Black Friday. For customers, the term conjures up images of slashed prices, stampedes, and brand new flatscreen TVs. For retailers, these two words may inspire feelings ranging from excitement to sheer terror. To help navigate such a hectic season, we used our market intelligence tool BrandGeek to take a look at 2016 Black Friday weekend data for a few different retail clients. Read on to see what we learned and get some tips on how to keep customers satisfied when tensions are high.
Let’s start by stating the obvious. There’s been a ton of speculation in recent days around what Amazon’s purchase of Whole Foods means for the grocery industry. One thing all observers can agree upon? The competitive grocery landscape is now far more complex than it was just last week. So let’s take a stab at making it simple again and focusing on the one thing you can execute more successfully than Amazon: finding what your customers like and delivering it better than anyone else.