News

How do small businesses feel about Black Friday 2022? – Simply Business knowledge

Menu


Property types

Research and reports
Campaigns
Resources
3-minute read
Catriona Smith
9 November 2022
Independent retailers may be wondering how to approach November’s global sales day. Do customers expect it – and what are the alternatives?
Simply Business spoke to some small businesses to find out how they feel about Black Friday 2022, and how consumers can do their bit to support local shops.

Originating in the US, Black Friday is now a worldwide sales event that sees retailers offer products for a discounted price.
Deals can often be seen throughout the month of November though, and continue through to Cyber Monday.
Black Friday usually kickstarts people’s Christmas shopping and marks the beginning of a busy sales period for high street and online retailers.
Black Friday is always the day after the Thanksgiving holiday in the US. That means this year Black Friday falls on Friday, 25 November 2022.
As Thanksgiving is the fourth Thursday in November each year, Black Friday is always at the end of the month.
Cyber Monday 2022 is on 28 November.
Whether or not you decide to promote Black Friday deals for your small business depends on what feels right for you and your business strategy.
However there’s a growing movement against Black Friday with many retailers choosing not to take part.
One independent fashion shop in Surrey told us they don’t agree with Black Friday. Instead they said: “I keep my prices fair all year round and offer sales when I need to move stock on.”
Another small business owner, Ben, agrees: “We don’t do Black Friday as we believe it pressures people into buying stuff they don’t need, which harms their bank balance as well as the planet.”
Donating profits, shutting down websites, and planting trees are other ways independent retailers boycotted Black Friday in 2021, according to a report in the Guardian.
Catherine at Cloud Cloth, a skincare cloth brand, said she intends to close the website on Black Friday and take the day off.
“We introduce a discount after [Black Friday] that lasts until Christmas, so customers aren’t under pressure,” she said.
It’s not just small businesses pushing back on the annual sales event. Some larger retailers have previously avoided participating in Black Friday, including M&S and Next. They say this is because of concerns that consumers don’t see value for money.
The idea that some deals aren’t always as good as they seem is backed up by research from Which? last year. Their investigation found that 99.5 per cent of the Black Friday discounts advertised in 2021 were the same price or cheaper at other times of the year.
Colour Friday is a campaign launched by notonthehighstreet founder Holly Tucker in 2021 to promote independent retailers. Looking to reclaim the Black Friday date, Colour Friday is a call to arms for people to shop local on 25 November 2022, and appreciate the colour and creativity of small businesses all year.
Emily Beaver, independent designer and maker, said: “I am a firm ‘Colour Friday’ small biz supporter. It’s a movement and it’s happening. I don’t ever offer sales or feel pressured.
“I am a designer maker, and I know that my prices are what they need to be to run my small business.”

Here are a few things independent retailers can do instead of supporting Black Friday:
Read more ways to support local businesses.
The cost of living crisis could mean that consumers are willing to spend less this Black Friday.
However, Business Insider reports that three-quarters of Gen Z plan to spend money during the sales event this year.
Independent businesses are faced with the challenge of keeping costs attractive as their own business running costs soar.
Tracey, owner of small furniture shop, Reloved, said: “The cost of living does also have a part to play in whether I participate in Black Friday sales.
“As a small business we need to keep the prices reasonable all year round so that it keeps people returning to us. We don’t have the luxury of overcharging and still getting the customers to return like the retail giants do.”
How do you feel about Black Friday? Let us know in the comments.
With Simply Business you can build a single self employed insurance policy combining the covers that are relevant to you. Whether it's public liability insurance, professional indemnity or whatever else you need, we'll run you a quick quote online, and let you decide if we're a good fit.

We create this content for general information purposes and it should not be taken as advice. Always take professional advice. .css-1ohoydv{color:#262626;-webkit-text-decoration:underline;text-decoration:underline;cursor:pointer;color:#007478;-webkit-text-decoration:underline;text-decoration:underline;}.css-1ohoydv:hover{color:#007478;-webkit-text-decoration:underline;text-decoration:underline;}Read our full disclaimer
Find this article useful? Spread the word.
Keep up to date with Simply Business. Subscribe to our monthly newsletter and follow us on social media.
6th Floor.css-mfz5zy{display:block;height:10px;}99 Gresham StreetLondonEC2V 7NG
Sol House29 St Katherine's StreetNorthamptonNN1 2QZ
© Copyright 2022 Simply Business. All Rights Reserved. Simply Business is a trading name of Xbridge Limited which is authorised and regulated by the Financial Conduct Authority (Financial Services Registration No: 313348). Xbridge Limited (No: 3967717) has its registered office at 6th Floor, 99 Gresham Street, London, EC2V 7NG.

source

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button