Why retail’s future depends on loyalty, not discounts

Black Friday and its many global offshoots are no longer the shopping phenomena they once were. Participation remains high, but enthusiasm is fading. According to new YouGov data, 35 percent of British consumers say they are less interested in mega sales than they were a few years ago. The reasons are telling: 63 percent cite misleading discounts, and 43 percent say the novelty has simply worn off.