I saw a lot of craziness this past Black Friday. Roomba's at 50% off, Xbox's 50% off, and Timbuk2 bags 50% off. 50% is a lot of margin And it makes me question how well store owners actually do.
Black Friday is the day where you're make so many sales your store goes from in the red (owing money) to in the black (making money). To do that you need to make a lot of profit. The keyword there is profit not revenue. If you aren't making enough profit on each sale you could still be losing money.
Getting people in the door is easier said than done. To draw the crowds you have to offer discounts and those discounts start eating away at your profit. So it's a balancing act to offer the right discount to draw people in and still make enough profit.
The good news is that you don't have to run a Black Friday promotion like everyone else. You can give tiny discounts, freebies, or you don't have to run a promotion at all if you don't want.