Should I Offer Discounts This Black Friday As A Luxury Salon or Spa?
Updated: Oct 5
The Black Friday extravaganza is no doubt a stampede of deal hunters who care little for the brand or service and are strictly blinded by the need to cop a sale.
Companies within the luxury business view Black Friday as an event that takes away from the exclusivity associated with luxury brands that gives it it's lure, ultimately demeaning their brand value. But despite how you may feel about it, there is no denying that Black Friday is a sure revenue booster.
So, if you're the owner of a luxury salon or spa, here are a few points to consider about Black Friday for your business.
To Discount or Not to Discount?
Discount and luxury are not a combination common find. In fact, many luxury companies deem discounts the death of luxury. But in this business, it's best to try various approaches until you find the one that fits your company needs.
If you are a luxury salon or spa owner on the fence about Black Friday deals, firstly , think about your loyal customers. Yes, your clients know you offer high-quality luxury service, and while they don’t mind paying full prices, very few people can resist Black Friday fever, so some customers may see a lack of Black Friday specials as selfish after consistently supporting your business. While you may worry about cheapening your brand, your consumers could be finding other places not afraid to show their customers appreciation.
However, not all customers will have this view. Many customers truly enjoy the feeling of exclusivity that luxury affords and jumping on the Black Friday wagon could alienate long-time regulars who love that your salon or spa is only for a select few.
So, What Should I Do?
It all boils down to what you want your brand identity to convey. If your sole focus is providing extraordinary service to an high end exclusive clientele, then maybe the Black Friday discounts just aren't for you.
However, you can still offer minimal discounts to your existing customer base for referrals. That way, you leverage your customer base to grow your clientele with people that will suit your brand and fit in with your current regulars. Keeping discounts low will be more of a gesture of thanks for the referral instead of a big Black Friday discount.
When people think Black Friday they also imagine tons of people rushing into packed places and some even coming to blows. This is undoubtedly one reason that deters luxury companies from participating, but luxury salons and spas can easily avoid this by selling discounted products online instead of in-store, which would prove profitable and convenient. Salons and spas could also sell services redeemable for the new year after the holidays, thus benefiting from the increased consumer spending without partaking in the shopping frenzy.
But guess what?
You can choose not to discount at all. If discounting is not in line with your brand, there are other ways to partake in Black Friday. Luxury brands such as Gucci and Louis Vuitton have openly denounced Black Friday discounts, opting instead to stay open longer. Other companies give away collectibles and use the opportunity to create memorable in-store experiences with champagne, specialized services, and other tasteful inclusions.
Listen, I know what you're really looking for, what the main goal really is .. and you're really wanting is to generate revenue and meet your financial goals. You're looking to create predictability and stability in your business with influx of cash flow. I get it! But if high discounts and trends are not on brand for you then I highly recommend strengthening your marketing strategy. Strategically creating a 12 month promotional calendar, developing an effective sales funnels to attract potential clients, engage your current clients and support your business goals. You can do that and much more the "Monthly Marketing Unlocked" course. Check out the benefits and bonuses using the link below.