In the fast-paced world of commerce, Black Friday is a significant annual event. This Friday following the United States Thanksgiving holiday is characterized by doorbuster deals and frenzied crowds. Over the years, Black Friday evolved into a global shopping extravaganza where businesses aim to boost sales, and consumers eagerly seek bargains.
Marked by massive discounts and shopping fervor, the Black Friday phenomenon presents challenges and opportunities for business owners. Typically, retailers’ bottom line moves from red during the Black Friday weekend. Cyber Monday is intimately tied to Black Friday and occurs the following Monday. Although most consumers are working that day, online sales still rival brick-and-mortar sales. For Apostolic entrepreneurs, balancing the demands of this consumer-driven tradition with faith-based principles requires thoughtful consideration of the following topics.
Align Black Friday Participation with Apostolic Value
As Apostolic business owners, reflecting on core values is crucial. While participating in Black Friday sales can stimulate revenue, it’s equally important to align business practices with the principles of honesty, integrity, and fairness. Take time to evaluate how your participation in Black Friday aligns with your faith and values.
Balance Profitability and Ethical Practices
While offering discounts is a standard practice during Black Friday, it’s essential to strike a balance between profitability and ethical business practices. Consider the importance of fair prices, transparent communication, and quality products/services. Avoid practices that compromise honesty for short-term gains. Perhaps Cyber Monday is the real opportunity for your business. Ask yourself:
Can my business create better balance by shifting sales focus to Cyber Monday?
What creative ideas allow us to offer a different Black Friday experience?
Does our business encourage people to waste time chasing sales? What would occur if we offered sales during a limited, specific timeframe separate from the Black Friday timeframe?
Manage Employee Well-being
Employees feel the strain and intensity of Black Friday. Prioritize their well-being by implementing strategies to manage increased workloads. Encourage breaks, establish clear communication channels, and express gratitude for their dedication during this demanding time. Consider participating in Cyber Monday instead of Black Friday and allow your employees to spend time with the family.
Integrate Your Faith with Business Practice
Use Black Friday to integrate your faith and business practices. Consider opportunities that promote gratitude, generosity, and community engagement. Perhaps your business can donate a percentage of Black Friday sales to a charity or initiate a community-oriented event that reflects how faith is lived out locally.
Adapt to Online Trends
Black Friday online shopping is a prominent trend. Apostolic business owners should leverage online platforms to reach a broader audience while maintaining a strong online presence reflecting their faith-based values.
Maintain a Holistic Approach
Approach Black Friday as more than a sales event. Consider how your business can positively impact customers and the community. Perhaps this involves exceptional customer service, an emphasis on gratitude, or incorporating elements of mindfulness into your marketing strategies.
Black Friday represents a complex intersection of consumerism and commerce. For Apostolic business owners, navigating this phenomenon requires a delicate balance between financial objectives and adherence to faith-based principles. Apostolic entrepreneurs can participate in Black Friday with a mindful and purposeful perspective. What impact will you make by approaching Black Friday and Cyber Monday differently this year
By Bryan Bootka, Fractional VP of Sales and a member of the ACoC Marketing Team