November 27, 2013
Are retailers messing up “Black Friday”?
For the past 20 years, it has been a tradition for families to plan out their fridays by hitting the malls, the day after thanksgiving. For us too lazy to get up at 5am, it’s been fun to watch on TV to see doors opening with screaming people trampling each other trying to get to those door crasher specials.
It’s a huge day of travel, this year threatened by snow storms, it’s a huge day for turkeys, football and cookies. But, most of all, Thanksgiving itself is a sacred time for families.
So this year, major retailers including Wal-Mart, Target, Best Buy and Sears will be opening on Thanksgiving Day. This won’t mean a jump in revenues it just means revenues will be brought forward one day. Yes, retailers have this belief that it’s a constant dog-fight for sales, and if one my competitor gets a leg-up, that means a loss to me.
Retailers are facing such pressure during these economic times so I’m somewhat sympathetic. Margins are shrinking and many retailers basically make or break their year during Thanksgiving and New Years. So I can understand the temptation.
Before we get into the ethical part of opening, let’s look logically at the 8 ways a brand can make more profit: 1) increasing prices 2) getting consumers to trade up 3) lowering your cost of goods 4) lowering your marketing costs 5) stealing other users 6) getting users to use more 7) entering new categories and 8) getting new users. I realize it’s all about stealing other users. But if both competitors blink and open at 8pm on Thanksgiving, no one really wins over the consumer. The only thing I see her is a slight increase in the costs of increased wages and store opening costs. Net net, no one really wins.
But come on guys, while your press releases are saying you’re really just “catering to consumer demand”, I don’t buy it. I’d rather see all Americans sitting around the dinner table and watching football with family and friends.
If families are your main target market, you should be making a big deal out of the fact that you are closed so that all employees can spend time with their families. That’s a great way to establish love for your brand. My Hope is the Retailers Announcer Early that they will be closed on Thanksgiving 2014
To all our American Friends, I want to wish you and your families a Happy Thanksgiving
To read more about how the love for a brand creates more power and profits:
ABOUT BELOVED BRANDS INC.: At Beloved Brands, we are only focused on making brands better and making brand leaders better.Our motivation is that we love knowing we were part of helping someone to unleash their full potential. We promise to challenge you to Think Different. We believe the thinking that got you here, will not get you where you want to go. Our President and Chief Marketing Officer, Graham Robertson is a brand leader at heart, who loves everything about brands. He comes with 20 years of experience at companies such as Johnson and Johnson, Pfizer Consumer, General Mills and Coke, where he was always able to find and drive growth. Graham has won numerous new product and advertising awards. Graham brings his experience to your table, strong on leadership and facilitation at very high levels and training of Brand Leaders around the world. To reach out directly, email me at email@example.com or follow on Twitter @grayrobertson1
At Beloved Brands, we love to see Brand Leaders reach their full potential. Here are the most popular article “How to” articles. We can offer specific training programs dedicated to each topic. Click on any of these most read articles:
- How to Write a Brand Positioning Statement
- How to Write a Brand Plan
- How to Write a Creative Brief
- How to create a Brand Strategy Road Map
- How to Judge Advertising
- How to write a Mini Creative Brief
- How to Think Strategically
- How to Build a Media Strategy
- Brand Love = Power = Profit
- How to Have a Successful Marketing Career
Ask Beloved Brands to help you uncover the love and power on your brand or ask how we can help train you to be a better brand leader.