promotions throughout retail, be it in the home appliance sector, of fashion and clothing, of footwear, pharmacies or food establishments. Although the period is one of great expectation for retailers, it is necessary to pay attention to be strategic and ensure good sales on the date without forgetting about Christmas, that comes right after, as defended by Pedro Albuquerque, co-founder and Director of New Business at RPE – Retail Payment Ecosystem, company focused on payment solutions
It is interesting that retail finds a balance when planning promotions for Black Friday and Christmas to maximize sales opportunities on both dates, without compromising performance in one or the other. The furniture and electronics sectors usually have a strong presence on Black Friday, but the fashion and supermarket segments, for example, need targeted actions, with good inventory management, efficient alignment between retail and industry, and close monitoring of the client to know what their purchasing capacity is on those dates, defends Albuquerque, arguing about the need for the retailer to also analyze their own business to understand what they can offer or not during this Black Friday period
Probably, if the retailer wants to sell more, he will need to make a larger credit concession to have more customers buying. So, he needs to understand which credit tools he should use, what are the tools that end customers use the most, and have the guarantee of a good CRM, that it is well crafted and well executed. One tip to attract the customer is to offer a specific and more aggressive condition when they use the store's own card, because this payment method offers more profit margin and allows for greater growth for the retailer, Петро пропонує Альбукерке
But, before setting up a definitive strategy, it is important to understand how the consumer behaves in relation to the date. According to the Purchase Behavior and Trends for Black Friday 2024 survey by Opinion Box and Dito, last year, 68% of people shopped on Black Friday, with 54% having purchased during the month of November or in the week of Black Friday. Furthermore, 43% of people only shopped online, while 39% bought both in physical stores and in e-commerce and 14% bought only in physical stores. Endorsing Pedro Albuquerque's comment, the electronics and home appliances sector led sales, with 32% of them. Clothing and accessories came in second place with 27% of sales, and beauty and cosmetic products in third, with 18%. The food and beverage sector accounted for 9% of consumption, tying with that of bookstores
There is a change happening in retail in recent years regarding the role of the physical store, that has been leaning more towards a side of services and experience. It is also a support point for the withdrawal of products and continues to play a fundamental role in sales and also in customer acquisition, comment on the co-founder of RPE – Retail Payment Ecosystem
The Opinion Box survey also found that 55% of people have already decided that they will shop on Black Friday this year, given that 56% intend to buy electronics and appliances; 43% want to buy clothes and accessories; 33%, household items and decoration. The expectation for the food and beverage sector is 14%, tied with that of sports. In general, сценарій є позитивним, because 43% of people reported that they intend to spend more on Black Friday this year than they did last year
