How fashion brands turned
Cyber Weekend into a win
Here’s how the fashion industry tackled Black Friday weekend
Last week, all the hype was around Black Friday. Ever since the American phenomenon went international and omnichannel, it’s fast becoming a headline feature on fashion brands’ promotional calendars. Shoppers all around the world were excited to do some shopping during the four-day extravaganza. Therefore, a lot was at stake for fashion brands to fight the competition both online and offline. This is how they tackled Cyber Weekend.
Digitally savvy brands throve
Interesting to see is that the more digitally savvy a brand is, the likelier it is it takes part in the Black Friday campaign. Although a lot of high-end luxury brands are not keen on discounting their items to keep their image of exclusivity up, the ones who did managed to increase online sales with approximately 24 percent.*
Long gone are the days when there was a clear line between Black Friday and its online equivalent a couple of days later, Cyber Monday. Shoppers want to avoid the madness in physical stores and are checking the deals on their smartphone, tablet or desktop. Especially that first category is a trend to watch. Popular brands like Levi’s and Superdry, who are targeting a slightly younger audience, are competing heavily in the war on the attention to reach millennials. Not only did those brands announce their Black Friday offers, which they often give a more attractive name like Indigo Friday (Levi’s) or Win Big Week (Nike), a few days in advance, they are also stepping up their social media game to promote their products and deals through both organic and paid reach.
Whereas multi brand stores displayed discount prices up to 75 percent, individual brand stores were more careful. That sounds logical, since the brand image plays a bigger role for them.
Discounts of about 20 - 30 percent
Although we’ve seen deals and discounts in literally 100 different shapes and sizes, we can say that in general, most online fashion stores offered a discount on the entire range of 20 or 30 percent. This percentage is a good pick, since survey shows that two-thirds of millennials say they are willing to switch brands when offered a discount of 30 percent or more.** The discount strategy between the individual brand sites and the multi brand stores differed though. These last ones displayed discount prices up to 75 percent, whereas the brand stores were more careful. That sounds logical, since the brand image plays a bigger role for them.