5 Tips For Making the Most of Black Friday in 2021
The holiday season is officially upon us. Well not quite, but for brands and marketers the planning season certainly is. And it’s easy to see why: with global consumers spending 116.6 million hours shopping on Black Friday last year, a 20% year-over-year increase, it’s crucial for brands to win customer attention and make the most of the shopping season in 2021.
But it’s easier said than done, especially after 18 months of pandemic-fuelled changes to the way we interact, consume content, and - most importantly - spend our money. Whether it’s an increased need for connection and community, a shift to online shopping over the in-person retail experience, or the rise in social commerce, there’s plenty to consider for this year’s holiday season strategy.
So how do brands make the most of Black Friday in 2021? Here are 5 of our top tips:
1. Start early
Black Friday is always one of the most important dates in the marketing calendar, but the days leading up to it are where your brand should be looking this year. According to Adobe, discounts and promotions starting as early as late October lead to consumers spending more earlier in the holiday season. And this demand for early deals is likely to be even greater than usual this year thanks to “pent-up demand” following the pandemic. Retail sales are expected to grow between 10.5% and 13.5% in 2021 as the economy accelerates and the holiday shopping season is expected to play a huge part in that, meaning brands “should feel a sense of urgency to adjust to changing consumer behaviour.”
2. Target young people
If you’re not already targeting them then you probably should be - not only because they’re the next generation of your audience, but because of their rapidly growing spending power. According to Drapers, Gen Z accounts for 40% of global consumers, and Millennials (25-40 year olds) are now the largest living adult demographic: that’s a huge proportion of the population your brand needs to gain access to.
Recent research by McKinsey found that higher income Millennials intend to spend the most of any demographic in terms of splurging or treating themselves this year. And not only are young people looking to spend more; they’re again looking to spend earlier in the year. Research by Student Beans found that 17% of 16-24 year olds are planning on looking for Black Friday and Cyber Week deals as early as 27th October. Looking ahead to Christmas, 89% of Gen Z shoppers will have already started shopping for the holidays by the end of November, so the weeks leading up to Black Friday are absolutely crucial for brands looking to sell to this demographic.
3. Consider the personal(ised) touch
People aren’t just looking to spend more this year; they’re eager to reconnect with others while doing so. According to Facebook, this need for reconnection is driving a desire for more thoughtful spending for the holidays, like “bigger, better back-to-school wardrobes, home improvements for backyard barbecues and the like.” For brands that means showing your audience how your product or service can help them achieve this reconnection, and connecting with them on an ever more personal level.
One great way to do this would be to get your brand on TikTok. TikTok is an ideal platform for reaching both Gen Z and Millennial audiences in particular, and has become a great place for brands to showcase their personality and authenticity. Try engaging in trends such as the popular #PackingOrders hashtag, where businesses show the process of packing individual customers’ orders, taking their audience along personalised consumer journeys.
“It’s not just the personal touch that’s appealing more to consumers this year: it’s the personalised one.”
And it’s not just the personal touch customers are demanding, but the personalised one. Personalisation of products is a key consumer buying trend for 2021, with 73% of 16-24 year olds saying they are likely to buy personalised gifts this year and 44% listing gifts with personalisation as a top priority when shopping during Cyber Week.
One way your brand could do this is to sell on Etsy. More and more consumers head to sites like Etsy for that personal touch when buying gifts, and it’s a great place to offer personalisation options, bundle items into gift packages, and appeal to buyers looking for specific holidays like Halloween, Christmas, Valentine’s Day, Mother’s Day, and more.
4. Think about what you stand for
We know that consumers are becoming increasingly concerned with ensuring their values match the values of the brands they buy from. Does that mean your brand should be participating in every online movement and speaking out on every social issue in the news? Probably not. What it does mean is that you should get clear on what exactly it is you stand for and implement that ethos into everything you do, both internally and externally.
“67% of people would go as far as to avoid buying from certain brands based on their stance on political or social issues. ”
One key consumer buying concern in 2021 is sustainability, particularly among Gen Z shoppers. In a study by Student Beans, 44% of 16-25 year olds listed sustainability as a top priority when making purchases this Black Friday and Cyber Week, with 95% saying it’s important that a brand cares about protecting the environment. Communicating values like sustainability, inclusivity and accessibility are key to appealing to consumers this Black Friday and holiday season.
A graph showing the importance of a pro-equality and pro-diversity ethos in brands from Drapers’ Gen Z and Millennials 2020 Report.
5. Diversify and optimise your online strategy
Though inevitable that online shopping saw a boom in the face of the pandemic, eCommerce sales have continued to experience unmatched growth even after in-person shops opened back up. According to McKinsey, online penetration remains around 35% above pre-Covid levels and eCommerce has seen more than 40% growth over the past 12 months. Even people who had never previously shopped online before together spent 163% more online in 2021 than the eCommerce newcomer class of 2019. And this presents huge opportunities for brands big and small.
“More than 1 in 3 Gen Z shoppers say they will shop exclusively online during Black Friday, with 51% saying they’ll mix both in-store and online shopping.”
That’s not to say that the in-person shopping experience should be ignored; more than half of young people still say they’ll mix both in-store and online shopping this Black Friday. However, the importance of diversifying and optimising the online experience for shoppers is crucial to making the most of the holiday season this year. That means increasing the number of ways shoppers can discover your brand and ensuring the shopping experience is smooth and effective when they do come to buy.
Here are some top tips on how to do this:
Make the most of social commerce: From Instagram Shops to TikTok’s partnership with Shopify, the social media platforms are now making it easier than ever before to sell products natively, allowing you to meet your customers where they already are.
Use influencers: 27% of young people go to influencer recommendations to discover new brands and products, but the power of influencers goes further than just sales. Influencers help to reinforce the ideologies and personality of your brand, build trust and authenticity, and enforce a sense of community and loyalty that can rarely be achieved through other means.
Utilise your mailing list: Emails from brands are still used by 43% of 16-25 year olds and 74% of Baby Boomers think email is the most personal channel to communicate with brands. As much as it’s important to explore the shiny new features and trends, some of the old tricks are still reliable and worth sticking to this Black Friday.
Optimise for mobile buying: Not only are more shoppers buying directly on social media platforms, but they’re also shopping on mobile devices. According to Shopify, 69% of its merchants’ sales on Black Friday last year were made on mobile, and around 3 in 4 Gen Z consumers shop using retailer mobile apps. That means - if it isn’t already - optimising your website for mobile buying should be a priority for your brand.
A graph showing the percentage of Gen Z and Millennials who shop using fashion brand or retailer mobile apps, from Drapers’ Gen Z and Millennials 2020 Report.
key takeaways
Think about offering deals and discounts before Black Friday; your holiay season marketing could start as early as the end of October for maximum reach and sales.
Gen Z and Millennials now hold a huge amount of spending power and are planning on using it this holiday season. If you’re not already, make sure you’re tapping into these younger demographics.
Consider how you can make your products and Black Friday deals more personal and if you can offer personalisation options, as this is a key buying trend for Black Friday in 2021.
Think about what your brand stands for and start implementing these key values throughout your internal and external communications.
Diversify the ways in which you’re reaching your audience online in order to communicate with them, not to them. Specifically look at working with influencers, optimising your services for mobile, and utilising social commerce features.
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