Marketing Tactics

Best Buy warned that its margins may take a hit this quarter in what is shaping up to be an extremely competitive environment, following third quarter results. The company posted a net income of $54 million for the quarter amid tight cost controls, compared to a net loss of $10 million during the same period a year earlier.

The chain posted revenue of $9.36 billion, which was flat with last year and below analyst expectations of $9.37 billion.

Dick’s Sporting Goods said marketing efforts, improved customer experience and selective pricing initiatives in the third quarter helped traffic which resulted in net sales of $1.4 billion for the quarter, an increase of 6.7% compared to the year-ago period.

Yonkers, N.Y. -- Two-thirds of shoppers will spend the same amount of money (54%) or more money (12%) than they did last year. A new Consumer Reports poll also reveals that 33% will spend less money, similar to the 37% who said the same when asked last year.

New York -- Fairway Market has launched a new mobile app that is designed to provide an enriched experience for its shoppers who love to cook and explore the unique products that make Fairway an iconic market shopping destination. It is available on the iPhone App Store, and can be downloaded right in Fairway Market because all Fairway stores offer free Wi-Fi.

Chicago -- Retailers anticipate a 3.1% increase in sales on Black Friday this year, mirroring their projections from last year. However, a new a survey of top retail chief marketing officers by BDO USA shows that retailers have moderated their expectations for growth in Cyber Monday sales, predicting that sales will grow by 3.7% this year, down slightly from last year’s sunnier 4.3% growth projection.

New York -- Sports Authority has kicked off its 2013 holiday ad campaign, “There’s Nothing Like the Gift of Sport.” The campaign’s message may resonate with those who are already athletically inclined, but may face challenges with XBox One or PlayStation4 aficionados.

Sports Authority has kicked off its 2013 holiday ad campaign, “There’s Nothing Like the Gift of Sport.” The campaign’s message may resonate with those who are already athletically inclined, but will face challenges with XBox One or PlayStation4 aficionados.

The campaign seeks to persuade people to “unplug” this holiday season and embrace sports, a move which has the potential of generating traffic in stores and online as people shop for everything from sneakers and workout clothes to fitness equipment and sports gear.

This year, it seems that you can’t turn on the TV or read the news without seeing that another store is opening on Thanksgiving. Some believe Black Friday is fading away as more retailers choose to open early to compete with other shopping options such as online sales. I don’t think that Black Friday is going away, but I do think that it is evolving to best serve the needs of the consumer. Any retailer that is going to be successful long-term has to evolve, too.