Hey there,
Before anything else, pardon me but I’m still stuck in the festive hangover & with the thought of ‘’just how fast the night changes” (No! I’m not singing :P)
However, the celebration season is nevertheless … Not Over!😲
As we move closer to the 25th of November (Yes, The Biggest Sale of the Year - Black Friday),
It’s beginning to look a lot like Christmas. (again, I’m not singing :P)
But what is the Black Friday Sale? How is it relevant for Retail Brands? And, how does it benefits Marketers in escalating revenue targets?
Let’s uncover all the blacks & whites of the ‘Black Friday’ Sale!
📅The Rise of Black Friday Trend in India:
In the beginning, Black Friday was a one-day event in the United States.
But as of today, it is by far the biggest shopping event of the year throughout the world, that lasts for a week. In fact, 56% of Indians are now aware of the existence of Black Friday.
With the marking of a frenzy holiday shopping season and eye-catching promotional deals, Black Friday never fails to lure shoppers into spending their cash.
Why do we say so? Hear us out👇🏽
1. There is an 8% increase in the number of shoppers during the Thanksgiving
2. 73% of consumers prefer to shop in-store on Black Friday, thus increasing in-store footfall by 20%
3. The average transaction value rises up by 4.9%
4. Around 116M Black Friday email is sent every year with an open rate of 34%
5. Millennials tend to be the biggest spenders (40%), followed by Gen-Z (36%)
With a 76% y-o-y increase in sales worldwide, it definitely proves why retailers should strategize their marketing efforts to generate high incremental revenue during Black Friday.
Let’s look at what retail brands are doing to win Sales;
🛍️5 Stunning Brand Campaigns & Strategies
The Black Friday 2022 Sale in India isn’t far away. Let’s decipher some of the well-known brand strategies to lead the sale race:
- Alternative Apparel: Selected Product Category
The brand sells fashion basics for a sustainable future & for their Black Friday Sale, instead of giving discounts on all products, they launched a new leisure collection.
- H&M’s Email Data Collection Strategy
The brand utilized the hype of the festival to build up the size of its database, by offering 20% off everything ahead of Black Friday Sale, for members only. This encouraged users to sign up for the mailing list.
- Simple & Subtle Apple Strategy
With stunning images showcasing Apple products, the tech giant kept things sophisticated. The offer stated that customers would receive an Apple gift card for buying certain products. The offer was valid for 4 days, starting from Black Friday.
- Buy 3, Get 3 by Bath & Body Works
The brand offered their customers to mix & match the entire store. With every 3 purchases of high-valued products, the 3 lowest-valued products were given as free gifts. Truly a clever step by the brand to lure in customers & strategize clearance sales with Black Friday.
- Bestseller’s Personalized Digital Campaigns
Bestseller customers were spread amongst different regions of the country. For the Black Friday Campaign, the customer was bifurcated into various categories based on affinity to discounts, cycle of purchase, & likelihood to purchase the winter or summer collections. These segments were used to send highly personalized campaigns to these customers.
Results?! The brand generated a 19% increase in revenue
📚Story of the Week: Bestseller Black Friday Campaign led to 19% growth in Revenue
BESTSELLER India partnered with Xeno during its Black Friday Sale in 2020 to reach out to their customers with personalized offers. Let us understand and decode the strategies that lead to an increase of incremental revenue by 19%.
Read the full story here: Bestseller grew Incremental Revenue by 19% with Xeno’s Next Gen CRM
That’s all for today.
P.S. Do you know how Black Friday got its name?🤫 Let us know by replying to this email:
Till then, hope you have the brightest week ahead. 💪🏼
Until next time,
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