Black Friday 2022 falls on November 25, meaning brands (and shoppers) have about two months to prepare for the big day. Last year, businesses felt the strain of their fair share of challenges, from supply chain issues to sales falling flat from pre-pandemic levels. Although foot traffic was up from 2020, and sales were still decent, many shoppers spread out their spending as Black Friday sales began as early as October. Brands should prepare for holiday sales as soon as possible to combat this year’s high inflation and cost-of-living increases. We have yet to see how holiday spending will pan out, but the earlier brands advertise, the jollier the outcome.
We can make predictions of what we think Black Friday 2022 will bring based on last year's sale event. Due to concerns around shipping delays and supply issues, we saw retailers like Best Buy and Walmart launch Black Friday deals earlier than ever, with Amazon kicking things off in early October.
Typically retailers reserve their best deals for Black Friday proper, but last year we saw the best deals leading up to Black Friday. This might be why, according to Adobe Analytics, spending was down 1.3% on Black Friday compared to last year, and Thanksgiving Day stayed flat. Consumers have spent $109.8 billion in November alone, which was up significantly (11.9%) compared to 2020. This falls in line with the trend of early sales, which drew consumers to make earlier purchases and not wait for Black Friday to snag a deal online. <<<READ MORE>>>
Influencer marketing is solidly a multi-million-pound part of the performance channel these days, so it can’t be an afterthought when it comes to Black Friday. As with all digital investments around this crucial trading period, it needs to deliver returns.
A lot of the work they do is in the analysis and segmentation of customer data to reveal the true story of their new customers’ behavior and provide a solid data-driven starting point that all stakeholders can agree on and plan from.
If you don’t, you could be left trailing behind your competitors. At digital growth agency Found, they point out that this is not a time for 100 ads with separate messaging for Black Friday, Cyber Monday, ‘2 hours left’ etc. Stick to a core of strong creative: go for consistent messaging throughout the week and reduce the percentage of your budget used on learning stages. <<<READ MORE>>>
When you focus on your customers, it's easier to meet their needs and expectations. The first step to meeting customer needs is to map your customer's journey, whether online, in-person or a combination of the two. Using what you have learned from a customer needs analysis allows you to develop a unique selling proposition (USP) that sets you apart from your competition. This enables you to deliver exceptional customer service and user experiences.
Businesses succeed and make more profits when identifying and meeting their customers' product needs and service needs. <<<READ MORE>>>
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