It’s the time of year that retailers and brands push, push and push their early sales on Black Monday, but it’s been shown over and over again that the sales push on the Friday after Thanksgiving does not really increase the overall bottom line of retailers. In fact, it may rob from higher valued sales later in the holiday season. The trend in retail volume from September through November is a far better indicator for what consumers will spend for the holiday season. So why not reinvent what this day is for: brand loyalty.
Hey, I know retailers are all biting their nails, from Sears, who actually, for the first time in 122 years, opened on Thanksgiving day to Target, which had roughly half its stores open at 4 in the morning that day. Why not think this through a bit more? Instead of having this insane frenzy of buying wherever the best deal is, why not build some brand loyalty into the Friday experience? Having customers come to you is one thing but having them leave with a connection that will bring them back the rest of the year is another.
What if retailers and brands teamed up and provided unique gifts and experiences that where connected to this Friday? What if consumers came in and all got one thing that reminded them of how great Sears is or JCPenny is –wouldn’t that be different? These could be customized items from manufactures that work with the big retailers so that both brands get visibility.
Making this more of a “thank you” from the retailer will enhance and build an experience and connection for customers that brings loyalty to a new level and could trump the Black Friday rush-to-buying madness.