Black Friday is a hotly anticipated day for North American and European shoppers, providing the promise of huge discounts on every kind of commodity imaginable, from jewelry to cars to vacation packages and beyond. Electronics might be one of the biggest categories for shoppers at this critical time for retailers; not only are the discounts enticing for anyone on the market for items such as dishwashers or sound systems, but electronics are frequently found under the Christmas tree as gifts and this is the perfect time to stock up in anticipation of the holidays.
Retailers in Ireland are more than savvy about how to handle the opportunities presented by Black Friday. One retailer, DID Electrical, is providing unheard of discounts not only for this special shopping day but also to celebrate their fiftieth year in business. What a clever marketing move this is, as DID Electrical has managed to cut their advertising budget by getting coverage in periodicals as a news story. The headline of The Irish Sun calls out, “Irish electrical store slashes prices by up to 70% for Black Friday” and they certainly have, featuring deals like an LG 49” Flat LED TV for €479.99 down from the usual €799.99.
But DID Electrical isn’t alone in the extent to which it has embraced this tradition of luring shoppers with huge discounts. Over the last two years, over 91% of UK retailers offered discounts for both Black Friday and Cyber Monday. Currys, Debenhams, Harvey Norman, Sky, BT, John Lewis and others have radically cut prices, alongside worldwide retailers like Amazon.
It’s easy for huge retailers like the ones listed above to offer wild price slashing as their margins not only allow for what could amount to a loss, but the discounts act as marketing and advertising for them. Small businesses, on the other hand, don’t have that luxury. What are small local businesses in Ireland to do in the face of the competition provided by retail behemoths? The solution comes in the form of GreenFriday. Why do this? As reported in thejournal.ie, Labour’s Jan O’Sullivan opines, “Local stores add to the character and the economy of towns and cities.”
But what of DID Electrical? Are they the only game in town for huge discounts in electronics for Irish shoppers? Certainly not. Vodaphone is providing up to 50% discounts on smart phones and V-watches. Curry’s has leapt into the fray with equally humongous price drops on laptops, TVs, and tablets, such as the Fire7 Tablet from Amazon. If you’re a gamer or looking to shop for one, Argos has you covered with all things Xbox.
But how did this trend of crazy discounts begin? If the whole idea of Black Friday has you scratching your head a bit, you’re probably not alone. The American tradition of retailers slashing prices to move merchandise before Christmas wasn’t taken up in Ireland until 2014. And why should it have been, considering that Black Friday is only on a Friday to follow up American Thanksgiving, which occurs on the last Thursday in November? Retailers would argue, why shouldn’t it be? New traditions can be embraced all the time, and if the opportunity to increase sales by as much as 40%, as Currys PC World did in 2017 is in the offing, retailers would be foolish to give up the opportunity.
Who knows if Black Friday will retain its new-found popularity. The lines and crazy fights breaking out in stores over deals might just be too much for Irish shoppers. DID Electronics can probably provide some insight, as they’ve got fifty years of local commerce under their belts and the happy customers to prove it. Do they need Black Friday to get by? Probably not, but who can resist “Irish electrical store slashes prices by up to 70% for Black Friday” when they read it in the paper? Not us.
Others, including leading options for Warrington electrical supplies , will have been watching and considering this sale strategy with much fascination.