Businesses are looking at countering the “consumerism” of Black Friday.
This article states that this year is the tenth edition of Black Friday in the UK. It is not just one day anymore with Black Friday now being more of a “digital phenomenon” than a high street one.
There are brands who are trying to counter the “consumerism” of Black Friday. For example, Giffgaff, through its pop-up in London promotes refurbished phones to address the consumer need for new technology. On the other hand, North Face would donate £1 from every purchase made over Black Friday weekend to its Explore Fund.
Sale days such as Black Friday hurt retailers that struggle with sales and profit. Flash sales events cut into profit margin around the most profitable sales time of the year for such retailers.
[5 minute read]