Black Friday: Why It’s Good For All Businesses
For all of our American friends, let me start off by saying a belated happy Thanksgiving to you all! Thanksgiving being yesterday means today is one of the most important days for retailers in the US (and now in Canada), Black Friday. Traditionally the busiest shopping day of the year in the US, today is the day on which many businesses turn so much of a profit, that in a single day their profit margins for the year go out of the red (below profitable), and into the black (profitable). In one day. That’s quite a feat. Actually, that’s a bit too much of an understatement for my liking. That’s insane. A single day is all it takes for many businesses to go from losing money over the year, to making it. Even making a lot of it.
Clearly there’s a lesson to be learned here. A very simple lesson. In this part of the world, there is essentially a designated day on which people want to spend a truckload of money. People are practically flinging money out of their wallets with reckless abandon. Does this sound just a little like something all businesses, retail or otherwise, should be trying to take advantage of?
It does? Good. We’re on the same page then.
I’ve written posts before about sales and specials, and how important they are in bringing in new clients. That is more true today than on any other. With a good hook and a solid deal, you could easily take advantage of Black Friday Fever to increase your client base practically exponentially. Yes, you may take a small financial hit on a per client basis, but the increase in the number of clients will more than offset it, as long as you do it right. And once you’ve got them hooked in, all you have to do is keep them coming back, and voila! You’ve not only made a good amount of extra money, but you’ve earned some repeat business too, which as I’ve said in the past, is one of the keys to a successful business.
People tend to get a little crazy today. People get trampled. Even die. It’s almost like a switch flips and they go from normal human beings to zombies, but with a desire to spend money rather than…well, we all know what zombies like doing. While I don’t in any way, shape, or form condone the way people act on Black Friday (no one should ever die over a cheap television), that’s not the fault of the day itself. And the day itself, is a perfect opportunity for you to really raise your Personal Independent Earnings in a big way. It would be folly not to pursue it.
And to my American friends, please be careful, and courteous of other shoppers today. Thank you! See you all next week!