Black Friday has become an integral part of the South African retail calendar. With consumers rushing to find the biggest and best deals, many retailers view the event as a race to the bottom.
So, with an eye on extracting the most value from Black Friday campaigns, there are a few things retailers can do to learn the right lessons and improve year on year.This should happen immediately after Black Friday. By starting the performance analysis as soon as possible, the retailer ensures that any changes that need to be made to supply chain, marketing and advertising can take place well ahead of the next Black Friday.
A strong data partner will help the retailer arrive at the shortlist based on a weighted distribution index that considers the diverse nature of the retailer’s customer base. It is important that the retailer engages in a transparent negotiation process with its suppliers. Accurate data insights are crucial as they provide both parties with a comprehensive view of the market.