17OCT 5 Black Friday opportunities
While Black Friday has expanded to the biggest day in European retail, there are still innovative ways that brands can take advantage of this crucial time ahead of the festive season. The Acosta strategy team gives us 4 top tips for 2018:
Loss leading offers alongside high margin accessories
It may seem obvious but ensuring that your loss leading Black Friday offers can be placed alongside high margin accessories and impulse products is crucial. This must be negotiated ahead of time with retailers and followed up in store. This however is all about execution and that’s where tactical field sales, targeted with ensuring availability and promoting impulse purchase can help brands to maximise the investment in Black Friday deals.
Brands activation amplification
Mixing field sales excellence with experiential activation can seem like a big investment but with the emergence of a millennial generation who value experiences, this can draw attention to the brand with the deal and then create brand advocates for the longer term. Pop up stores, retail activations and experiential parties or events for everyone who purchases a product should all be considered for the brand building value.
Don’t forget the reason why Black Friday was so powerful in the first place. It’s pay day and the date when consumers are most likely to upgrade their standard grocery choices for luxury brands, independent options or finest ranges. Added value can be as powerful at this time as price cuts.
Make an anti-commercial statement
While Black Friday is popular with some, it’s over commercialised for others and a growing trend with independent businesses and the on trade is to highlight ‘Fair Saturday’ or the movement to create experiences rather than to consume. Brands looking to hook into this opportunity can create PR and social value as well as making a statement about your brand.