Black Friday and Cyber Monday are famous for huge deals and steep discounts. That’s why participating in these days can seem like a big retailer’s game.
But what about independent retailers? Can small and medium businesses reap the rewards (and profits) from these two shopping events? The short answer is yes. If you play your cards right, you too can use Black Friday and Cyber Monday to your advantage.
Retail POS player Vend shares Black Friday and Cyber Monday ideas you could try to boost sales and stand out.
Keep your store looking extraordinary
Even if you’re not actively running Black Friday deals, it’s important to keep your shop in top shape. This is particularly true if you have a physical store in a mall or shopping centre near big chain stores. These venues will see an uptick in foot traffic during Black Friday and some of those shoppers are likely to end up in your store.
Don’t compete with big box stores
Trying to compete with the steep discounts of big box stores will just eat up your margins. So, instead of attempting to match the prices and deals of retail giants, level the playing field by focusing on things that you’re good at.
Identify your assets and use them to attract and delight shoppers. For instance, if you have a neighbourhood shop and strong relationships with customers, why not host a special event in your store? Invite your best customers, roll out some exclusive deals, and shower them lots of attention. Give shoppers a refreshing break from those busy and crowded large stores.
Convenience is another potential strength that you can emphasise on Black Friday. Major retailers may offer big deals, but shoppers often have to endure long lines and wait times to get them. If you can provide a fast and easy shopping experience on Black Friday, you’ll be sure to stand out.
Be strategic with your sales
Many people feel that Black Friday and Cyber Monday would be incomplete without deals, so if you do decide to run sales on these days, be strategic with how they’re carried out. The key is to use Black Friday and Cyber Monday as your angle for publicity and promotions while making sure you don’t take a hit on profits.
One way to do this is to offer promotions that add value. For example, you could throw in a gift when people purchase above a certain threshold. And you could set conditions with your discounts. For instance, offering free shipping with a minimum purchase amount.
Beef up your online efforts
Cyber Monday — which takes place online — will obviously be a huge deal for ecommerce. But did you know that Black Friday gets a significant amount of online traffic as well? This is true now more than ever.
One way to make it clear to retailers that your Black Friday deals are also available online, is to include a banner or hero image on your website’s homepage, that highlights your promotions.
Another helpful tactic is to create sections on your site that are dedicated to these special shopping days. So, if you’re running a Black Friday or Cyber Monday promotion, put all your products and offers in one place so people can see them quickly.
Get people excited beforehand
Generate buzz and excitement beforehand by posting Black Friday and Cyber Monday teasers online. Using social media is a great way to accomplish this, so get on the networks that your customers are using, and post sneak-peeks of your offers.
Engage with people after Black Friday or Cyber Monday
Capture sales after these key dates by running post-Black Friday or Cyber Monday promotions. This is a good way to market any leftover stock and reach shoppers who missed your initial offers.
Team up with other businesses
Connect with other businesses to provide Black Friday or Cyber Monday initiatives and see if you can help each other out. You might consider doing cross-promotions or sharing the costs to market your offerings. These types of team-ups can be very effective.
Stand out by finding a unique angle
Come up with a unique angle with whatever initiatives you decide to run on these days. Remember, plenty of other stores will be running major sales so a generic discount or promotion won’t grab shopper attention.
For example, a great angle could be corporate social responsibility (CSR). Donating a percentage of your Black Friday or Cyber Monday sales to charity could be just the hook you need to stand out and draw in shoppers. So, this coming Black Friday and Cyber Monday, ask yourself: what can you do to spice up your initiatives? What “hook” can you use to stand out?
The best way to figure it out is to understand your shoppers. Put yourself in their shoes, or better yet, ask them about their Black Friday and Cyber Monday plans. Where will they shop? What will compel them to participate? What do they love and hate most about these shopping events? The responses you get will give you the insights you need to craft your initiatives.
If you’re not keen on blanket promotions but still want to do something around Black Friday or Cyber Monday, then why not be more exclusive with your initiatives? Reach out to your top customers and organise a private sale or event for them.