Black Friday is one of the biggest shopping days of the year, followed by Cyber Monday where the emphasis is on online sales. Black Friday is also seen as the kick-off for the ‘Golden Quarter’, which is a crucial time for the retail sector.
But is it all just a gimmick? Or are their genuine bargains to be had? And how vital is this period in 2022 for hard-pressed retailers AND shoppers who are all struggling with rising costs?
Our founder and retail expert John Readman gives expert opinion to the BBC
To coincide with Black Friday, our founder and retail expert John Readman was interviewed by BBC World, BBC News and BBC Radio Scotland, South East and Leeds. John discussed his thoughts and expert opinion on Black Friday and the state of the retail sector during tough economic times.
John said: “The retail sector is under unprecedented pressure, with consumer confidence low, the cost-of-living crisis hitting people’s pockets and retailers struggling to stay afloat – so Black Friday, Cyber Monday and the ‘golden quarter’ is a crucial time for the industry.
“Some retailers have been preparing for months for the upcoming period and are spending vast sums of money marketing to consumers and are being competitive in their pricing. However, this isn’t the case for all retailers. Many will be using a range of dubious tactics such as price manipulation, to try and trick consumers into believing they are getting a good deal when in reality they aren’t. This is something that has been taking place for years.
“However, shoppers are becoming savvier this year as they face financial struggles and are considering every pound that they spend. For retailers, this means that they will have to be transparent and honest about the deals and money that shoppers will save.”
Find out more information on BOSCO and how it can be a key platform for your marketing spend
Watch John’s interview on BBC News
Join John and your retail peers for a free 45-minute live workshop on Tuesday 13th December!
Join us on this special workshop where John will share common mistakes and pitfalls in the complex world of digital marketing – and give you a proven framework and several actionable takeaways which will save you money and increase your ROAS in 2023.
📈 Learn which key KPIs you need to measure to drive performance
🔎 How you can easily identify winning campaigns and channels for your business in 2023
💰 Three immediate budget saving techniques you can implement