Black Friday (or, more often than not, Black Friday "week") is now almost a big a deal in the UK as it is in the USA. While I happily admit I love a bargain, I confess to finding Black Friday uncomfortable to say the least as an emblem of the pressure that we are under as a society to consume ever more "stuff". It goes against the grain, particularly when you think of the environmental impact that the throwaway culture is having, and the financial struggles that the Covid-19 pandemic has thrust many more people into.
And so it was refreshing to see a brand I personally follow, Lucy Locket Loves, declare that they were going to do Black Friday differently - instead of offering Black Friday specific promotions, they are choosing to donate 10% from all sales on Black Friday to their chosen charity, Action for Children.
There are many different ways of demonstrating your principles as a business, but it struck me that turning Black Friday on its head was an excellent example of how being a profit-making business can be entirely compatible with maintaining a strong social purpose and good business ethics. It makes me proud to work for a firm driven by its social purpose, and always delights me to see other businesses following suit. Doing good can also be good business.
Before coronavirus hit, more than 4 million children in the UK were locked in poverty. That’s the equivalent of nine children in every school class of 30. That statistic terrifies me. So this year we are switching it up and giving back to an amazing charity