By: Michael Bennett, Managing Director, ESG
Black Friday (29th November) and Cyber Monday (2nd December) are looming. In years gone by shoppers would have been eagerly anticipating pre-Christmas bargains while retailers enjoyed a sales boost. But the annual sight of people queuing outside shops at 5am will probably be absent this year.
As we become a nation of more conscious consumers, is this the end of Black Friday as we know it?
A pre-Christmas sales boost
Black Friday, a retail tradition imported from the United States and held the day after Thanksgiving, has become a key driver in the UK’s November spending, amounting to an estimated £3 billion. It also serves as the kick-off to the holiday shopping season, accompanied by Cyber Monday, often resulting in increased consumer purchases driven by steep discounts.
But a recent survey has revealed that 14.5 million UK residents, or 27% of adults, would be willing to “boycott” Black Friday, with many expressing growing concerns over the environmental impact of the annual shopping event.
The research conducted by environmental charity Keep Britain Tidy found that 16.6 million people, around 31% of the adult population, said they “hate” Black Friday, and the majority of respondents felt it encourages excessive consumption.
The data also revealed financial concerns around Black Friday spending, with 58% of those who made a purchase reporting they borrowed on credit, and a further 8% admitting they ultimately did not need the item.
Boycotting Black Friday
In response, Keep Britain Tidy has launched its Buy Nothing New Month campaign, urging consumers to resist Black Friday’s allure and consider eco-friendly alternatives throughout November. They are among a growing band of organisations and brands boycotting the event in favour of demonstrating their sustainability credentials.
The fact is that indulging our insatiable need to get our hands on the latest iPhone or a half-price designer handbag just doesn’t fit with the image some brands have built for themselves. For such brands, the options are:
Give in to the Black Friday phenomenon and enjoy a short-term cash injection, but risk their reputation and potentially lose loyal customers. Or,
Forgo the short-term gains in favour of turning a Black Friday boycott into a marketing strategy, boosting brand reputation and securing consumer loyalty.
Put in these terms, it’s easy to see why so many are re-thinking their Cyber Weekend strategy.
Who’s boycotting?
There’s a growing a trend for companies taking a stand on social and environmental issues, and Black Friday is the perfect opportunity to send a strong message about over-consumption. The list has been steadily growing for the last few years, but here are a few notable names from recent years:
Ethical womenswear brand Lucy & Yak has promoted the charitable Fior Di Loto Foundation instead of cutting prices for Black Friday since 2018. The foundation provides life-changing education for girls living in villages surrounding Pushkar, north-west India. In 2023 The Standard reported that: “This year, Lucy & Yak have created a limited-edition version of its twill dungaree, with all proceeds from its sales going to the foundation. The brand will not be putting items on sale.”.
In 2020 instead of discounting, sustainable trainer brand Allbirds is raised prices, asking customers to "break tradition, not the planet". Allbirds raised prices by £1 and matched them by £1. The difference was donated to climate change campaign ‘Fridays for Future’, led by Greta Thunberg. The brand closed all stores on Black Friday and offered complimentary workshops to customers to demonstrate the impact of their buying decisions.
Last year Currys launched its own Green Friday event, with the aim “to unite sustainability with immense deals". The electrical retailer offered discounts on more than 140 home appliances, all designed to reduce energy usage, thus lowering household energy bills. It also offers free in-store recycling for products brought in by shoppers and will collect and recycle old appliances when delivering new ones for a minimum of £15.
Swedish menswear brand Asket collaborated with fashion photographer Jonathan Daniel-Price on a photo series making a statement against the need for discounting. Asket co-founder August Bard Bringéus told Drapers magazine: “With these images we’re making a statement against a culture that encourages relentless buying, which is especially pertinent now ahead of Black Friday. Instead, we want to inspire people to focus on fewer but quality belongings that they can rely on year in, year out.”
In recent years in France, a collective of 200 brands has agreed to avoid any discounts on the day and instead donate 10% of their sales to non-profits. The campaign is called ‘Make Friday Green Again’.
What’s in it for them?
Firstly, it’s evidence of corporate responsibility. As we’ve discussed before, consumers want to engage with companies that ‘do good’. As a result, brands are not blind to the commercial and competitive edge to be gained from demonstrating social and environmental values.
The number of B Corps - companies which ‘commit to create a material positive impact on society and the environment through their operations – is testament to this recognition.
There are currently over 6000 Certified B Corporations in more than 80 countries and over 150 industries. It won’t surprise you to learn Allbirds is one of them.
Secondly, it’s a canny marketing strategy. By donating profits to a good cause, companies are simultaneously boosting their brand reputation and encouraging consumers to spend more, but for the right reasons.
Regardless of the number of brands or consumers boycotting this year, the mass move online that was one of the results of the COVID-19 epidemic, means it’s unlikely Black Friday will ever be quite the same again. It’s also true that consumers are becoming ever-more conscious of waste and may be less likely to partake in years to come.
So, whatever a brand’s stance on Black Friday, there may only be a limited number left to take advantage of.