How COVID-19 has Impacted Black Friday

How COVID-19 has Impacted Black Friday

You wake up at 3 am, prepare a large travel mug of coffee, and put on your most comfortable sneakers. You drive, half asleep, to your favorite department store and stand outside in the freezing cold before the store opens at 6am. Shoot, there is already a huge line. Have these people been standing here since they finished their turkey and pie the night before? Some of them even have tents! No problem, you have practiced for this moment. You memorized the store layout; you know exactly where the television is located and will not let anyone get in your way, even if you must “accidentally” bump someone out of the way. Nothing will stop you from saving 60% on a television. It’s Black Friday.

Retail Impact:

Black Friday has been a major revenue building day for retail brands since the 1980s. The name referenced “being in the black” after a year of “being in the red” with low profits. Like most marketing campaigns and sales tactics, Black Friday has evolved since the eighties. What was once a one-day sale at a few stores has expanded into a multi-day sale including Cyber Monday to drive online sales. According to the Commerce Department, “In 2019, shoppers spent more than $600 billion online, up nearly 15% from the previous year”. Online sales will be more crucial than ever this year since retail, as well as the hospitality and service industries, have taken a hit due to the COVID-19 pandemic.

As a result of strict social distancing rules, store capacity limitations, and health and safety concerns, in-person Black Friday deals will look different this year. According to a study conducted by Visa, “only 20% of U.S. consumers plan to do their shopping exclusively in-store, while nearly a third plan to do most of their shopping online”. Some large stores, like Target, Home Depot, and Best Buy will begin offering their “Black Friday” deals weeks in advance to limit crowds in their brick and mortar stores on Black Friday. Target recently announced another change to their in-store shopping model. They will now be offering a way to check if there is a line outside the Target store in your area. You can even reserve your spot in line and be notified when it is your turn to enter the store. Pivoting Black Friday deals to weeks long sales might not increase the overall revenue, but it will create a safer shopping experience during the COVID-19 pandemic. 

EPI Impact:

Here at EPI, we have four amazing Black Friday Packages for this year. We are changing course and offering a variety of Black Friday promotions for virtual events, membership upgrades, book offers, and access to amazing content libraries.

$1,500 – CEPA Masterclass + Beyond CEPA Package

CEPA Masterclass Registration

Upgraded 1 Year Owner Roundtable Library Membership

10 copies of Walking to Destiny by Chris Snider

Practice Launch Lite – Releasing later this year!

($4,100 Value)

$1,000 – Owner Education Content Package

1 Year access to Owner Roundtable Library content

10 copies of Walking to Destiny by Chris Snider

Practice Launch Lite – Releasing later this year!

($2,500 Value)

$52.00 – Missed the Bash? Get the Box! 2020 EPI Insiders Bash Box

Includes 6 of the tops reads for 2020 and Bash accessories.

Stories that Stick by: Kindra Hall

Willing Wisdom by: Tom Deans Ph.D.

The Reality of Change by: Fred Johnson

Poised for Exit by: Julie Keyes

Maximize Business Value by: Tom Bronson

Walking to Destiny by: Christopher Snider, CEPA

Mocktail and Recipe

Inaugural Bash Mug

 Pivoting Pasta Recipe

Value Prop

($130 Value)

$96.00 – Rapidly Maximize Business Value Book Bundle – $96.00

Seeking to help your business owner protect, build and accelerate value in 2021? Position yourself to help drive that process with some of the top value acceleration and exit planning books on the market today. The ValueMax Workbook allows the owner to work through their strategic value assessment in a detailed manner.

3 – ValueMax Workbooks for Owners

2 – The Master Plan by: Peter G. Christman

Mastering the Rockefeller Habits by: Verne Harnish

Poised for Exit by: Julie Keyes

Maximize Business Value by: Tom Bronson

Hard Copy of Walking to Destiny by: Christopher Snider, CEPA

Change the Outcome coffee mug

Value Prop

($240 Value)

Do you want to be the first to receive our Black Friday Packages AND receive $50 off? Register for our Early Bird Access and you will be notified the minute our packages launch so you won’t miss out on any of the great deals!

Register for Early Bird Access Here