Goat is offering rare items, exclusive sneakers during Black Friday

A quick dive:

• Following the recent acquisition of Goat, the sneaker, apparel and accessories marketplace, is launching its Black Friday promotions with exclusive sneaker and apparel releases, raffles, auctions and other customer perks. the company announced on Tuesday. The event will be held from November 18 to 25.
• As part of the event, the company will release exclusive sneakers, clothing and accessories every day, hold 12 raffles per day and 3-4 auctions of rare items with a noteworthy history.
• The company said it also allows members to create their own digital alter egos to match their style using collections in the company’s virtual Alter Ego Spaces.

Dive Insight:

Unlike its mainstream retail counterparts, Goat is trying to entice Black Friday shoppers with raffles and rare items.

Ahead of Black Friday, the marketplace diversified its product range to attract customers. In 2019, the company shifted from its initial focus on sneakers to offering clothing and accessories. Last month, Goat Group agreed buy Grailed, a streetwear resale marketplace, for an undisclosed sum. The combined organization will have more than 50 million users in 170 countries.

“Every year, we get the opportunity to thank and celebrate our community through the highly anticipated Black Friday event,” said Eddie Lu, co-founder and CEO of Goat Group, in a statement. “This year, with our exciting Spaces technology, as well as our new Auctions platform, we look forward to creating engaging and memorable experiences for our members around the world.”

As GOAT and other retailers prepare for the holidays, it’s unclear how many shoppers will take part in Black Friday this year. PwC survey of 4,000 people found that only 20% shop on Black Friday, and only 17% will wait until after Thanksgiving to do their holiday shopping.

This year’s discounts it doesn’t seem like deep as they were in the past, a sign that consumers may be paying more for fewer items this holiday season. A A Signifyd report released this month predicts that Cyber ​​​​Week sales will grow 5% year-over-year, but volume will fall 13%. However, the report also found a 23% and 43% increase in the use of discount codes in sales between September and October, respectively.