“Black Friday is dying and retail brands don’t know what to do” says Chief Data Officer, along with new data
Black Friday and Cyber Monday are notoriously the biggest shopping days of the year for brands. But, new data reveals that Black Friday could, in fact, be dying. And what are retail brands going to do about it? Chief Data Officer shares new data and tips for brands – see below.
Revealed by Flight Story – the innovative communications company founded by Social Chain’s Steven Bartlett and Oliver Yonchev – there has been a 21% decrease from 2021 to 2022 in both Google searches and social media mentions on “Black Friday” in the UK.
Alongside the decrease in mentions, Flight Story also reveals the brands with the most negative mentions around Black Friday, often related to comments on consumerism and lack of “high quality” deals. In order, the brands with the most negative mentions were Amazon, Apple, Samsung, Walmart, Xbox, Google, Sony, Dyson, Shark and Playstation.
With consumer behaviour shifting since Covid, and flash deals not attracting customers as much as they used to, Chief Data Officer at Flight Story, McVal Osborne, shares his tips on what brands should do to attract customers:
✅Focus on long-term engagement ve short-term reach: Prioritise memorable content to connect with your target customers on a deeper level. This will help build long-term relationships with customers so they will buy from you all year round.
✅Value for time: Rather than think about positioning your offers as providing “value for money”, look at how you can provide more “value for time”. Time is our most valuable resource, so the biggest win is to create experiences where customers feel happy to spend their time with you.
✅Acknowledge the current climate: Don’t shy away from talking about the current economic climate, but simultaneously don’t default to offering Black Friday deals which are transitory in nature. Stay true to your brand (whether value or luxury), and position your product as the right choice in the moment.
