Retail needs to be strategic on Black Friday to sell well during the date and not anticipate Christmas, says expert

This year, Black Friday happens on November 29. This is one of the dates that inaugurates the year-end purchases and is marked by the offer of massive promotions throughout retail, whether in the home appliances, fashion and clothing, footwear, pharmacies or food sector. Although the period is of great expectation for retailers, attention is needed to be strategic and ensure good sales on the date without forgetting Christmas, which comes soon after, as defended Pedro Albuquerque, co-founder and Director of New Business of RPE Retail Payment Ecosystem, a company focused on payment solutions.

“It is interesting that retail finds a balance when planning promotions for Black Friday and Christmas to be able to maximize sales opportunities on both dates, without compromising performance on one or the other. The furniture and electro-mobile sectors usually have a good strength on Black Friday, but the fashion and supermarket segments, for example, need targeted actions, with good inventory management, efficient alignment between retail and industry, and close monitoring of the customer to know what is his purchasing capacity on these dates”, argues Albuquerque, arguing about the need for the retailer also to make an analysis of the business itself to understand what he can offer in this period of Black Friday.

“Probably, if the shopkeeper wants to sell more, he will need to make a larger credit concession to have more customers buying. So, he needs to understand what credit tools he should use, what are the tools that end customers use most, and be guaranteed a good CRM, which is well worked and well executed. A tip to attract the customer is to offer a specific and more aggressive condition when he uses the store's own card, as this form of payment offers more profit margin and enables greater growth to the retailer”, suggests Pedro Albuquerque.

But before putting together a definitive strategy, it is important to understand how the consumer behaves against the date. According to the survey Buying Behavior and Trends for Black Friday 2024 by Opinion Box and Dito, last year, 68% of people made purchases on Black Friday, and 54% bought throughout November or the week of Black Friday.1 with the consumer products and Black Friday.In addition, 43% of people bought only in e-commerce, while 39% bought both in physical stores and in the consumer products 13rd and in the sector.1storpas the consumer stores and the consumer products of the 11141.

“There is a change happening in retail in recent years that is the role of the physical store, which has gone more to one side of services and experience. It is also a point of support for the withdrawal of products and continues to play a key role in sales and also in attracting customers”, comments the co-founder of RPE & Retail Payment Ecosystem.

Opinion Box survey also found that 55% of people have already decided they will shop on Black Friday this year, with 56% intending to buy electronics and appliances; 43% wanting to buy clothes and accessories; 33%, home items and decor.The expectation for the food and beverage sector is 14%, tied with that of sports. Generally speaking, the scenario is positive, as 43% of people reported that they intend to spend more on Black Friday this year than they did last year.