Bear with us for a moment as we flash back to Black Friday 2022 for a quick moment. That weekend was a very unique holiday for all retailers and told us a lot about how much the retail shopping experience has evolved in this post -COVID era. Consumers showed that they were more willing to get back to shopping in-store, which is great. But they’re coming back to in-person shopping with a higher degree of knowledge thanks to all the research they’re now more comfortable than ever doing online.
Data shows that consumers did significant research going into the actual Black Friday holiday weekend. While 52 percent of consumers said that they started shopping earlier this year, there were still plenty of transactions to be had. More importantly, thanks to all of that early research on where they wanted to visit, consumers visited stores but kept an open mind about what they wanted to buy.
52 percent of consumers said that they started shopping earlier this year
Let’s bring the attention down from the retail industry as a whole and focus in on what we learned about the independent channel specifically. How did Nationwide dealers compare to the industry information? Taking a dive into our PriMetrix data, Nationwide dealers saw a similar buying pattern as almost 25 percent of dealers’ sales for the month of November occurred between Black Friday and Cyber Monday. When you also look at pageviews on our Members websites, there was a significant increase in activity over the holiday weekend compared to the rest of the month.
What does this tell us? And why these two data points in particular?
We know that consumers are doing research online before coming into our stores. It’s imperative, as a local retailer in today’s environment, that your marketing efforts are tidied-up. You have to be telling a consistent and compelling message that translates from your digital ads into the in-store experience. Consumers are savvy today, and they’re decision to walk into your store is made long before they’ve even left the couch.
During the Black Friday promotional period we took a hard look at how all retailers were advertising appliances. Some retailers were more successful than others with telling their story, convincing consumers why they should buy from them. The top-performers utilized web banners and product pages clearly that concisely displayed buying options, savings opportunities and the delivery story. Those campaigns rose above the more generic stories that others used. All indications are that the retailers who delivered a clear and easy-to-digest message ultimately won the holiday.
If we take anything away from Black Friday, it’s that consumers are not just looking to shop at a store just because they have inventory. Rather, they want the best experience and to know that their dollars are being well spent. Dealers are going to need to fight for those consumers, and they can win that battle by telling a quality, consistent story online and in-store.