Black Friday is an important event in the U.S. retail calendar, offering businesses unparalleled opportunities to boost sales and expand their customer base. In 2024, consumers in the U.S. spent US$10.8 billion online during Black Friday, up from $9.8 billion in the previous year, highlighting a solid increase in YoY sales as per Adobe Analytics. 

This surge highlights the event’s potential across various industries, from electronics to apparel. To make the most of this potential, businesses must implement strategic approaches tailored to Black Friday’s unique dynamics. In this article, we’ll explore different ways businesses can use to grow during Black Friday. Let’s start!

What is Black Friday & How did the Sale Trend Begin?

Black Friday is a day that is observed on the Friday following Thanksgiving in the United States. It marks the commencement of the holiday shopping season in America. The term “Black Friday” originated in Philadelphia during the 1950s and 1960s, when local police officers coined the phrase to describe the rowdy tourists and shoppers that flooded the city on the day after Thanksgiving, creating chaos, traffic congestion, and shoplifting opportunities.

In the 1980s, retailers began to reframe Black Friday as a positive and prettier event and tried to sell it as “Big Friday” suggesting that it was the day when businesses moved from operating at a loss to achieving profitability due to the surge in consumer spending. Over time, Black Friday has evolved into a major retail event, with businesses offering significant discounts to attract customers. 

The increase in online shopping has further transformed this business, leading to the emergence of Cyber Monday, which focuses on e-commerce promotions. Today, Black Friday is not only a significant day for retailers in the United States but has also gained prominence internationally, with many countries adopting similar shopping events to kick off their holiday seasons.

Understanding the Impact of Black Friday on Business Growth

In this section, let’s understand how Black Friday sales can impact the growth of your business:

Increased Sales Opportunities

Black Friday consistently drives substantial consumer spending. In 2024, the sales hit a record of US $41.1 online sales over the entire weekend. This trend highlights the event’s capacity to significantly boost revenue within a short timeframe.

Attracting New Customers

The allure of Black Friday deals attracts a diverse range of shoppers, including those who may not typically engage with a brand. In 2024, starting with Black Friday and ending with Cyber Monday, about 197 million consumers shopped over the weekend. 

This inflow gives businesses an opportunity to convert their first-time visitors into loyal customers with the help of exceptional service as well as targeted follow-ups.

Brand Awareness and Visibility

Participating in Black Friday promotions elevates a brand’s presence in a competitive market. The heightened consumer interest and increased marketing efforts during this period can lead to sustained brand recognition beyond the event itself.

Inventory Liquidation

Black Friday serves as an effective channel for clearing out excess or outdated inventory. By offering attractive discounts on these items, businesses can free up storage space and improve cash flow, while providing value to customers seeking deals.

Competitive Advantage

Engaging in Black Friday promotions allows businesses to stay competitive within their industry. Offering compelling deals can prevent potential customer attrition to competitors and can even attract competitors’ customers seeking better value.

Developing Effective Black Friday Strategies

Here are some of the effective strategies that businesses can use for Black Friday sales. 

Early Planning and Promotion

Initiating preparations well in advance is crucial. This includes setting clear objectives, developing marketing materials, and scheduling campaigns to build anticipation. Teasing deals through social media and email marketing can generate excitement and keep the brand top-of-mind for consumers.

Segmented Email Campaigns

Personalization enhances engagement. By analyzing customer data, businesses can craft tailored offers that resonate with specific segments, increasing the likelihood of conversions. Re-engaging dormant customers with exclusive deals can also rekindle interest and drive sales.

Leveraging Social Media

Social platforms are instrumental in amplifying Black Friday promotions. Sharing highly engaging content like sneak peeks and countdowns, creates excitement. Collaborations with influencers can further extend the reach and add credibility, tapping into established audiences.

Crafting Compelling Black Friday Offers

Implementing strategic promotions during Black Friday can enhance sales and customer engagement:

By adopting these strategies, businesses can effectively capitalize on Black Friday promotions to drive growth and achieve substantial sales increases.

How to Increase Customer Experience During Black Friday?

Here is how to elevate customer experience during Black Friday sales:

1. Website Optimization

Ensuring the website can handle increased traffic is vital. A fast, reliable, and user-friendly site enhances the shopping experience, reducing bounce rates and cart abandonment.

2. Customer Support Readiness

Preparing customer service teams to handle inquiries efficiently ensures a positive experience. Offering support through various channels, including live chat and social media, meets customers where they are, enhancing satisfaction.

3. Inventory Management

Conducting thorough inventory checks ensures product availability, preventing stock outs that can lead to missed sales opportunities. Utilizing Black Friday to move overstocked or seasonal items can also optimize inventory levels.

4. Customer Retention Efforts

Following up with customers post-purchase solidifies relationships. Sending thank-you emails, soliciting feedback, and enrolling customers into loyalty programs encourage repeat business and foster brand loyalty.

5. Data Analysis and Insights

Analyzing sales data and customer behaviour provides insights into the effectiveness of promotions and consumer preferences. This information informs future marketing strategies, enabling continuous improvement.

Future Black Friday Trends

Historically, Black Friday was characterized by early morning doorbusters and in-store shopping frenzies. Over time, the event has evolved, with a significant shift towards online shopping. In the last few years, there has been a noteworthy increase in online sales.  

Looking ahead, the integration of advanced technologies such as augmented reality (AR) and virtual reality (VR) is expected to enhance the online shopping experience. AR-powered virtual try-ons for fashion and beauty products, as well as VR-based virtual showrooms, will likely become popular, especially in industries like apparel and home decor.

Sustainability is also set to shape future Black Friday trends. As consumers become more eco-conscious, brands offering eco-friendly deals and sustainable product options will stand out. For example, Patagonia’s “Don’t Buy This Jacket” campaign during Black Friday in 2021 highlighted its commitment to sustainability and garnered massive attention.

Moreover, the shopping period is increasingly stretching beyond a single day, with “Black November” sales gaining traction. Businesses will need to plan multi-week campaigns that keep customers engaged across the entire holiday shopping season.

Conclusion

Black Friday presents an opportunity for U.S. businesses to grow through increased sales, increased visibility, and customer acquisition. By understanding its impact, planning effective marketing strategies, and ensuring a seamless customer experience, companies can maximize the benefits of this shopping phenomenon.

To stay competitive, brands must not only leverage Black Friday for immediate growth but also build long-term customer loyalty by offering value and superior experiences. If you are looking for accounting and bookkeeping services or payroll accounting in the US, you can opt for GJM & Co. Our taxation accountants & CPAs cater to all your Payroll Management, Business Formation, Taxation, Virtual CFO needs, and much more. Email us at info@gjmco.com or Schedule a call.