1. Know your audience
Last year, shoppers in the UK spent an average of £275 across Black Friday and Cyber Monday, but this doesn’t quite tell the full story. 54% of Gen Z and 48% of Millenials are planning to spend money on Black Friday, whilst only 35% of Gen X’ers and 15% of Baby Boomers share those plans. However, amongst the generational groups, Gen X will spend the most: £339, compared to just £175 for Gen Z[1].
This kind of audience data is invaluable when building your Black Friday strategy, especially when combined with your own business metrics. If you know that the majority of your customers are Millennials for example, then a big Black Friday campaign on social media could well be worth the effort. If you do most of your business in person, or with older generations, then perhaps a more low-key approach to this sales period will actually work better. Either way, the first step to a successful Black Friday is to work out exactly who you’re going to be targeting and how you’re going to do it.
