How REI Wins Black Friday

 

Weekly Loop #22

How REI Wins Black Friday

Note: Happy Thanksgiving. This week’s issue is one day early to avoid the Thanksgiving holiday. 

For the third year in a row, REI is closing their stores on Black Friday and encouraging others to join them in their #OptOutside campaign.

a movement for people to reconnect outdoors over the holidays. We closed on one of the most popular shopping days of the year, paid our 12,000+ employees to spend time outside, and invited America to join us. The response was overwhelmingly positive. More than 1.4 million people and 170 organizations chose to #OptOutside.

The campaign has gained a lot of attention over the last few years, particularly because it seems so counter-intuitive for a retailer to close on one of the busiest days of the year.

Of course, not everyone thinks of the day after Thanksgiving as “Black Friday”, a day that has grown immensely in commercialism since the days the term was first used 30 years ago. With REI’s core audience, taking a stand against that commercialism makes the brand even more appealing.

Their core customers, the ones that matter most, look to spend free time outdoors – and they’re happy to forego store visits for a good outdoor day. It’s unlikely those customers will choose to spend their money with another retailer. Instead they’ll either shift their spending to another day – or shop online, which of course is still open.

Beyond winning the goodwill of customers, REI generates a lot of free press via articles, plenty of backlinks, and increased traffic to their online black friday page – all from a non-event. Not a bad tradeoff at all!

At a time when many physical retailers are closing their stores, REI has thrived despite closing on Black Fridays. Brand building – and REI.com help make it a win. 

 

Recommended Links

 

Each week, we share articles, blog posts, videos, infographics, books and more related to ecommerce. 

Have a suggestion of something to include? Leave a comment below or contact us!

 

ECOMMERCE TIPS & IDEAS

Here’s a good example of brands leveraging complementary audiences to sell more products. Can your business find partners?

Ticketmaster and Fanatics link up to sell merch and tickets on each others’ platforms
Jonathan Shieber | eCommerce – TechCrunch

The partnership will also allow Ticketmaster to target Fanatics shoppers with personalized offerings, special offers and identify new customers. Fanatics shoppers can also receive bundles of merchandise as an up-sell on their ticket purchases through Ticketmaster.1

 

A/B testing may not be the answer to improving your conversion rate. Consider using a different method.

Jobs to Be Done (JTBD) + CRO
Frictionless Commerce | Conversion Ideas

What prompted me to look beyond A/B testing?
Trouble. Clients paid us to identify and fix site friction. A/B testing is a great program to make an existing page as good as it can be. We unearthed amazing counter-intuitive lessons about buyer psychology. Insights that gave clients an edge over the competition. But when I consider our impact beyond A/B testing I’m left disappointed. We haven’t been able to transform clients’ businesses inside out.2

 

FUTURE OF ECOMMERCE

Are you using any type of predictive analysis with software? It’s available more than you may realize in plenty of apps.

How to Use Predictive Analysis to Improve Your Marketing Strategy
Neil Patel | Quick Sprout

Predictive analysis technology can drastically improve your marketing strategy.
Many businesses haven’t adapted to this yet even though they recognize its importance. This is a great opportunity for you to jump on board now to gain an advantage over your competition.
Your predictive analysis models will help with your customer segmentation strategy.
This software will improve your automation tactics and help you prevent customer churn by identifying it before it’s too late. You’ll also be able to make other important decisions in real time.
Predictive analysis is great for advanced regression models.
Use this technology to help you predict lifetime value of a customer and prioritize qualified leads.
Once you’re ready to start using predictive analysis to improve your marketing strategy, I suggest you apply the concepts I’ve outlined in this guide.3

 

Shopify has been awesome in bringing Augmented Reality to a large number of merchants. Here’s some ways it’s being used – and will be used.

Augmented Reality Brings a New Dimension of Engagement to the Customer Experience
Jon Wade | Shopify Blog – Company

Within the next few years, you can expect to see more and more creative applications of mobile AR, with brands using the technology to engage consumers at every stage of the customer journey, from discovery to post-purchase.
At Shopify, we’re committed to creating that future by making augmented reality more accessible for businesses of all sizes.4

 

BOOK RECOMMENDATION

Check out Seth Godin’s new book “This is Marketing.” His latst work is sure to inspire great ideas for your business.

What’s inside THIS IS MARKETING
Seth Godin | Seth Godin’s Blog on marketing, tribes and respect

This is Marketing is about modern marketing, the post-advertising, post-spam sort of marketing that we can be proud of.
The book’s ideas are relevant to organizations big and small, non-profits, politicians, and freelancers too.5

 

BIG ECOMMERCE

Walmart has 10x number of products now vs january 2015 (under 4 years ago). 42 million now vs under 4.5 million then.

Walmart Long Tail of Selection
Marketplace Pulse | Marketplace Pulse

Walmart.com assortment has over 42 million products, but only 3.5 million products are sold by Walmart. The rest are by one of the over 20,000 marketplace sellers. Starting three years ago Walmart has used the marketplace to grow the overall catalog ten times: from less than 4.5 million products in January 2015 to the 42 million products today.6

 

 

 

 

  1. https://techcrunch.com/2018/11/19/ticketmaster-and-fanatics-link-up-to-sell-merch-and-tickets-on-each-others-platforms/
  2. https://betterretail.wordpress.com/2018/11/19/jobs-to-be-done-jtbd-cro/
  3. http://www.quicksprout.com/2018/11/15/how-to-use-predictive-analysis-to-improve-your-marketing-strategy/
  4. https://www.shopify.com/blogs/blog/augmented-reality-commerce
  5. https://seths.blog/2018/11/what-is-inside-thisismarketing/
  6. https://www.marketplacepulse.com/articles/walmart-long-tail-of-selection
  7. Photo by Jamie Brown on Unsplash

Andrew @ EcomLoop
Are you looking to start or grow a standalone ecommerce shop? I help independent businesses achieve success on the Shopify and WooCommerce platforms. As the owner of multiple ecommerce businesses, I've had the opportunity to get experience with nearly every aspect of the ecommerce industry. I started EcomLoop to help other quality independent businesses using my knowledge and experience. To stay on top of new ecommerce developments, I publish The EcomLoop Weekly Loop, a blog and email newsletter with original thoughts and curated links to help independent businesses improve their businesses.