Originally conceived as a means of kick-starting spending in the USA after Thanksgiving; Black Friday now seems to encompass a week or more of shopping enticements. However, amidst warnings from consumer groups that some ‘bargains’ may not be all they seem, and with some retail analysts suggesting that heavy pre-Christmas discounting may not be in the long-term best interests of companies, is it time for a new approach?
Certainly there are some retail chains which have stepped back from participating in Black Friday, saying they prefer to promote good deals on a year-round basis. And whilst we are not discounting the idea of Black Friday as one element of a viable business model, isn’t delivering year-round customer excellence the ideal strategy for all businesses?
Our customers are the lifeblood of our businesses. Creating products and services which meet customer needs and delivering them at a fair price and with attention to customer outcomes can help to build customer loyalty and longevity as well as a positive customer reputation which will in turn attract new business. In other words, delivering customer excellence turns every day into Black Friday, creating a win-win scenario for customers and businesses alike.