Black Friday and Cyber Monday are fast approaching and it is time for shops to prepare for two of the busiest shopping days of the year. The following tips can help retailers increase their revenue.
Christmas, January sales, the summer months, Valentine’s Day and not least Black Friday and Cyber Monday are all important occasions for everyone who manages a store. They are great opportunities to run a campaign or have a clearance sale and thus increase the revenue.
According to statisticbrain.com, the US experienced an in-store spending on Black Friday 2015 on more than $67 billion and online spending on almost $3 billion. Since 2014 the in-store spending has increased with 33 percent online spending with 100 percent. Also, 23 percent of Black Friday retail shoppers camped out in front of the store from the night before. If the trend is the same this year stores and online stores will be very busy, when the sales start.
Black Friday and Cyber Monday
Black Friday is the Friday following Thanksgiving, this year on November 25, while Cyber Monday is the following Monday November 28. Indications are that this year will be a success as well, as the spending increases each year. Retailers are looking forward to these busy days when a large amount of shoppers are looking for the best offers online and offline.
Get on the hype train
It is important for all retailers to create hype early in order to build up customers’ expectations. They can use social media to build awareness and inform customers about when the discounts start. On the web stores, it can be a good idea to start counting down on the displayed products and show how long the discount will last. In this way, retailers can encourage customers to shop within a specific time frame and often as soon as possible. A landing page with a visible countdown to the beginning of Black Friday and Cyber Monday can also be a good way to prepare the customers for the sale. Learn how to engage customers with NP Retail features »
Prepare for a lot of traffic
These two days will mean a lot of traffic to both online and physical stores. Therefore all retailers need to be prepared to meet this increased demand. For web stores, it is important to make sure the technical set-up can handle all the traffic that can happen on the first day of the sale. Physical stores are advised to staff up on these days in order to be able to greet and service the large amount of shoppers during the sale. An integrated omnichannel solution can help gear the stores for the pressure »
Mobile Point of Sale (mPOS) is the answer
To handle as many transactions as possible, a good idea is to give the staff mobile devices that enable a quick checkout of customers’ goods. Mobile point-of-sales solutions will grow rapidly within the next 3-4 years according to 451 Research. The research shows that mPOS solutions are going to increase from 13.3 million units today to 54.03 million units in 2019.
There are many advantages to gain from implementing mobile point-of-sale solutions; faster checkout, which makes more transactions possible. The size of the queues is reduced since payment can take place everywhere inside the store, and the staff can offer a better personal service as they are by the customer’s side throughout the entire purchasing process. Learn more »
Increase sales in the following days as well
On Black Friday and Cyber Monday there are so many offers from so many different stores, so the retailers want to make sure the consumers notice them, they should make their deals last a little longer. If the shops let a few of their deals last a couple of days more, there is a good chance that they will have goods in stock that are sold out elsewhere.
Tips for other special occasions
Here you can download NaviPartner’s full guide with 30 tips that can help retailers boost sales. The tips include knowledge about retail trends, tips for e-commerce, tips for physical stores and customized tips for weddings and anniversaries.