Black ‘Friday’ is well and truly underway, with discounts spanning the entire month as retailers try to lure shoppers to bolster sales. While many are feeling the uncertainty and cutting costs, we all still want a great Christmas – we just don’t want to break the bank doing so. It’s why we’ve seen consumers start their Christmas shopping early this year to try and spread the cost over a longer period of time. As savvy shoppers try and bag the best bargain, we may see the most successful Black Friday to date.
Cost is the ultimate driver of purchase decision-making right now – but that doesn’t mean expectations for great experiences have dwindled. Businesses need to offer great prices but combine them with great communications and transparency, especially since return rates are likely to increase over this period. Purchasing a product or service is much more than just a transaction, and retailers can use the opportunity to reassure customers that they are on their side, and willing to go the extra mile to look after them.