Ask a consumer psychologist about the factors that drive Black Friday and you’ll likely hear about urgency, anticipation, and the shopping experience.
Urgency – Stores' short, special sale hours, promotions, limited supplies and real, artificial or implied scarcity driving consumer feelings of “get it now” or “miss out on today and you’ll be sorry."
Anticipation – Store strategies that have consumers looking forward to and planning Black Friday visits, in effect making time-specific appointments with shoppers and promising pay offs big enough to change their habits.
Shopping Mood/Experience – Smart retailers knows that Black Friday shopping is emotional and "part of an energized movement.” They may subscribe to the convergence theory of like-minded people gathering for a common goal or to a self-feeding theory on crowds, but ultimately stores that hat engage their customers through multiple channels and provide a strong shopping experience will compete at a different level than those that simply conduct transactions.
Thursday of course is the day most stations focus on.
But what if each component on our station was an individual brick and mortar store whose success or failure was largely driven by urgency, anticipation and mood?
How would we have done on Black Friday?
Formats with the Most Momentum Entering 2019 – Plus One Hack to Help You Prosper - Two years ago we started a new annual post: “Formats With the Most Momentum Going into the New Year.” We use Nielsen’s Tops of 2018: Radio report for the...
1 week ago