Black Friday is often heralded as being the “sale of all sales” and with predictions that in the UK alone shoppers could spend an estimated £10bn on the 23rd November, should we all be jumping on the Black Friday marketing band-wagon?
When it comes to sustainability, many believe Black Friday to be a perfect example of how the fashion industry, in particular, is producing “too much stuff,” hence the ability to heavily discount in certain areas.
In this post we look at just what Black Friday means for high-end fashion brands and if there is a place for sustainable fashion brands too, where pieces are produced on demand rather than mass production.
Are you in, or are you out?
It’s a hard question to answer. However, there are a few key questions to ask yourself before making the decision: –
- Think of your emotive ties and the story behind your pieces. Would this be affected if you discounted stock and certain pieces?
- Are you prepared to find yourself amongst potential discounting wars and is this a place where you can afford your brand to be?
- Do you need to discount at all?
The last point for us is the most interesting, and a fashion brand who famously never discounts is, Louis Vuitton. No sales, no mark-downs, not ever – a very strong-minded brand to be able to stand by this decision, but as a brand which is one of the ten most powerful in the world, as well as being worth an estimated $19 billion, we guess it has the right to opt out of Black Friday deals!
When it comes to individual brand pieces, you will also never find the iconic Chanel Classic Boy Bag in a Black Friday Sale, or Burberry’s London Classic Trench Coat. However, the difference between these and Louis Vuitton is that these brands do make sales on last season items and stock, so all is not entirely lost if you are a shopper looking for a great designer bargain!
If you are going to take part, think differently
Black Friday doesn’t always have to be about who can offer the most significant discounts on the most amount of goods. That’s not the way in which sustainable fashion brands work.
Instead think carefully about your campaign and how you want to position yourself, remembering who your target market is, what you’ve built your brand to be, and how this resonates with your audience.
Consider options such as hosting in-store events or offering a glass of champagne while your customers shop (no we’re not suggesting you get your customer’s drunk, so they buy more) but it adds a touch of something, to you, to your brand.
It also doesn’t always have to focus in store, think about offering simple things such as free delivery, creating personalised and targeted communications, make people feel involved.
For those who want to focus on exclusivity look to reveal a sneak preview of your up and coming collections by invitation only, engaging with your audience and drawing them in.
We can’t escape Black Friday whether we want to or not; it captivates us.
For the fashion industry knowing your brand, your reputation and where you want to position yourself will depend on the route you take – however, being a part of the £10 billion worth of sales is a very high incentive to do something!
If you would like to find out more about brands, marketing and more, check out our Advice page online, or email us at firstname.lastname@example.org if you would like us to cover something that isn’t already on our site.