Cyber Monday: The Sales Ethics Conundrum
- Jay Ludditt
- Nov 27, 2023
- 2 min read
The hype over the biggest sales weekend of the year doesn't seem to be slowing down, does it? Despite growing buyer understanding and wariness around falsely inflated pricing to allow for dazzling, unmissable savings, the majority of brands have hit harder than ever with their Black Friday and Cyber Monday campaigns.
But not all brands are following the herd. I saw a great example from ethical mobile phone company Fairphone, encouraging consumers to keep their existing phones for longer to save themselves any expense whatsoever, or if you really must, buy refurbished. The message chimes perfectly with their ethical stance on their product, whilst demonstrating they have the benefit of customers, and the planet, at the core of their purpose; this is great brand building.
Others continue to shun the idea of discounting altogether, and focus instead on an all-year-round belief in the value and quality of their product. Mulberry targeting my social feed with a set of £250 leather tea coasters comes to mind. No purchase this time, Mulberry, but I respect the decision not to slash prices and take perceived brand value with them.
For years I drove huge sales for leading retail brands during Black Friday periods. My team was built and laser-focused to eke out every last penny of funds from college and university students across the world so they could buy more for less, using 'boosted' student-exclusive promotions. Happy buyers, successful ecommerce teams and soaring commissions made for a winning formula, but how sustainable—and right—is that approach in 2023 and beyond?
Brands have a responsibility to put the customer first, and whilst that might mean providing a fair price, there are other considerations to take before going all-in with the most aggressive sales campaign of the year. With the cost of living and other social and economic factors putting so much strain on consumers, and operating costs severely testing the longevity and scalability of businesses all year round, the fact that brands lean so heavily on this time of year is both predictable and surprising, depending on whether you take a short, or long-term view on strategy.
To create a healthier and more viable ecosystem, brands have to support consumers to enjoy their shopping experiences in a sustainable way, whilst building brand value and respecting the ever-changing landscape we are all navigating.
