I love me some Black Friday. And as you know from my blog last week, I think there’s a lot that every show out there and our industry as a whole can do to reap bigger rewards on these mammoth marketing blitzes. (I do wonder how we did this Black Fri and Cyber Mon compared to all the other Fris and Mons of the year – my bet is that it’s not that much different, but would certainly love to be wrong.)
But over the past several years, Black Friday has been rolling back to Thursday. And Cyber Monday was born. And then Small Business Saturday entered the fray. And some stores, like Kmart, introduced Black Friday sales all month long (no doubt to try and steal some shoppers from the other ‘mart that is preceded by a Wal).
And sure, it’s working.
US shoppers spent a super-size $59.1 billion buckowskis this Thanksgiving weekend (each shopper spent an average of $423), which is up more than 13% over last year’s tally. And Cyber Monday was up over 30% from last year.
Yep. It’s definitely working.
Which may be a problem.
The trouble with the expansion of these types of sales is that they often do work. They infuse balance sheets and p/l statements with cash for the short term (and for retailers, it comes at the end of a lot of fiscal years, which is exactly when they need it).
But what happens is that marketers get addicted to the immediate results and say, “Let’s just do more of it! Add another day! Extend the sales period! Just do more of the same! How about Tag Sale Tuesday? Or Whatever-You-Want-To-Pay Wednesday! ”
And thus we end up discounting all year long. And if we don’t? Well, our customers just get peeved because we’ve trained them to expect it, want it . . . and feel entitled to it.
Sales are like steroid shots. Sometimes you need them. And in today’s current consumer climate, we often need them a lot. I’m not disputing that.
But when they work, don’t think about how you can do more of the same. Think about how you can increase full price sales or premium sales to balance out the discounting that you have to do.
(Got a comment? I love ‘em, so comment below! Click here then scroll down to say what’s on your mind!)
– Broadway Investing 101 Seminar coming up on 12/8. Register today.
– Win a free ticket to my reading of Somewhere in Time! Click here to enter.
– See Schooled, the final installment of the DTE Reading Series. Click here to RSVP.
SIGN UP TODAY
Ken’s Current Shows
MOST POPULAR BLOG POSTS
CATEGORIES10 Qs for Broadway Pros
Fun on a Friday
Invest in Broadway Shows
Overheard At Angus
Questions From Readers
The Most Popular Posts of the Month
Theater Things That Don't Make Sense
Things To See
Upcoming SeminarsMay17Sat11:00 am How To Raise Money for your Show @ DTE StudioHow To Raise Money for your Show @ DTE StudioMay 17 @ 11:00 am – 5:00 pmTo view alternate dates for “How to Raise Money for Your Show” Click Here. Ever since I started teaching my Get Your Show Off The Ground and Broadway Investing [...]Jun16Mon7:00 pm How to Nail Your Audition Workshop @ The Davenport StudiosHow to Nail Your Audition Workshop @ The Davenport StudiosJun 16 @ 7:00 pm – 9:00 pmTo view alternate dates for the “How to Nail Your Audition Workshop″ click here. Do you want to improve your chances of getting your dream role? [...]Jun21SatAug16Sat11:00 am How To Raise Money for your Show @ DTE StudioHow To Raise Money for your Show @ DTE StudioAug 16 @ 11:00 am – 5:00 pmTo view alternate dates for “How to Raise Money for Your Show” Click Here. Ever since I started teaching my Get Your Show Off The Ground and Broadway Investing [...]
Ken’s Top 5 Reads
Purple Cow: Transform Your Business...
The Writers Journey: Mythic Structure for Writers