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3 Things Retailers Need To Do To Prepare For The Bleakest Black Friday To Date [Video]

The annual sales extravaganza comes as rising inflation and a cost of living crisis hit consumer spending. As part of our Evolution of E-commerce Deep Dive, strategist Matt Rhodes offers advice on how retailers can cut through.

Black Friday 2022 looks bleak: a recession as long as the financial crisis of 2008, inflation at a 42-year high and an energy bill crisis the scale of the pandemic. YouGov research from August 2022 tells us that 74% of people in the UK expect to have to reduce spending, with 24% expecting to have to cut back on essentials.

The life of many consumers will be difficult, but the data only hints at the complexity of the behavioral changes that will follow.

Yes many, perhaps most, will have less cash to spend. Some will not be able to spend beyond the essentials, but for others, having less cash to spend will mean making more conscious choices when they do have to …

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