While Singles’ Day catches the eye of most luxury retailers rather than Black Friday deals, those that continue to skip the discount-focused day will miss out, as even affluent consumers still appreciate a good deal.
A new survey from Deloitte has shown that consumers are planning on spending more this Thanksgiving compared to last year, with more than 76 percent of Americans planning to shop over the Black Friday weekend. Many luxury brands are finally taking the leap to incorporate a strategy for the major sales day such as Prada, Omega and Gucci, who are partnering with Walmart.com to feature heavily discounted luxury goods online over the weekend.
“The vast majority of shoppers indicate they will head both online and to the stores over the Thanksgiving holiday weekend, and nowadays, they really look at those experiences as one,” said Rod Sides, vice chairman of Deloitte LLP and U.S. retail, wholesale and distribution leader. “While digital and physical tactics should work in concert, it’s critical that retailers’ digital influence fits specific purposes and shopping days this week.
“Before Thanksgiving, the experience should be informational and inspirational, to influence the consumer in the research phase,” he said. “Black Friday requires nimble and feature-rich mobile formats while people browse reviews and compare information at the point of purchase.
“Cyber Monday is purely transactional, where features like prices, free shipping and online return policies move into focus,” he said.
Black Friday, known for its jaw-dropping sales deals from retailers, is a holiday that has previously been side stepped by luxury brands and retailers. In the past, exclusives, deals and savings were not a strategy taken by many high-end retailers, but today’s retail environment is making it almost impossible for even the most coveted brands to stay away.
Source: TheTopTier.net Photo: Jimmy Choo via TheTopTier.net