Today marks ‘Black Friday’ – the beginning of a weekend of slashed prices on consumer goods, filling the streets with bargain hunters and Christmas shoppers alike, taking advantage of this discount season to get the best deals around. However, just as this sale event seemed to appear in the UK simply overnight, a mixture of post-Brexit price rises and resistance of this ‘unwelcome discounting’ by many retail companies could see it fall as fast as it has risen. If you’re a retail company, will you be taking part in Black Friday this year?
How did it start?
Black Friday originated in America, taking place the day after the Thanksgiving celebrations. While the nation enjoys time off for the holiday, they take the opportunity to browse their local high streets (much like the UK tradition on Boxing Day), making it a lucrative time for stores. Although there are many different versions of how it got its name, the most retail appropriate story was coined in the 1960’s, referring to the time when shops moved their profits from in the ‘red’ and into the ‘black’, spurred on by the concentrated shopping season. Due to the fact that more people were taking to the shopping streets and malls, retailers soon caught on to this fact and slashed their prices to attract the crowds to purchase their goods. Although Black Friday started in America, Amazon treated their English customers to similar style discounts in 2010, only to be followed by Asda in 2013, which is owed by American brand, Walmart. Asda’s offers reflected the great deals that were seen overseas, with huge savings on many desirable electrical goods and soon, the rest of the UK retailers followed suit in the coming years.
The rise and fall of Black Friday
After the never-seen-before discount day at Asda in 2013 made national headlines, customers were clued up and ready for 2014’s Black Friday, with ques forming outside shops and people racing and pushing between the crowds to get the best deals. However, in 2015 the mayhem of the previous year caused many people to stay safe inside their homes, choosing to take advantage of the online savings instead.
But what will this year bring?
The jury’s out on whether or not this year will be a repeat of the manic events in 2014, or if the shopping weekend will be unnoticeable on the high streets. Following on from the Brexit result, many predict that prices on goods are set to rise in 2017 as the value of the sterling continues to drop. While this means that December 2016 could be the last time to grab a bargain, it could also spark the end of any more similar discounted events in the future and the end of Black Friday in the UK altogether. If you’re a retailer, what do you think? Will you be taking part in Black Friday this year? How do you think your customers will act?
At Printdesigns, our wide selection of retail-focussed banner stands and other display stand solutions that can help to showcase your best deals and guide shoppers around your store. Whatever the future holds for Black Friday, get in touch with Printdesigns to learn how we can help to promote your products, keeping you in the ‘black’ all year round!