Black Friday Toolkit: What Retailers Need To Know
As ‘Black Friday’ kicks off in earnest at retailers around Europe, ESM gets the perspective from a number of leading industry experts about the growing significance of this annual event, and how the make the most of this optimum shopping opportunity.
Tim Barrett, Euromonitor International
“In an age where everyone is too busy and all our actions are data points to learn from, retailers that release holiday sales information earlier than their competitors increase their exposure to customers and in doing so, gain more time to gather information on how to best prepare for the coming months. Generating demand for the ‘hottest’ toys of the season is both an art and a science, and by releasing this information to the public sooner, retailers and their supplier partners get more data upon which to limit customer frustration from crucial out-of-stocks. By extending timelines, shoppers have more time to shop while helpfully narrowing the decisions needed to enact a successful merchandising strategy for retailers.
“It appears as though Black Friday shopping will continued to extend itself as shoppers opt for increased convenience. Not only do they want to order when they want, but also where they want. The continued draw of e-commerce along with anticipated delivery times will make retailers with larger sales periods more enticing.”
Eleanor Parr, GlobalData
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