Though the idea of skipping such a big sales day may seem contradictory to good business, the move could gain customer respect, believes Rod Robertson, managing partner of Briggs Capital, which assists businesses in financial matters, and author of Winning at Entrepreneurship.
“Retail is about taking bold stands, be it new product lines or on social issues,” says Robertson. “By shutting down on Black Friday, which is now an over baked sale-a-thon, small-business owners may be able to battle the hydra of big boxes and online competitors. This boycott of Black Friday could be a blessing if the small-business owner can take a stand and give shoppers an alternative solution.”
PR Potential
“For a small business, any news is good news,” Robertson says. “Taking on the giants and standing tall as entrepreneurs could attract a new admiring client base tired of rampant commercialism. By not running with the thundering herd and instead taking the high road, a retailer with a carefully planned marketing initiative can be seen as bold and contributing to a paradigm shift.”
Taking a values stand as REI has done can appeal to certain groups of consumers, notes Stacy DeBroff, founder & CEO of Influence Central.
“REI’s decision to remain closed on Black Friday focuses on the company’s values of getting outdoors and staying active. Increasingly, consumers, especially millennials, are aligning themselves with brands that remain closer to their personal values. We recently conducted a study of more than 1,000 millennial women and moms, as well as boomer and Gen X women, and found that millennial moms in particular look to connect with brands that they feel reflect their own lifestyle values—ones they see as honest, transparent and authentic.”
Making the Most of Bold Moves
If you decide to close down your business on Black Friday, you’ll want to make the most of the tactic, advises Olga Mizrahi, CEO of ohso! design and author of Sell Local, Think Global. “First, explain to your customers and the community why you are closing for the day and to what greater purpose. Think a lot about how your company defines success, and then be really clear about your success markers and what you’re doing to hit them. Also, capitalize on the PR that comes with doing something different. Have a hashtag for the occasion, create a buzz, take a stand and weave your ‘stunt’ into your company’s story.”
Mizrahi also suggests featuring a “thank you” wall at your place of business with dry erase markers where customers and employees can leave public thanks to echo the sentiment of the closing. “Maybe they’ll tout their spending time with family or giving thanks to the community by participating in charitable events happening that day,” she says.
Aim for Lost Sales Recovery
“Taking a stand against Black Friday should not entail losing revenue,” Robertson says.
Mizrahi agrees. “Distribute branded thank-you notes to customers in-store and online that invite them in for a big sale on [Saturday],” she says.
Of course, Black Friday is so crucial to holiday sales that skipping it may be unlikely to catch on in a big way. “While brands’ core values increasingly resonate with consumers, it remains to be seen if other retailers will follow REI’s lead and make similar moves,” Debroff says.
If it works for your small business to close up on Black Friday, it might be worth a try. If nothing else, doing so may give you and your employees some much needed downtime before the holiday season rush.
Read more articles about customer engagement.
