Exchanges Ready to Adapt as Black Friday Presents New Challenges, Opportunities

Every year, especially since the peak of the COVID-19 pandemic in 2020, Black Friday has been a little different. And every year, the Exchange adapts and faces the challenges.

“Customers are looking more for what they need than what they want,” said Exchange Executive Vice President and Chief Merchandising Officer Karen Cardin. “For example, in previous years they may have updated their TV—but if it’s still working, they’re waiting until the economy is better to upgrade.”

Cardin added that MD has carefully analyzed inventory commitments and is focusing on the best values for shoppers. Merchandising and Logistics teams have worked together to make sure stores have the product they need.

“We’ve been doing the final pushes on promotional goods, getting them out to the stores,” said Senior Vice President of Supply Chain Alan French. “Throughout the third quarter, we hold promo meetings with the Planning, Allocation and Replenishment team where we follow the promotional goods that are coming into the distribution centers, so that we can make sure we can get them in and then get them out to stores in time to make the sales dates for Black Friday weekend and Cyber Monday as well.”

Vice President of Store Operations Nicola Carter agreed that this year’s Black Friday isn’t like Black Fridays of the past.

“Every year, it’s evolving to a different shopping experience,” she said. “I think this year it’s going to be a busy day for sure but it won’t be like previous Black Fridays.”

A scene from Black Friday 2022 at the Korea Southern Exchange. Exchanges are prepared for a busy day this year but are also ready to adapt to changes in customer buying habits.

Since at least 2020, no two Black Fridays have been alike. Retail foot traffic dropped in 2020 because of the pandemic. In 2021, shoppers returned to stores as restrictions eased, but there were still COVID-related precautionary measures. Masking and social-distancing mandates were lifted by 2022, which saw a return to relative normalcy, although inflation and customers’ changing buying habits were still concerns.

Self-checkout, introduced in April 2022, made its holiday debut last year at more than 100 PXs and BXs, supplementing busy traditional registers. Now available at more than 450 stores, including nearly 90% of the Exchange’s main stores, self-checkout kiosks will play an even larger role in maintaining the holiday groove at PXs and BXs. “We’ll have more staffed registers open on Black Friday,” Carter said, “but we’re professionals at self-checkout now.”

Stores start preparing for Black Friday by the beginning of November. And they have to be ready for anything.

“We never know how many customers are going to be at our door on Black Friday,” said Fort Cavazos General Manager C.J. Morganfield, who added that social media is one of the ways the Cavazos team keeps shoppers informed. “Our team already started with Veterans Day. I have a team I call ‘Double Trouble’ who put out little teasers on Facebook about Veterans Day and the events we were going to have. And then we put out a teaser about Black Friday and tell viewers to stay tuned for the specials and events we’re having in the store.”

Morganfield added that the team puts as much merchandise on the sales floor as possible to capitalize on the big Black Friday crowds. She said she expects to see a demand for PlayStation 5s, ear buds and other electronics.

Exchange stores, malls and restaurants will open at 8 a.m. Nov. 24 for Black Friday. Cardin says the Exchange isn’t alone in facing challenges this holiday season. But it’s prepared to take them on.

“It’s going to be a tough season for retail,” she said, “But the Exchange is ready to support the best customers in the world.”