What started as a trend in several parts of the world has now evolved to become a consistent global phenomenon.
Black Friday has not only become what consumers respond to, but it has now become a retail calendar date that most businesses prepare for.
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Businesses and consumers have developed a seasonal habit of responding to the annual retail frenzy post covid with numbers solidifying substantial growth financially.
Research by the Bureau of Market Research, supported by Capital Connect estimates that this year’s Black Friday season could bring R 26.6 billion for the local retail industry which translates to over 150,000 seasonal and temporary jobs likely to be created.
The South African story
Research indicates that while e-commerce shows substantial growth, South Africans still prefer the in-store shopping experience.
According to FNB, its clients spent R2.4 billion in-store during Black Friday in 2022. With each year more and more consumers flood malls, on the prowl for a better deal.
The downside
As many South Africans rush to outlets, there remains a security risk as criminals remain in crowded unmonitored areas likely to be their habitat.
What do we do?
According to Marcel Bruyns, Sales Manager for Africa at Axis Communications, the solution lies in enhancing existing measures in place and not in reinventing the wheel.
He says integrated security solutions, encompassing an ecosystem of hardware and software can give retailers the edge they need to control the crowds and prevent crimes in a manner that reduces and curbs theft and vandalism altogether.
Bruyns adds that high-quality video surveillance systems allow retail personnel to maintain a high level of security and when strategically placed across sales floors can record any incident that occurs allowing enough time for a security response.
AI to the rescue
On top of traditional security measures, retailers could factor in the use of AI.
Bruyns says: “Network cameras enabled with AI and computer vision offer new capabilities in detecting threats, recognizing objects, and tracking in-store customer behaviour.”
“Retailers can use captured data to forecast trends and identify customer preferences, which can then influence inventory and marketing campaigns. During shopping rushes, cameras can identify bottlenecks as customers make their way throughout the store. Personnel can use these
insights to improve operations and deliver a more streamlined and convenient Black Friday
experience.”
The Black Friday season allows retailers and consumers to get the most out of the event, and upgraded security and systems are more likely to maintain long-term benefits not to mention opportunities.
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Featured image: Karolina Grabowska on Pexels
