On the third last Friday of November Americans celebrate a shopping phenomenon called Black Friday. Over the years Black Friday has spread to other countries such as the UK and last year in South Africa it was introduced in large supermarket chain stores. Consumers went crazy for bargains and the crowds at some outlets was overwhelming with shoppers scared of entering into the fray. But those who couldn’t resist a bargain came away with some great specials.
The popularity of Black Friday and other special promotions shows just how hungry consumers are for buying product at knocked-down prices. Many will buy as many of the bargains as possible. They work themselves into a buying frenzy and it’s understandable because we don’t often see such deep price cuts. Continue reading “How do you take advantage of customers’ frenzy for bargains in your small business?”