Action For Children Quiz Winter 2024 C/D...
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Black Friday Sales, Not Seen To Many
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as I thought it was this Friday?
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There were lots of reports in the financial pages last year suggesting that many UK retailers (particularly on the High Street, rather than online) have decided that Black Friday events don't actually increase their profits (with some firms stating that they'll no longer bother with Black Friday).
Some retailers tried offering stuff that they'd normally be able to sell anyway at lower prices, in the hope of drawing customers into their stores to buy other stuff as well.
Some retailers tried offering stuff that they'd normally be able to sell anyway at lower prices, in the hope of drawing customers into their stores to buy other stuff as well.
[Continued . . . 'cos I didn't hit the 'Submit' button! Why does that keep happening?]:
However many savvy shopers simply bought the discounted goods (that they'd have bought anyway) and walked out of the stores (leaving companies with LESS profit).
Alternatively retailers tried to convince shoppers that they needed to buy something which they'd not normally consider, solely because it was so cheap. In many cases retailers were left with a lot of unsold stock (after making very little profit on what they did actually manage to sell).
Further, the sales statistics show that some UK shoppers spend money on Black Friday in order to save on Christmas presents. So retailers end up with better figures in November but worse ones in December.
However many savvy shopers simply bought the discounted goods (that they'd have bought anyway) and walked out of the stores (leaving companies with LESS profit).
Alternatively retailers tried to convince shoppers that they needed to buy something which they'd not normally consider, solely because it was so cheap. In many cases retailers were left with a lot of unsold stock (after making very little profit on what they did actually manage to sell).
Further, the sales statistics show that some UK shoppers spend money on Black Friday in order to save on Christmas presents. So retailers end up with better figures in November but worse ones in December.
This is from two years ago but it explains why some UK retailers (such as US-owned Asda) have now given up bothering with Black Friday promotions:
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That promotion needs to be used with caution, Trt!
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