Historically, whales have gotten a bad rap. In Greek mythology, whales were depicted as ferocious sea monsters, and we all know how Moby Dick ends. However, for many consumer businesses, the “whales” are a prized catch. The term refers to the big spenders, high-rollers, and frequent flyers responsible for an outsized share of a company’s sales.
As America’s biggest retailer, Walmart has outsold Amazon in past holiday seasons. But debit and credit card transactions show Amazon is narrowing the gap.
lack Friday has a longstanding reputation as the biggest shopping day of the year, but does it really live up to the hype? Turns out, the answer is yes.
Black Friday backlash has been on the rise in recent years, and perhaps no store has been a stauncher opponent than REI, which will be closed on Thanksgiving and Black Friday for the third year in a row. While closing on Black Friday has been a principled—rather than promotional—move, the decision didn’t hurt the company’s bottom line. Against odds, the first closure in 2015 actually coincided with an increase in year-over-year sales for Black Friday week.
What’s the secret to tripling sales? For Applebee’s, it’s giving away free food.