In this comprehensive report, Angela Thompson shares marketing insights on Black Friday patterning.
Retailers’ promotions during Black Friday were significantly reduced this year; both in number of promotions offered and the richness of those offers
Retailers spread out their promotions for a longer period of time to reflect a lower in-store capacity and acknowledge a shift of consumer behavior driven by COVID-19. In order to provide a longer promotional time period, retailers were financially driven to reduce how high they discounted products
Further, with the expected increase of online orders, free shipping offers often required thresholds. 1/3 of the retailers offering free shipping required a minimum purchase; often around $50
Last year, more retailers shifted to a percentage reduction on specific styles or items (moving away from an entire store promotion viewed in 2018), and many followed a similar strategy in 2020. Select items were offered on promotion, frequently with a range of percentage discounts across the site, depending on the product or category
While mass retailers continued doorbusters, especially earlier in the holiday selling period, specialty retailers backed down from this strategy, as they mitigated their risk of selling low margin items online and while knowing that a drive to store push may not be as successful this year as in the past
GWP, PWP and PLCC messaging were also very low this year. Alternative financing options, such as Klarna and Affirm, were reinforced in direct marketing more frequently than observed in previous years
Retailers used their direct marketing communications to remind customers of BOPIS and curbside options. Few, however, capitalized on this method of pickup with an associated promotion for selecting this option over shipping.
Information in this report include:
- Key takeaways from 2020
- Observations by brand
Download the full report, 2020 Black Friday Patterning, from ThompsonMarketingConsulting.com.
Umbrex is pleased to welcome Christophe De Greift with NEXUSQUANTS. Christophe De Greift has 15 years of experience in management consulting, part of it at The Boston Consulting Group and more recently running his own consulting firm focused on business analytics. Christophe has led 75+ projects in Latin America and Europe and has particular expertise in marketing analytics and supply chain analytics in sectors such as media, finance, logistics, consumer goods, energy and mining.
He lives in Lima, Peru with his wife and two young children and will keep exploring Peru with them, as soon as lockdown ends.
Christophe is happy to collaborate in transforming data into business value, both remotely and in Latin America or Europe.