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Here’s how retailers unlocked high volume sales during Thanksgiving

29 Dec, 2022 | Sales

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Black Friday 2022 has come and gone. Traditionally the start of the holiday shopping period, this day-after-Thanksgiving shopping bonanza has grown in recent years to include the weekend and the following Monday, days that are now referred to as Small Business Saturday, National Second Hand Day and Cyber Monday, respectively.

According to the National Retail Federation, this year 196.7 million people shopped during the four-day period, surpassing pre-pandemic numbers, while according to Adobe Analytics, total spending was $35.3 billion, with the majority of that being spent on Cyber Monday. Clearly, then, this year has been a resounding success for retailers as a whole, especially for those in ecommerce.

The underlying idea of this Christmas-shopping kickoff is to get people into a buying mood, to encourage them to spend money on gifts and themselves up to Christmas Day itself; and this is done by offering deep discounts for that long weekend only. But while shoppers know the long Black Friday weekend is about bargain hunting, it’s important for retailers to prepare them, to entice them. There are established methods for doing this.

In this blog, we’re going to explore those established methods.

 

7 Proven methods for boosting Black Friday/Cyber Monday sales

1. Creating hype

Hype is created by letting prospective customers know about the discounts being offered way in advance. This is done by advertising on every available platform and channel. Eye-catching signs that say, “only ten days before Cyber Monday,” are added to websites and social media pages, while signs that say the same for Black Friday are put up in  brick-and-mortar stores.

It’s never too much, because customers inundated with offers from a particular brand are more likely to buy from that brand.

2. Generating urgency

Similar to Creating Scarcity, this is FOMO – Fear of Missing Out. As a marketing tactic, it plays into human nature: when people feel they could be passing up a great offer, they’re more likely to jump at the chance of getting it.

Of course, Black Friday/Cyber Monday are all about FOMO because the discounts are only available for those shopping days. With that in mind, successful retailers let shoppers know how much of a deal they’re getting. This can be done by putting up signs that say “50% off” or “was $75 now $50. Today only.”

3. Publicizing customer reviews

When it comes to ecommerce, a survey shows that 95% of shoppers check online reviews before making a decision to buy something, and 58% will pay more for products that have good reviews. That’s according to Globe Newswire. This rule also applies during the Black Friday weekend, and since shoppers are being enticed everywhere they look at this time, reviews next to all the items up for sale and visible in the weeks leading up to the sale are a given.

4. Carrying out A/B testing

A/B testing, also called split testing, is basically a two-way method: two versions of something are put out there, and the one that performs best or gets the best reaction is deemed the winner.

For the retailer, A/B testing can be used for website design and, when it comes to promotions for Black Friday, pre-sale ads.

5. Improving the customer experience

Hubspot reported that 88% of customers are less likely to return to a site that gives them a bad user experience (UX), which is why successful companies make sure their sites  are appealing to look at, easy to navigate, and deliver.

For big sales days like Cyber Monday, these considerations are extra important. Putting up banners ahead of the actual day lets browsers know the offers they can expect. And on the day, the best web pages have vivid, crisp, and simple layouts that clearly show on each item the amount they’ve been discounted for. When it comes to checkouts, having them be basic, simple to work through, and quick to respond is the way to go. It’s never a good idea to ask buyers to set up an account with the retailer, especially on the day when they’re eager to buy; the vast majority will click off a site and move to another if they’re asked to do this.

6. Making it seamless for buyers to go from one channel to another

For instance, a customer might come across a product on Instagram and switch to the seller’s website to make the purchase. An omnichannel system makes this happen. It “remembers” the brand and product the customer was looking at on the first channel, Instagram say, and brings them up on the actual retail site.

DEAR Systems inventory management software can do this effortlessly. If you don’t already have an omnichannel system in place, you really should consider getting it, especially for next Cyber Monday.

 

Final words

By every marker, Black Friday/Cyber Monday sales were great in 2022, and we’ve laid out some of the ways retailers were able to make that happen. Hopefully, your company is in that category, but if your sales fell short of your expectations this year, maybe you’ll find the suggestions we’ve put forward helpful, not only for the biggest shopping days of the year but for any other sales you hold.

If you are in the market for a system that can increase your sales, you should take a look at DEAR Systems. To find out more, call one of our experts today.

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