Have you already made plans for Black Friday?
It might seem too early, but top eCommerce execs think otherwise.
According to their prediction, this year’s Black Friday is going to be a week-long profit bonanza.
For those more astute readers you will realise this is copying what Amazon has done for years…a week long sales period finalising on Black Friday with the best deals and prices available then.
Retailers are going to roll out their deals five days before the main event, making sure to serve their hot items in a staggered manner.
Because of that, a lot of them will see their sales peak prior to Friday.
They are also working out ways to boost engagement on their sites, especially on Black Friday weekend all the way through Cyber Monday.
In the UK, where Black Friday is still considered a new practice, retailers are more prepared now than they were in recent years.
Salmon, an eCommerce consultancy firm, predicted that consumers in the UK are most likely to spend £5 billion, an 80% increase from last year’s £1 billion mark.
Are You All Set for Black Friday?
The last thing you want on Black Friday is having little, or worse, zero items in stock.
To avoid that unpleasant scenario, start ordering your products and restocking your inventory as early as now.
If you’re planning to launch a new product, see to it that it doesn’t cannibalise your sales.
You could come up with a gimmick to increase the sales of your existing products while drawing customers to the new item.
You also want to update the deals on your website; a countdown timer can help build customer anticipation and trigger advanced orders.
Speaking of orders, make sure you already have a fulfilment plan in place to avoid delays in shipment.
Most important of all, it would be wise to have a back-up plan for a glitch that may possibly arise on your website due to the increase in traffic.
Preparing for Black Friday does take a lot of time and effort, but it’s all going to be worth it in the end.
After all, it signals the start of the holiday sales race which ends on Christmas.
How are your plans going so far? Do they go with the forecast of eCommerce experts?
Let us know in the comments below.
To your continued success!
Dave & Matt