This year the Black Friday falls on 23rd of November. In US, Black Friday is shopping phenomenon and is a busiest shopping day of the year. The online spending predictions on Black Friday and Cyber Monday are $59.57 billion this year. It is also noted that 30% of retail sales are made between Black Friday and Thanksgiving. The average spending on Black Friday by a person this year is expected to be $1,007.24 making it a total of $717.5 billion. Shoppers are coming out for Black Friday to take advantage of deals at retail stores.
Most of the retail stores are preparing for Black Friday before the holiday season. Alibaba and Amazon are offering deals before the holiday season. Are you a retail business? Want to get benefit from holiday season? Make a sales strategy for Black Friday. Because lack of sales strategy or inappropriate strategy can ruin your sales season.
Here are some of the best strategies that can help increase your sales.
- Create Hype by Counting Down the Minutes
As the customers rush to get the best deals on Black Friday, most of the brands create hype by setting up a countdown timer. The countdown timer strategy helps create the scarcity to buy the products before the deal time expires. It also encourage customers not to miss out on the best deal opportunity.
- Make Your Offers Irresistible
Low price items bring the attention more than expensive items. Reduced profit margins will be compensated particularly from the fresh brand recognition as well as for the sales. Cut down the operational cost by implementing automated streamlined systems.
- Set Creative Discount Strategy
Deals are the sales opportunities for your customers. Create best possible deals on your products to attract more customers. This strategy will engage your customers’ attention. Use deals and coupon strategy, buy one get one free strategy, discount strategy as well as double reward strategy. Only promote products that your business is well known for. Don’t experiment on new products as it is time for sale not for new experiments. If you want to make more sales on this holiday season, focus on your internal products.
- Offer Hourly and Sign Up Deals
Another best strategy that can give a boost to your holiday sales is offering hourly deals to your customers. Send your customers automated hourly email regarding deal offers with discounts. Implementing sign up deal strategy can help engage customers on your website and can increase your website traffic.
- Offer Enigmatic Savings
Everyone loves to solve the enigmatic puzzle, use this strategy for your Black Friday deals. Contact your customers by sending an email of 10-20 and 50% off. Use call to actions in email and when the customers click on that CTA, they will land on the page that will offer discounts.
- Reward Loyal Customers
Rewarding your existing loyal customers is a good strategy to boost your holiday sales. Reward your loyal customers with incentives and special deals. Offering loyalty benefits to your existing customers as it will encourage the new customers to join your loyalty program. There are many large retail businesses who are giving exclusive offers to their prime customers.
- Offer Free Gifts
Offering customers free gifts with a large purchase is also a good strategy that can help you boost your holiday sales. Encourage your customers by promoting the buy one and get one free deal. This type of strategy help bring more customers to your store. For example, for a large LED screen, you can offer free DVDs to your customers.
It is advised to stock up your inventory before the sales season arise. Make a rough estimate of your customers and stock up the supplies that you think can be enough for the Black Friday sales. Because running out on a product on Black Friday can be worse than anything else. Implement these creative strategies and increase your holiday sales.