As Black Friday nears, we’re looking at the strategies big brands are making.
“It’s always a fight to the finish as we get through this season. My sensibility is that shoppers are going to go out there and spend like they always do: Load up their credit cards with things that they don’t need,” says Teri Agins, author of “Hijacking the Runway” (2014).
“Of course, retailers will come up with all kinds of gimmicks to get people shopping,” Agins says.
In the Black Friday sale game, Macy’s stands as a juggernaut, according to Agins. “They are the big Goliath and they really have a big footprint.”
The reason for this success? Millennials, a demographic not typically associated with department stores.
Macy’s is targeting 13- to 30-year-olds by teaming up with celebrities to draw shoppers into stores. Celebrity fragrances by Katy Perry, One Direction, Taylor Swift, and even Justin Bieber are offered in Macy’s stores around the country.
These celebrity collaborations are meant to create a buzz similar to that which surrounds fast-fashion, and that’s just to get people into the store. Even if the targeted millennials don’t buy the fragrance they walked in for, it’s likely they’ll buy something else.
This upcoming Black Friday will probably be like the ones in the past – long lines, doorbusters and big savings – but the crowd might turn out to be a little younger.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.