Black Friday. It’s not for Maykher.
After spending hundreds of thousands (possibly millions!) on glossy Christmas adverts, the big High Street brands prepare to slash their prices by maybe 50% or 70% off for Black Friday. We can’t help but watch from afar and be filled with sadness. What does this mean for small businesses and how can we even begin to comprehend competing?
Small Business Saturday on December 2nd is a very welcome campaign to support small and micro businesses! It’s gratefully received and celebrated by many, including ourselves. Yet its profile is still largely over shadowed by the hype and hysteria that surrounds the Black Friday event that’s grown to Black Friday week, and let’s not forget the more recent addition of Cyber Monday.
It is worth noting that even some of the most seasoned of retailers struggle through this period of unpredictability now that Black Friday has taken hold. Retailers have to balance sales, profit, expectations from customers and their spending habits. October was tough for the Retail Industry and Black Friday plays an enormous part in this anguish because shoppers have held out for the end of November discounts. But the truth is the struggle is heightened as businesses scale down in size. Many, dare we say most, micro and independent retail businesses shudder at the thought of having to slash their prices so dramatically to keep up with big chains. If they’re lucky enough to be able to match the price cuts, they’re highly unlikely to be backed up with weighty marketing budgets to shout about it to larger audiences.
Then comes the ethical (or unethical) side of the big day. Could we viably cut our prices by 70% whilst still affording to make enough profit to invest back into the business or even pay ourselves? With this discount could we cover the cost of materials, importing, duty and the long list of overheads a small business carries? And the most important question; can we hack our prices and still be able to pay our makers the fair wage they deserve to print, weave, knit or sew our wares? It’s a definitive NO! Thus lies the fundamental problem with the concept behind Black Friday and we believe a monumental shift is needed for that to change.
We’re proud of our stance to say NO to Black Friday! Slow, that’s what we like. We make products with stories, products that are made with love and kindness. Our ethos is about buying less and buying better. Supporting purchases that make a difference to peoples lives at all stages of production, not just those in the boardroom.
We love being a small business and how it allows us to be connected with others. So, today we’re supporting SLOW, SMALL and SUSTAINABLE. We’re choosing to shop ethical instead.
Black Friday doesn’t support our values and we don’t support their’s and we’ll continue to keep fighting for what we believe is right and fair!