How to Judge Black Friday Properly: Decide Before it Starts
By Guy Wolstencroft
Chief Investment Officer, Nudge
Black Friday can give you your biggest sales weekend of the year. The question I’d ask is simple. What did you actually keep?
Having built and sold businesses, I know how good it feels to see the orders flying in. These days, when a founder tells me they did £100k over Black Friday, my first question is what was left after the discounts, ads and delivery. If they did £80k the year before and kept more of it, I’d want to know what that extra £20k actually bought them.
That’s why I’d agree three things before the first order comes in.
Want a head start? Download our free November shopping checklist.
That’s what we’re building at Nudge. A clearer view of what’s driving the sales and what you’re actually making from them.
Decode the why. Drive the buy.
Having built and sold businesses, I know how good it feels to see the orders flying in. These days, when a founder tells me they did £100k over Black Friday, my first question is what was left after the discounts, ads and delivery. If they did £80k the year before and kept more of it, I’d want to know what that extra £20k actually bought them.
That’s why I’d agree three things before the first order comes in.
- What did we make per order? Count the discount, the ads and the cost of getting it out the door.
- Who did we bring in? Split new customers from returning ones, then check in January how many of those first-time buyers came back.
- Did we shift the stock we wanted to? Clearing slow stock can be a good result. Selling out of your bestsellers at a big discount and leaving the slow stuff on the shelf is a different story.
Want a head start? Download our free November shopping checklist.
That’s what we’re building at Nudge. A clearer view of what’s driving the sales and what you’re actually making from them.
Decode the why. Drive the buy.