Black Friday is synonymous with rock-bottom deals at discount retailers. But it may surprise you that a recent Placed survey found three premium retailers also likely to be inundated with Black Friday shoppers this year. Let's take a peek at each of them.
Whole Foods Market (NASDAQ:WFM)Whole Foods probably isn't the first place you think of as a Black Friday destination. Yet Placed found consumers 21% more likely to visit the upscale grocer on Black Friday, based on pre-holiday observed visits. In order to stave off competition from natural foods stores and traditional supermarkets increasingly offering organic goods, Whole Foods has recently been reducing prices and offering more promotions. The grocer known for its commitment to food quality and safety, environmental sustainability, and animal welfare has greatly benefited from growth in the natural foods industry. But Whole Foods' aggressive price-matching strategy could ultimately clip gross margins.
Apple (NASDAQ:AAPL)The tech titan is not a stranger to crazy crowds camping outside its stores, and Placed found consumers 22% more likely to visit Apple on Black Friday based on pre-holiday observed visits. According to Interbrand, Apple has increased its brand value by 28% this year, claiming the coveted No. 1 spot on the brand consultancy firm's Best Global Brands list. To date, Apple has sold 600 million iOS devices, including iPads, iPhones, and iPod touches. The company also boasts the highest sales per square foot of any retailer in the U.S. Yet Apple has faced criticism for its lack of innovation and has been losing market share to Google's Android operating system. Going forward, Apple's momentum is housed in its strong demand for existing products, likely pipeline of new ones, and opportunities in China.
Coach (NYSE:TPR)The Placed Survey found consumers 25% more likely to visit Coach, one of the strongest brands in the handbag and accessory market, on Black Friday. Considered "accessible luxury," Coach's products allow the company to capture a piece of luxury spending while maintaining a broader consumer base than the very high-end brands. So far, Coach has managed this accessibility without degrading its brand image. And as global demand for luxury goods increases, the company's loyal customers enable profitable expansion into new markets, most notably Asia. Last quarter, Coach posted a 9% rise in international sales, with revenues in China increasing 35%.