Protests against BlackFriday, As the cost-of-living crisis continues,
BlackFriday has become a perfect opportunity for many people to sort out their Christmas shopping.
Topics
Why small businesses are boycotting Black Friday
MakeAmazonPay
The Cash Flow Crisis
Eco-friendly Protesters: Taking a stand
Why small businesses are boycotting Black Friday
As the cost-of-living crisis continues, BlackFriday has become a perfect opportunity for many people to sort out their Christmas shopping.
However, with many small businesses struggling, BlackFriday has become a real headache for them.
There are several reasons why small businesses choose to boycott the big sale event.
Firstly, they cannot compete with the large retailers who can offer huge discounts.
Secondly, they are worried about the impact on their cash flow and profitability.
And thirdly, they feel that BlackFriday is simply too commercialized and does not reflect the true meaning of Christmas.
So, this year, people are supporting smaller businesses by boycotting BlackFriday
and instead spend their money at local shops and markets.
Not only will it will be helping to keep them afloat but it will also it will be more unique
and thoughtful gifts that will really make loved ones smile!
MakeAmazonPay
On BlackFriday, let’s make the Amazon pay campaign got renewed
The online retail giant Amazon made $470 billion in revenue last year.
That’s a lot of money! But what did workers and citizens around the world get in return?
Real terms pay cuts, little tax from countries, and pollution from all the packaging.
That’s why on BlackFriday, 25 November, workers and citizens around the world will #MakeAmazonPay.
People are calling on Amazon to give workers a fair deal, pay their taxes properly,
and clean up their acts when it comes to environmental damage.
The pressure on retailers is unrelenting, and many are struggling to keep their heads above water.
In the UK alone, over 10,000 shops closed in 2018 – the highest number on record.
And it’s not just small businesses that are feeling the pinch: even big-name brands like House of Fraser,
Toys R Us and Maplin have gone into administration in recent years.
With consumers becoming savvier and more cost-conscious than ever before,
retailers need to find new ways to stand out from the crowd and remain competitive.
Here are some ideas:
1) Offer something unique that your competitors don’t have.
This could be a bespoke service, exclusive products, or specialized knowledge about your area of expertise.
2) Create an outstanding customer experience that will make people want to come back time after time.
This could involve everything from providing helpful staff who go out of their way to assist customers,
to offer free gifts with purchase or other added value services such as click-and-collect or personalization options.
3) Use technology wisely – but not excessively – To create efficiencies without compromising on customer service levels.
The Cash Flow Crisis
We all know that feeling when we’re just a few weeks away from payday
and our bank account is running low. For businesses,
this can be a real crisis point if they’re not careful with their cash flow.
According to research by TradeIX earlier this year,
one in four brands is just four weeks away from supply chain issues causing problems with their cash flow.
This is a worrying statistic, especially given the current economic climate.
So, what can businesses do to avoid reaching a crisis point?
One of the most important things is to keep on top of your invoices and make sure you’re paid promptly.
Many businesses use invoice financing to help with this,
as it gives them access to the funds they need without having to wait for their customers to pay up.
Another thing businesses can do is to try and negotiate longer payment terms with suppliers.
This can give you some breathing room when it comes to paying your bills.
Of course, it’s not always possible to get longer payment terms but it’s worth asking nonetheless.
Eco-friendly Protesters: Taking a stand
Eco-friendly protesters are taking a chance this BlackFriday as it’s the perfect opportunity
to take a stand against mindless consumption and promote sustainable, eco-friendly practices.
Here are some of their agenda to make a difference:
- Shop local and support small businesses that are committed to sustainability.
- Avoid purchasing new items altogether and instead focus on repairing or upcycling what you already have.
- Educate yourself and others about the true cost of fast fashion
and consumer culture – from environmental destruction to human rights abuses in supply chains
so that we can all make more informed choices about what we buy (or don’t buy). - Finally, remember that your spending power is your vote – so use it wisely!
BlackFriday is one of the most damaging to the environment.
Last year, UK deliveries from BlackFriday sales were estimated to release over 429,000 metric tons of greenhouse gas emissions,
around 0.12% of the UK’s total annual emissions.
Throughout the year, shipping and deliveries of online orders account for up to 4% of the world’s emissions,
and the majority of this comes from BlackFriday and Christmas shopping periods.
Large discounts and cheap products convince people to buy items they don’t need just for the sake of it.
Around 80%ofitems bought on BlackFriday are thrown away after a few uses some without being used at all!
As many small businesses focus on their environmental impact more than ever before,
many choose to boycott BlackFriday completely by shutting down their stores or web shops.
How would that affect the market prices?
