November 19th, 2024
Should Small Businesses Participate in Black Friday?
If you own a small business, my answer is a resounding “yes, you absolutely should”.
I don’t want to misunderstand; I’m not a fan of Black Friday. I find it to be a troubling concept for numerous reasons.
In my view, it often promotes excessive consumption and diminishes the worth of quality items, while small enterprises struggle to offer substantial discounts as they are already finding it hard to generate satisfactory profits.
Each year, the so-called bargains seem more about large corporate chains unloading their inferior inventory or offering unrealistic deals, from my perspective.
Nowadays, it’s not limited to just one day, and some retailers and marketplaces start advertising Black Friday offers up to a month (or even two) in advance of the actual date. In 2024, Black Friday is on the 29th of November.
That said, it’s unfortunately not going anywhere. It has become a major retail sales event, making it regretful for small businesses not to engage with it, thereby missing out on a share of the sales revenue.
As with all promotions and specials, small businesses tend to provide genuine offers. They excel at it compared to larger corporations, often giving their customers a more valuable experience.
How Small Businesses Can Approach Black Friday
The secret to making Black Friday beneficial for both you and your customers lies in how you approach it. You might opt for a straightforward percentage discount across the board, if that suits your needs. Alternatively, you could be more inventive, allowing for greater benefits from discounting while also treating your wonderful customers to amazing deals.
One of the greatest advantages of being a small business is your ability to be nimble and creative. Unlike larger retailers, you can infuse a personal touch into your Black Friday campaigns.
Whether it’s a beautifully packaged surprise box, a themed collection of gifts, or a heartfelt thank-you note paired with a future discount in every order, these thoughtful touches elevate your offerings and encourage customers to return even after Black Friday has passed.
Innovative Black Friday Suggestions for Small Enterprises
Here are some creative ideas for you:
- Utilize the day to clear out underperforming stock; customers may not only purchase the discounted item but also add other products to their carts while shopping
- Boost sales by creating product bundles, like “buy 4 notebooks, get the 5th free”
- Create themed gift sets, offering a slight discount for bulk purchases
- Offer discounted mystery boxes. I fell for one of these last year and genuinely enjoyed the excitement of unboxing it; it felt very special. I ended up spending significantly more than I intended with that shop, benefiting them and me alike.
- Provide a current discount alongside a future one to encourage repeat visits
- Offer free shipping for the entire weekend
- Include a complimentary gift for every purchase exceeding a certain amount
- Enter everyone who shops during Black Friday weekend into a raffle for prizes
There are many imaginative ways to present Black Friday deals; I hope these suggestions inspire you.
Different Perspectives on Black Friday
If you’re still thinking, “there’s no way I’m participating in Black Friday,” allow me to offer another perspective. I prefer to view it as a way to reward loyal customers for choosing to shop with you. Does that frame it in a nicer light?
If you’re concerned that discounts may diminish your product value, consider positioning your offers as a reward rather than a price cut. For example, providing a complimentary gift or an exclusive bonus for purchases above a certain threshold can help you maintain your brand’s integrity while still joining in on the Black Friday excitement.
During the holiday season, capturing your customers’ budgets before anyone else is essential. What do I mean? People generally have a list of gifts they’re purchasing and a budget for each. Once a person has been checked off their list, they typically stop spending.
Black Friday often initiates this checklist process, so if small businesses don’t participate from the outset with imaginative offers, they risk being sidelined in the gift-buying rush on that day.
Advantages of Participating in Black Friday
Consider these benefits for small businesses that engage in Black Friday:
- Boosted Sales Volume: Capture the interest of shoppers actively looking for deals.
- Attracting New Customers: Draw in new clientele who might not have discovered you otherwise.
- Inventory Clearance: Clear out older or slow-moving products, improving storage and cash flow.
- Enhancing Brand Loyalty: Provide deals that appreciate your loyal customers, reinforcing their connection to your brand.
- Early Holiday Spending: Seize the opportunity as shoppers begin their gift lists early, ensuring inclusion in their holiday budget.
Opting Out
If Black Friday goes against your business ethos, feel free to sit it out—stick to your principles, no judgments here.
It’s vital to do what feels right for your business, and only you can determine that. But before you swiftly dismiss participating in what you might deem Black Friday nonsense, I encourage you to contemplate if there’s a way to act in favor of your business and your devoted customers.
It would be unfortunate to immediately withdraw just because, like me, you view Black Friday negatively.
It’s happening, and it’s massive, so don’t allow the faceless corporations to reap all the benefits; grab your slice of the pie.
…and In Closing, I Would Love Your Thoughts
What are your views on Black Friday for small enterprises?
Will you participate in Black Friday this year? Has my perspective influenced your thoughts on whether to take part or skip it?
Share your plans or uncertainties—I’m eager to hear how you’re handling this complicated yet fruitful retail occasion!
Comment on my Instagram post here or drop me an email at [email protected]. I’m looking forward to hearing your thoughts on Black Friday.
If you decide to participate, please check out my Instagram feed and share your offer on my Black Friday post, and I will promote it as best as I can.
Barbara
All views expressed in this blog post originate from me. At the time of writing, all referenced shops are members of my shopping directory. While I mention various shops, it’s essential for you to form your own judgment about whether their offerings suit you. Clicking on a shop link will direct you to their site, where their terms and conditions apply.
Tags: Christmas, Shop Talk
