Once, the British high street was a hub for a purchaser’s every need. But today, it’s turning into nothing short of a ghost town. This was clear during Black Friday last year where high street visits and sales declined by 6.5% compared to the year before.
With this year’s Black Friday event fast approaching, (November 29), will the prospect of a few cheap deals be enough to entice shoppers back on to the streets?
Despite government efforts to pump money into high street businesses, what can businesses do themselves to try and stay afloat and even prosper during Black Friday this year?
1.”Hot items will drive customers to your store”- Jurgen Ketel, MD Givex:
The primary purpose ofblackfridayis to bring in shoppers who will then buy other products. The best deals are usually on products from the previous year or products that retailers want to clear out to make room for new merchandise. A lot of the time, the other products arent heavily discounted forblackfridayat all in fact, they’re often at very similar prices the rest of the year.
Blackfridayis also great for brand awareness if you have deals on hot items? you should be able to drive new customers to your store. And remember that online shopping is just as crucial on bothblackfridayand Cyber Monday. Retailers need to be prepared for both an increase in foot traffic and e-commerce sales.
£2. “Look beyond black Friday” – Andrew Dunbar, General Manager, Appnovation
BlackFriday 2019 will be challenging for high street retailers because of aggressive discounting by online outlets. Traditional high streets will probably find it tougher than Westfield-style complexes, which offer a retail/leisure combination.
Laura is the Junior Reporter at Real Business and Business Advice. She's the first point of call for any PR, business owner or industry insider looking to tell a story of entrepreneurial inspiration, retell some key advice, or a ground-breaking news story. She is the core ambassador for the brand(s) and can be found attending high profile events and meeting disruptive business owners across London and beyond.