The countdown to Black Friday is live
The all-important fourth quarter has started and on the 25th of November, it is for this year's Black Friday chaos. Originating in the United States, the annual day of high discounts has more than reached Europe. A recent study by Statista found a 100% awareness of Black Friday across some of the largest European economies.
With this awareness of Black Friday, shoppers have waited to buy and are ready to buy when discounts are present. In their study, Google recently showed that shoppers are starting to search around eight weeks before the actual Black Friday to look for relevant discounts.
What is the result? Black Friday is the day with the highest sales of the year. In Denmark alone companies sold for over 2 billion DKK (ca. 286 mil Euro). Companies that are not participating are missing out, as customers are actively in-market and the Christmas shopping budget getting spent on Black Friday.
Importance of Black Friday for SMBs
Now let’s look at the importance of Black Friday for the SMB. While the Covid-19 pandemic has shifted shopping online and e-commerce companies are fighting for customers' attention online, the trend is shifting again. Roamler reports that around half of Europe's consumers are planning to visit a physical shop during this year's Black Friday and 65% are visiting either only SMBs or SMBs and well-known brands.
This evidences that SMBs should be ready to capture this imminent demand. This will not only help them to capture sales on Black Friday but also reinforce their position as a store or service in the mind of the local customer. The question of Black Friday discounts is therefore not “if’ but ‘how’.
How should European SMBs let customers know that the SMB is offering the right discount to shop local? While some might come by themselves to check if there are any relevant discounts, SMBs should be proactive in telling their local audience about their offers. Local digital marketing is a great option, as the right customers are reached while they are evaluating options online and in-market for offers. It is a clear advantage for SMBs to advertise omnichannel and start early to both reach customers in different stages of the buying cycle and avoid high competition throughout Black Week. It's critical here to make sure you are spending in line with budgets and doing so without wasting budget.
What does Black Friday mean for Nexta's partners?
As the key marketing contact for the SMB, Nexta's Partners have a big opportunity and obligation to empower their clients. Black Friday is without a doubt the most crucial sales day of the year and SMBs should be ready to get the word out as early as possible. Here are three steps on how these clients can be helped:
Make them aware: Making SMBs aware of the possibility and potential of Black Friday is key to making them competitive against bigger brands and online merchants. You find more information and infographics about Black Friday in this Roamler Report.
Guide them to the right discount: It is important to promote the right discounts to the right customer based on the SMB's main customer profile and competition. An example would be to focus on discounting some best-selling items, so clients have the incentive to come to the store and then also buy additional pieces.
Present the right advertising solution: To stand out SMBs need to advertise early and across different channels. Nexta's packages and targeting options offer the optimal solution to reach local customers across all the relevant channels.
Download our infographic template
To make your conversation with end-clients successful we have made a template with infographics about Black Friday in general and specifically for Denmark and Norway. Download it now.
Interested in learning more about Black Friday?
Black Friday is only one month away. Contact a Nexta Marketing Expert today to learn more about ideas, setup, and strategy to get SMB clients ready for Black Friday. Otherwise, feel free to write to our support email for quick help.
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Magnus Brydning
Client Success Specialist
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