Thanksgiving is almost here, which means that the holiday shopping season is close. Black Friday has become busier with each passing year as retailers attempt to capitalize on consumers who want to finish shopping sooner, but financial concerns may hurt this year's sales holiday. The National Retail Federation (NRF) recently conducted a survey and found that 147 million people plan on shopping online and in physical stores the day after Thanksgiving, while 152 million consumers bought gifts on the same day last year.
Because Black Friday can be so lucrative, retailers must heavily advertise their products and turn consumers into holiday shoppers. Promotional products can act as incentives to attract seasonal customers, while also advertising stores to larger groups of potential patrons throughout the busy season.
With the economy struggling to recover, consumers are concerned about their finances, especially during the holidays. The Consumer Federation of America (CFA) and Credit Union National Association (CUNA) found in a poll that 43 percent of respondents plan on reducing their holiday spending this year. Customers want good values and owners who offer more than traditional sales may find more shoppers on Black Friday.
Instead of using discounts, you can distribute promotional giveaways to early birds. If a consumer has to decide between coming to your store or a competitor's, a free gift may turn the odds in your favor. You can also use gifts as incentives for certain purchases. For instance, you can give branded water bottles to people who buy exercise equipment.
While stores can't give away their goods, customers appreciate receiving more than what they paid for. Holiday shoppers expect deals and retailers can only reduce their prices to certain points without hurting revenues. Distributing gifts may attract consumers who want more for their money.
Advertising through the holidays
While Black Friday is the first major holiday shopping day, the season lasts over a month. Because Christmas is on a Tuesday, there is an extra weekend between that celebration and Thanksgiving. Stores have two more days than usual to advertise and attract customers.
Distributing branded items on Black Friday can create a marketing campaign that lasts the entire season. It's unlikely that your customers will discard a giveaway, especially if it has functionality. As long as patrons can use a gift, they'll hold onto it, thus exposing themselves to your logos and brand.
Retailers should consider using promotional pens and notepads as giveaways this season. Customers write shopping lists, both for gifts and groceries, during the holidays before going to stores. Shops that advertise on these useful items are marketing to consumers before every trip.
Gearing up for Cyber Monday
What Black Friday is for retailers and Small Business Saturday is for independent establishments, Cyber Monday is for the e-commerce sector. Most stores have websites and sell their goods online now, so they should participate in the digital sale day as well. The gifts that businesses distribute on Black Friday can direct shoppers to websites.
Instead of including large logos and coupons on promotional magnets and calendars, you can print Quick Response (QR) codes on the giveaways. Inform your shoppers that they can scan the images with their smartphones to access special Cyber Monday sales. The exclusivity of the promotional may entice your customers to buy presents online immediately, instead of waiting for the end of the holiday season.
Once Thanksgiving ends, stores must be prepared for a traditionally hectic season. Failure to stand out during the holidays can hurt revenues as competitors start to attract shoppers. Black Friday giveaways can help retailers on the first major sales day and even make an impact as the final celebrations near.