Consumers spent an average of $407.02 from Thursday, November 28 to December 1, 2103, down from $423.55 during the same period in 2012 (source: NRF). Black Friday (or Thursday) saw the first year-over-year decline since 2009. In short, the promotional event starting the holiday shopping season was a failure (source: Time). Not only did the promotional activity not produce additional sales, it may have reduced overall sales dollars by over-promoting.
In addition to the overall promotional activity, the increasing growth in on-line shopping created more uncertainty around customer behavior and price sensitivity. The high-growth online channel has an effect on promotions through the bricks and mortar channel, but no one has yet figured out exactly how impactful that effect is. While Black Friday was moved forward into Thanksgiving Day, the Cyber Monday deals extended into Tuesday. Nowhere
Published on Nov 17, 2014
Winter is coming… but first comes Brand Quarterly’s lucky issue #13 :) That’s right - three years have flown by! And thanks to the support...