We have all heard of Black Friday, it is a time when the value of merchandise decreases greatly in an effort to bring in consumers. Though before, Black Friday was just one day, in recent years it has become a week or even a month. Traders are all in competition to start early in order to gain their customers and bring in the highest revenue.

Black Friday originated in the US with people who would wait for hours or even days to get the best deal and eventually the UK took the opportunity to also embrace this day. However, individuals in the UK are far more reserved and the best earnings for retailers within the UK are from online sales.

Now, how does Black Friday benefit business?

  1. Increase in traffic and trades

Individuals are looking for deals and discounts when it comes to making purchases, this allows a huge satisfaction within them as well as increased revenue for businesses. During Black Friday, not only are people shopping for the day they are also, most of the time doing their shopping for Christmas. This is an amazing opportunity for businesses to benefit from their customer’s demand as well as create traffic for their online retail sites.

  1. Gaining new customers

Attaining new customers generally can be quite difficult, however, Black Friday allows for retailers and businesses to gain individuals at an important part of the year. If you have customers during Black Friday then more often they will come back to you for Christmas as well as throughout the year. The day itself allows for organic consumer growth. If customers buy at discount rates and are content with what they have, they will buy for the full value later.

  1. Incremental sales

Individuals have the intent to buy during Black Friday weekend and this shows with financial statistics in increased sales. When those who purchase online looking for the best deals, they will still buy full price as they are subconsciously thinking they are saving elsewhere.

So, use this promotion consciously whether you are selling or buying to increase your capital or your assets.