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For retailers, Black Friday is a key event in the calendar and can generate as much as 40% of a retailers annual sales! Originally from the US where it falls the day after Thanksgiving, Black Friday has become big business here in the UK too and in 2022 sales over the Black Friday weekend totalled a staggering £8.7 billion! This year it falls on Friday 29th November and Cyber Monday on 2nd December and the weekend is set to be a record breaker for sales across the UK as shoppers start Christmas shopping to take advantage of the deals.
To make the most of the Black Friday weekend, preparation is key and can help to significantly boost sales. Here are some tips to get your retail business ready for Black Friday:
Look at historic sales records to identify which products sold well in previous years over the Black Friday weekend so you can set these products to feature in your promotions.
Limited-time deals or bundle discounts can attract attention. Consider offering higher discounts for larger purchases to increase basket sizes (e.g., "spend £100, get 20% off").
Make sure you have enough stock for high-demand items to prevent you from being able to fulfil orders or lose potential sales.
Analyse previous years’ sales data to estimate demand and plan inventory accordingly.
If an item runs out, offer a rain check or back-order option to secure a customer order.
Online traffic surges during Black Friday can slow down websites. Optimize for speed and mobile use. Approximately 40% of web users will leave a website if a page takes more than 3 seconds to load!
Make it easy for customers to find deals by highlighting sales sections or using banners.
Ensure your checkout process is smooth, with multiple payment options available.
Set up automated cart recovery emails to remind customers of their pending purchases.
Arrange products to improve traffic flow and highlight deals. Create a clear path to featured items and don’t forget to consider your line queuing at checkouts.
Ensure you have enough staff to handle increased foot traffic and assist with customer enquiries.
Tease upcoming deals via email, social media, and ads to build anticipation.
Create engaging content, offer sneak peeks of discounts, or host contests to build excitement.
Segment your email list and send targeted offers based on customer preferences and past shopping behaviour.
Use retargeting to capture potential customers who’ve previously visited your site or added items to their shopping basket but left the sales funnel without purchasing.
Make sure customers can shop seamlessly online and in-store. Offer services like Buy Online or Click and Collect.
Ensure your website and checkout process work flawlessly on mobile devices.
Ensure your staff is well-versed in promotions, stock levels, and store policies to provide excellent service. According to the Institute of Customer service, 9 out 10 shoppers who received good customer service during Black Friday bought from that retailer again at another point in the year.
If possible, offer real-time customer support online to handle questions or issues during the sale. Did you know 79% of businesses who have added live chat features say it has had a positive affect on sales and customer service.
Offering free shipping can increase conversion rates, but make sure to balance costs. You could do this by offering free shipping over a certain order value, a free shipping timeframe e.g. ‘order by midnight for free shipping’, or offer free shipping on certain products only such as your higher value items.
Clearly communicate expected delivery times to avoid frustration. Don’t overpromise on delivery timescales to avoid customer disappointment.
Prepare for a surge in online orders by coordinating with shipping partners.
Keep an eye on what your competitors are offering and adjust your pricing or promotions to remain competitive.
Highlight what makes your business or product different, even if competitors offer similar deals.
Have clear targets for revenue, traffic, or average order value during the sale.
Use analytics tools to monitor real-time performance and make adjustments as needed.
Offer post-Black Friday incentives, such as discounts or exclusive offers, to turn first-time buyers into repeat customers.
Encourage happy customers to leave reviews, which can help boost future sales.
Are you now feeling more prepared for the busiest sales period of the calendar year? We hope so! By following the tips outlines above we believe you can prepare your business to maximise sales and customer satisfaction over the Black Friday weekend. Remember, preparation is key and analysing your sales data carefully, along with using inventory management software to carefully plan your stock levels according to demand will go a long way in your success story this November.
For more information on how our robust Supply Chain Management and CRM solutions available with Opera 3 SE can help you succeed in periods of peak demand, please contact us today.
Posted On: October 02, 2024
