The Key To Black Friday Success? Timing And A Helping Hand From Gen AI
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Attractive couple walking on the street hand in hand, holding shopping bags and looking at the store window getty Black Friday is just around the corner with news of early promotional campaigns appearing daily. Best Buy has launched its official first Black Friday sale, featuring new doorbuster deals every Friday. Target is also offering holiday doorbusters, while Walmart announced that its initial sale will take place from November 14 to 16, followed by its official Black Friday event from November 25 to 30. In what has become a major selling moment for retailers, arriving the day after Thanksgiving, and at the peak of holiday shopping season, the name Black Friday is thought to come from when retailers move from the ‘red’ (losses) to the ‘black’ (profits). No longer a single day, Black Friday has evolved into a multi-week event that that has gained popularity across other parts of the globe. Today, it’s a critical opportunity for retailers to attract price-conscious shoppers, clear excess inventory, and capture holiday spending in the crucial last weeks of the calendar year. Act now to capture spend Retailers often see a significant spike in sales from Black Friday and Cyber Monday campaigns, which can help meet revenue targets. Last year, sales exceeded expectations, with the National Retail Federation (NRF) estimating that 197 million consumers shopped between Thanksgiving and Cyber Monday, spending, on average, $235, up $8 from 2023. This year, retailers will be hoping to see this trend continue. However, with almost half (48%) of U.S. consumers planning to start holiday shopping by the end of October and only 13% waiting for Black Friday and Cyber Monday to start shopping, retailers will need to move quickly to capture their share of festive dollars. That’s according to Accenture’s Annual Holiday Shopping Survey. What to expect this…
