Is it time for Fair Dinkum Day?
Today, Boxing Day, used to be the biggest sales event of the year in Australia. But last year it was eclipsed by Black Friday, and it probably will be again this year.
It’s no surprise that Aussies are a bargain-loving mob, more inclined to reach into their pockets during major sales events, but we should ask ourselves what we’re giving up by adopting an overseas event that has no cultural relevance to Aussie consumers.
Black Friday, traditionally the day after Thanksgiving in the US, was named after the huge volume of shoppers that created traffic accidents and violence. It’s time we established a new, hyper-relevant sales event that resonates with the everyday Aussie.
Allow me to suggest Fair Dinkum Day.
You might argue that Australia already has its own sales initiative – Click Frenzy. But this was founded by an organisation, Power Retail, and has no cultural relevance for Aussies. What about Boxing Day? It originated in the UK, and the day, December 26, similarly has no special significance beyond being a public holiday.
But imagine if Fair Dinkum Day, like Black Friday, were scheduled around a key calendar moment like Australia Day.
This is a relatively quiet time in the retail industry. Children are heading back to school, parents are returning to work and the end of summer is nearing, providing an opportunity to excite the public, meet consumer needs and grow into a leading retail event that is uniquely Australian.
While one could argue that the number of sales has completely diluted Australia’s retail ecosystem, introducing more Australian-centric sales events could be a way of creating additional revenue streams to improve overall profit margins throughout the year.
Brands that aren’t necessarily the cheapest but the most competitive are most likely to succeed in this climate.
Retailers must appeal to today’s shopper by offering an integrated, omnichannel shopping experience, while matching consumer expectations with appealing content that inspires shoppers with the right deal at the right time is key.
Australia’s retail sector must continue to capitalise on Australians’ love for a bargain by establishing a place for local retailers to own the event, otherwise expect more retailers to collapse.
Might be worth a Fair Dinkum crack I reckon!
Colin Barnard is commercial director at Criteo ANZ.
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