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Black Friday and what to learn from it as an online Seller
A thread
http://biznafiti.home.blog/2020/11/07/what-to-learn-from-black-friday-it-as-an-online-seller/
A thread
http://biznafiti.home.blog/2020/11/07/what-to-learn-from-black-friday-it-as-an-online-seller/
Black Friday is the term that is used to mean the day after Thanksgiving Day in the US. The day is celebrated annually since 1952. There is usually the last Friday of the month. The event now is not only celebrated in the US but, also in other countries.
It is characterized by many activities ushering the Christmas festivity period. For that many businesses have taken advantage to sell more on the day. These are through great shopping deals characterized by huge discounts.
Some businesses start the Black Friday offers, days, or even weeks before the actual day. This is the period that you get to find crazy deals in the major outlets and online stores in the world.
As an Online seller, there are some key points you should know about black Friday. I will show you these things to help you make huge sales on this year's Black Friday.
Note: This Year’s Black Friday will be on 27 November.
Note: This Year’s Black Friday will be on 27 November.
6 Things & Lessons You Should Know About Black Friday
There are some important things you need to know about black Friday. They will help you have a glimpse of what Black Friday is to prepare you for more.
There are some important things you need to know about black Friday. They will help you have a glimpse of what Black Friday is to prepare you for more.
1. It is one of the busiest shopping days
Black Friday is one of the busiest days when it comes to shopping matters. Many buyers tend to buy more and sellers sell more on this day. The day has been characterized by long queues in major outlets. This is owing to the favorable prices and huge discounts.
Research done in the state of California showed that nearly 70% of outlets and shops, start preparing for the black Friday at the beginning of November. This is why it has brought about success stories.
The lesson to learn: Therefore, if you have your online business this is a day you should make big sales. To achieve these do prior planning. This entails marketing and advertising earlier before. With that, you will make huge profits.
2. Stock shortage is common
During Black Friday there are complaints of decreased stock. This is owing to the abnormal increase in sales compared to the other times of the year. Thousands of buyers will avoid spending in any period of the year to enjoy the favorable deals on this day.
Some will even buy items that they don't need just because they are being sold lower than the common prices. All this is what leads to stock shortages. Many buyers don’t even get a chance to purchase what they wanted.
The lesson to learn: To avoid all these, you need to get the adequate stock to meet the huge demands. More so as an online seller. Ensure you have suppliers who will not let you down on this day. You can even inform them earlier.
With that, you will have plenty of happy customers.
3. Online stores experience major downtimes on this day
Many online stores invest in many campaigns before this day. These make them receive a lot of traffic. This cause the system to crash due to this huge traffic. There is a lot of downtime scenarios that cause the online buyers to be annoyed.
Despite investing more on the servers and the back end of the online shop there are many cases being recorded. If not handled on time the stores can incur huge losses and disappointments to customers.
A lesson to learn: This is why you need to ensure you have additional servers and back up options in case things go south. Doing this will avoid frustrations to your customers. You should also have a Technical team ready to handle anything malfunctioning.
4. Many Store open earlier on this day
In the latest years, many outlets have realized the opportunities behind Black Friday. These being a day to appreciate their customers with good offers. They do as much to avoid frustrating them with delays and long queues.
To do this most outlets and shops have adopted the trend of opening early. Many open as early as midnight. In fact, in last year’s Black Friday several outlets in the US were sported opening their stores Late Thursday evening after the Thanksgiving celebrations.
The case is the same in other parts of the world.
A lesson to learn: From this, it's good to be aware that the success of the day depends on what time you open your store. Luckily for online sellers, the stores are always open throughout. But this does not mean you shouldn't do anything.
You should create awareness to online buyers and let them know that you will be available to take their orders.
5. Outlets are starting to spread out the offers
To avoid congesting the sales on a single day, sellers have opted to spread out the offers. This avoids the stress of long orders being made on the same day. Currently, you will see businesses starting to make offers from early November through to late December.
Even though the main day for Black Friday is still there, at least people do not congest to make orders. When buyers know they have a longer duration to make their purchase they will no longer struggle to ensure they make purchases on Black Friday.
For instance, Jumia has Black Fridays every Friday of November.
A lesson to learn: You can also adopt this trend for your online store. For example, you can give discounts on several items every week. You can do this revolving around the items you offer. This will market your store stand out to buyers.
These will be great instead of focusing only on Black Friday.
6. It led to Cyber Monday and Black Thursday
Cyber Monday and Black Thursday were introduced as a result of Black Friday. For Black Thursday it was introduced because many customers would tend to start streaming to outlets as early as Thursday. Outlets took these opportunities to make offers earlier.
For Cyber Monday these happened as a result of the remaining commodities after Black Friday. Many outlets would opt to make offers the following Monday, to allow those that were not able to shop.
A lesson to Learn: The introduction of these two days has brought about, more customers being satisfied. This is because they have an allowance of time to buy what they want. Therefore, for your online store to hit huge targets make use of these two days.
You will find many customers not waiting for Black Friday, instead, they will buy on Black Thursday. Those who are late will buy on Cyber Monday. With that more sales will be achieved.
Final Verdict
Black Friday is a good opportunity to sell more. But all his is dependent on your preparation. You should start preparing early and make everything in order. By doing that you will achieve your objectives
Black Friday is a good opportunity to sell more. But all his is dependent on your preparation. You should start preparing early and make everything in order. By doing that you will achieve your objectives
This thread can be read here: http://biznafiti.home.blog/2020/11/07/what-to-learn-from-black-friday-it-as-an-online-seller/
