What does Black Friday mean for High Street Retailers?

Black Friday has been growing as an event in the UK for the last 5 years or so having started in the USA.  In the UK it is now worth billions of pounds in sales, mostly online - though there is some debate on whether it is profitable because of the massive discounts offered to attract customers...

Black Friday is having a really negative impact on high street sales and if you are a high street retailer it is difficult to get involved as it is costly and time consuming to implement effectively for a short period and in 2015 we saw many retailers offering discounts for the whole weekend or 3/4 day period.

Really, Black Friday only works for certain categories of higher priced products - and the general consensus is that it only brings sales forward they are not ‘extra’ spend and they are heavily discounted so they are not necessarily that profitable for many it is just about getting that money in your till and not your competitors!

It will be interesting to see how much it is supported this year online and on the high street.

Personally, I think being involved in local events closer to home can often be more relevant for high street retailers as raising your profile locally and building customer loyalty are so important. There are often plenty of local events in the run up to Christmas, such as markets, ‘switching on the lights’ ceremonies etc that your business could capitalise on…

This year in the UK, Black Friday is on 25th November… How will your business be marking the occasion?