In case you didn’t know today is Black Friday, the American import that took the UK by storm a few years ago. Does it now have the same momentum as it did when it launched in UK stores in 2013? Many of you may no longer head to the shops for all those amazing ‘deals’ but instead sit at home or at the office browsing on your smart devices or computer. Gone are the scenes at Asda where people were fighting over a cheap TV or queuing for hours to be the first customer through the doors. What has this got to do with us I hear you cry… well, if consumers are no longer heading to the physical retail store, where are they getting their Black Friday fix? Answer, mobile apps and online.
Retailers now need to ensure their online presence is as strong, if not stronger than their physical stores meaning their strategy will be changing from store first to digital first. Ensuring your business is ready for the digitally savvy shopper takes time and planning and is most definitely not something any business wants to rush into.
According to a PWC survey carried out in October 2018*, 69% of people will be looking for their black Friday deals on either mobile or PC/laptop and only 24% will look in-store. The other 7% will also be searching digitally but on social media platforms, TV and etc.
You have consumers searching for the best Black Friday deals on their digital devices, so who has the advantage during the black Friday period.... The companies that are digital first of course. Apps will peak in users and website visits will rise, deal after deal will be seen and they will potentially sell more online than in their store. In the US the online sales rose 10%** with sales hitting $7.9b with 40% of these purchases happening by mobile according to Adobe Systems inc.
With the trend only going to up it is imperative that retailers look at their digital strategy and their consumers buying behaviour. Brands who don’t use apps for purchasing are already lagging behind (you can read about Debenhams vs Next in one of my other blogs here) with consumers choosing their mobile device over using their feet to visit the store.
So, the question ‘Is Black Friday now Digital Friday?’ I think the answer is yes! We look forward to seeing the stats for 2018 and will keep you up to date.
If you need more hints and tips on digitally transforming your business, you can head over to our resource centre and download our eBook Digital Transformation the Guiding Principles.