Commenting on the forthcoming Black Friday, Rupert Eastell, RSM’s Head of Retail, said:
‘Black Friday is still a relatively new concept to UK consumers, and I expect that this year we’ll see the results of better planning by retailers. I think the winners here will be those retailers that have adapted and learned important lessons from last year, and will use the event as an opportunity to create engagement between new and existing customers. Consumers are already in the shopping mindset at this time of year, and so retailers should be using special offers to lure consumers through the door or focus them on a seasonal event.
‘What strikes me as interesting is that several High Street names have refused to take part in Black Friday this year. Whilst these retailers have the scale and deepest pockets and can afford not to be part of the event, I think in the future we’ll see more of the larger retailers quietly opting out. This runs parallel with what has occurred in the US where gradually the impact of Black Friday has lessened to the point where the discounting is prevalent throughout the year, and as a result, Black Friday has become almost a non-event. By contrast, midsize retail businesses will continue to use Black Friday to open themselves up to new opportunities and engage with a new client base.’