Savvy shoppers are waiting for good deals before they spend, making it tougher for retailers to opt out of the big sale but it can be lucrative if done right.
Jo Turner and Sarah Scott-Hunter, co-founders of premium activewear label LNDR, are holding a Black Friday sale this year: 30 per cent off everything for 30 days.But it’s a decision the LNDR founders have considered carefully and it’s an about-turn on the views they once held. “We used to do campaigns about how we didn’t do Black Friday,” Turner told this masthead.
In the four days between Black Friday and Cyber Monday, Australians are expected to spend a record high of $6.7 billion, a 5.5 per cent uptick on the year before. The extended shopping bonanza, which is now said to bebegan in the US in the 1970s following Thanksgiving celebrations. It was dubbed Black Friday as a way to bring ailing retailers ‘into the black’. Since tech giant Apple brought the sales period to Australia in 2013, it has been growing year on year.
“This is a smart move as it avoids deep discounting on best-selling products, which could lead to and leave retailers with less desirable inventory.” “A lot of brands we see especially in Australia ‘final sale’, or five different sales through November … and kind of create that crazy sense of frenzied urgency all the time,” said Turner.
“We’ve created a little range particularly for it. This exclusive collection is also made from excess fabric that would just otherwise go into landfill.”Perfectly good products with minor faults that would typically have been thrown out, like prints that are slightly blurry or produced at too large a scale, will be sold exclusively during Black Friday at a discount as ‘Snuggle Specials’.
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