B&Q ditches Black Friday in line with EDLP policy
Published: 2 November 2018 - Fiona Garcia
The Kingfisher-owned DIY chain announced today that it won’t be slashing prices on November 23 along with other retailers hoping to cash in on Black Friday and will, instead, stick with its everyday low prices model.
The retailer has followed a simplified low-pricing policy on kitchens since 2014 but invested £100million in rolling the model out across its 300 stores in July; basing the decision on research that suggested shoppers trust retailers offering year-round low prices far more than those that run frequent sales and occasional offers.
The news comes as experts comment on the unseasonably high number of discounts home improvement e-commerce retailers have been running in recent weeks meaning the effect of Black Friday may be diluted.
B&Q has reinforced its decision to stick with its everyday low pricing model and abandon Black Friday discounts with reports that 46% of people say they aren’t planning to shop in this year’s Black Friday sales and 43% saying they often or always returned items after regretting purchases made in short term, dramatic sales.
B&Q commercial director Paul White said of the decision: “Shoppers have told us they trust stable low prices far more than ‘here today, gone tomorrow’ deals, which is why we have invested £100million in our year round low prices across the store.
“Our pricing is all part of B&Q’s strategy to help make home improvement more affordable for all customers…[and means] shoppers don’t have to impulse buy to get the best deal. For us, it’s ‘Black Friday’ every day.”
However, the same research by OnePoll did also reveal that 29% of consumers favoured retailers who held occasional sales, whilst 15% favoured frequent sales, so there will certainly be shoppers looking for deals during the shopping bonanza. A report revealed that thhe key to boosting conversion rates this Black Friday lies in the use of video content.