Business Wars Why Black Friday Will Look Different This Year | 8
Nov 25, 2020
Madeline Stone, a retail correspondent at Business Insider, dives into the evolving landscape of Black Friday amid the pandemic. She discusses how shopping habits are shifting towards online platforms and the potential decline of traditional shopping events. Retailers are innovating their strategies to engage consumers safely, with some opting for outdoor promotions. The impact of these changes on holiday shopping trends and the increasing popularity of services like Amazon's 'Holiday Dash' are also explored, highlighting a new era for retail.
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Declining Relevance of Black Friday
- Black Friday's importance has diminished due to year-round discounts and the rise of online shopping.
- Shoppers now prioritize convenience over in-store doorbuster deals.
REI's OptOutside Campaign
- REI, an outdoor retailer, closes on Black Friday and encourages people to #OptOutside.
- This move challenges traditional retail practices by prioritizing experiences over sales.
Pandemic Impact on Holiday Shopping
- The pandemic is changing the holiday shopping landscape, with earlier promotions and extended deals.
- Retailers prioritize safety and flexibility, offering online buying, in-store or curbside pickup.