Retailers have been forced to realign their sales, marketing and supply chain strategies to make the most of Black Friday and Cyber Monday.
Traditionally, the biggest in-store shopping is the Saturday before Christmas, with Boxing Day the biggest for online. However, Nick Miller, head of FMCG at Crimson & Co, said the emergence of Black Friday, brought to the UK five years ago from the US, has transformed the entire Christmas shopping experience.
“As a result of this, retailers have been forced to realign sales, marketing and supply chain strategies to capture consumer demand. Amazon led the way in the early years for this, but now we are really starting to see massive strides being made as more and more retailers get on board.”
Miller argued that “Retailers should be looking to make use of this momentum and drive future sales opportunities. More savvy retailers should be analysing industry data to identify and exploit future trends in their favour.”
And he pointed out: “In the financial services sector, the calendar effect suggests that certain days, months or times of the year are subject to above-average price changes in market indexes, and can therefore represent a good or bad time to invest. This can be applied to the retail world and Christmas shopping – this could be as simple as looking at what day Christmas falls on and working back to introduce seasonal related offers and sales.”