Welcome back, retailers! With Thanksgiving only weeks away, many stores are already getting into the swing of the Holiday shopping season. With Thanksgiving comes the largest holiday shopping weekend of the year, all kicking off with Black Friday.
According to Consumer Electronics Association (CEA) roughly 37% of adult Americans participate in Black Friday shopping – that’s more than 1 in every 3 people! Last year alone over 225,000,000 of us turned up to save big; many heading to the internet to take advantage of Amazon top sellers deals. With so many people seeking out deals, no retailer will want to miss out.
How you approach your sales can vary depending on the products you sell, the size of your business, and many other factors. However, there are a few tricks of the trade every retailer should keep in mind when slashing prices this Black Friday.
Give great deals on products old and new
While you may be considering offering deals on your best selling products, don’t miss out on the opportunity to promote a hot, new product just coming to market, or to clear inventory you’ve overstocked.
Go viral with anticipation
According to an Ipsos telephone survey commissioned by Offers.com, nearly 74 percent of shoppers will be looking online for coupons and promotions. This is a great opportunity to market your products and business with online marketing campaigns. Some tried and true ideas to build up online anticipation:
- Launch an email campaign
- Release small offers early on Facebook/Google+
- Use ads on your own website
- Post all deals on social media: Twitter, Facebook, Pinterest, etc.
Many stores will also have online and in-store deals exclusive to their social media followers. Utilize this by posting a flier or code to bring into the store, available only online or on your social media. Additionally, make sure you’re promoting this on social media platforms that are relevant to the times and that you know the majority of your audience will make use of. Instagram is a platform that is extremely popular at the moment and may be the best platform to reach your customers with these deals. If you don’t feel you have a high enough following to offer these deals to, look into getting help from Nitreo, a site that allows you to purchase Instagram followers to boost your account above the competition and therefore get easily recognized.
Have a feature promotion
While some of your holiday shopping deals may be simple BOGO’s and dollar off purchases, Black Friday shoppers want to see more for their money. To bring in new customers and beat competitors, have one major deal to headline all of your advertisements.
Go mobile
In June of this year, mobile devices officially surpassed PCs in online retailing – with 55 percent of all retailing occurring on a mobile device, according to comScore. Make sure your mobile website runs smoothly, launch an app for your store, or include deals specifically to target mobile shoppers.
So don’t find yourself in a rush to prepare for the holiday season. Sit back and enjoy a second slice of pumpkin pie, knowing that you’re ready for Black Friday using these tips and tricks.
Have another great Black Friday tip? Share it with us on our blog or on our Twitter with #RBBlackFriday
For more information visit our website www.retailbound.com or email us at [email protected]
