Use Black Friday To Set Your Business Up For Success With These 7 Insights

Use Black Friday To Set Your Business Up For Success With These 7 Insights. The prevailing economy has seen a seismic shift in consumer behaviour and retailers hoping to cash in on the rapidly approaching shopping holidays will need to take a critical look at their strategies. Fortunately there is still time to make a big impact with these seven insights that won’t just boost Black Friday sales, but will also position businesses for a successful 2025.

Before 2022, Black Friday was all about luxuries and big ticket items. Rising unemployment and a big spike in the cost of living have fundamentally shifted how consumers are spending. Consumers are now hunting for bargains on necessities with bulk discounts on groceries, clothing, cosmetics and other staples at the top of their list. This year shoppers aren’t going to be easily swayed and retailers can expect a very discerning consumer who will do their homework ahead of the summer holiday shopping season.

Here are seven insights that will help you maximise the days left between now and the retail holidays

Today’s loyalty lies with value, not brands

South Africans have become incredibly good at gamifying their spending habits and the summer retail holidays are where their loyalty grind from the past year will pay off. Many shoppers will also use Black Friday to earn additional points for their December spending plans, so smart retailers must ensure they aren’t just offering the very best prices, but should add the lure of future loyalty earning to sweeten the deal.

Give them a taste of what’s in store

Don’t keep your plans a secret. Give your supporters a sneak peak into what amazing deals you have in store for them. When people have a finite budget retailers must fight for their share. Shoppers will only know to set that money aside if they know what you have available. An early start informs your customers before the noise of all the other retailers drowns you out.

Three clicks or fewer

Use this time to fix your website and optimise your mobile experience. Ensuring the user journey is fluid and intuitive is key. It shouldn’t take a customer more than three clicks to find what they are looking for and buy buttons must be clearly visible. Optimise the placements and visibility of features like promo code entries and consider adding features like the ability to shop for product sets or cohorts, which may be missing. There is a lot you want to showcase, but avoid overcrowding your page or do anything that could make it look like a scam – of which there will be many during the height of the sales. The key is to put the customer experience at the forefront and use data-driven insights to refine the website and app before the high-traffic Black Friday period.

You know your customers best

All the work that has been going into building your first-party data gets to shine during the next few months. Leverage what you know from existing customers to understand their buying preferences. These insights can help you create personalised deals, tailored bundle deals, discounts and exclusive offers that you know will appeal to your customers. It’s all about creating relevant offerings rather than relying solely on broad market trends.

Focus on your niche, not everyone can be Amazon

Black Friday 2024 will be the first retail holiday with Amazon as part of the mix. This has set the cat amongst the pigeons but, with a good strategy, there is no reason why independent retailers can’t make their mark. The trick is to really lean into your niche offerings. If you are a boutique store that offers a uniquely South African product, make sure your efforts, content, and spend are geared to that differentiation. Customers who are looking for that specialist offering will support you if they know about you.

Smart spend, smart content

To make sure your target audience does know about you, it’s vital to focus on creating eye-catching content that stands out in a crowded market. Offer meaningful discounts and give customers what they want – especially the 3-for-2 and bundle deals that performed so well last year, as well as early and exclusive access. It is also worth considering a soft launch or pre-Black Friday sign-up campaign to start building anticipation and collecting customer data.

We are advising clients to ramp up spending gradually, starting in October rather than concentrating all the budget around the Black Friday weekend. Retailers should test smaller campaigns (between R5 000 to R10 000) before the main push in order to monitor the performance and to inform the larger investment. Take a measured, data-driven approach to both spending and content creation, testing and iterating to optimise for the Black Friday period.

The season is long, plan accordingly

Finally, Black Friday gets the hype, but smart retailers use the opportunity to achieve longer-term goals. Choosing popular products allows customers to benefit from big discounts and for you to shift stock ahead of the new season. Use Black Friday as an opportunity to reward and retain loyal customers and leverage the data and insights gathered during these efforts to tailor your summer holiday campaigns and offers. Lastly, offer gift card promotions during Black Friday, as these can be easily purchased and redeemed throughout the festive season.W

We view Black Friday as just the beginning of the broader holiday season, and advise clients to use it as a springboard to drive sales and build customer loyalty. With the right agency support, November could set the stage for your 2025 trading success.

Founded in Cape Town, Incubeta is a team of over 800 creators, thinkers, makers and doers working across 20 offices globally to unlock business growth for clients including Google, Sanlam, Shoprite, Netflix, HBO, and L’Oréal. Incubeta combines capabilities across the full spectrum of digital disciplines to deliver standout outcomes at every brand touchpoint, from awareness to fulfilment.