Tips on how a seller can make the most out of Black Friday shopping by smart and strategic planning to gain maximum benefits on this shopping carnival.
Having trouble in preparing for Black Friday?
Well, it’s obvious to get tensed while organizing for the biggest shopping spree of the year.
From a seller’s perspective, there are thousands of thing to take care of – whether it is your inventory, staff, website, sales & discounts, and the list goes on.
You are not done with the previous issue and the next crisis is already here. Being engulfed with all these black Friday sale preparations you might wonder, Is there an easy way to handle this immense pressure?
Don’t worry you are not alone experiencing such scenario.
Let’s Cheer you up a little!
How about I say that there are solutions to all your problems. All you need is smart and strategic planning for the Big Black Friday Shopping.
Before going into any further details you first need to know why Black Friday is the most crucial day for a seller.
There is no denying to the fact that this day is the best key for a seller to connect to the customers.
Falling annually on the day following Thanksgiving makes it the biggest opportunity for customers to begin with festive Christmas shopping.
A recent report from the NRF concludes that last year a total of 700 billion dollars of shopping was done all around the United States. The report further concludes that the average sum spent by an individual customer is 1000 dollars.
That’s really a gigantic amount!!!
One would be a fool not being a part of the busiest shopping day of the year.
I think I have made myself very clear about how Black Friday is the biggest opportunity for a seller to gain maximum benefits, and the best part is that all in a single day.
Let me assure you that if a smart working pattern and proper planning is followed it will be a cakewalk. But you need to be focused the whole time and be prepared to take the hard call when required.
So without any further ado, here’s a list of how a seller should prepare for the Black Friday sale and gain maximum benefits from it:
Black Friday might be a one-day festival but a seller needs to plan ahead to prepare for this big day. The planning needs to follow from a week back and you need to establish a timeline mentioning all the major activities.
You need to be specific and accurate about the date and task to be carried out. If possible mention an estimated time period and a little note for yourself explaining any key point.
My advice to you is to keep things simple and use a spreadsheet like the old-fashioned way. A ‘to do list’ is also not a bad option and to make things clear I might take an example:
Since you are planning to make the most out of Black Friday Shopping, your regular staff will not be sufficient enough to serve.
You need to think big and be prepared for the worst, like if someone called in sick or met with an accident – then what happens?
A report by National Retail Federation shows that around 550,000 seasonal workers were hired by various stores on the Black Friday 2017.
You might not know how the day would turn out to be, so hire as much staff as you need, as they are the ones who will play a major role in making your day special.
Now that is a task that requires experience.
You are the best judge of your own business and no one other than you can know how to perform a task & who is best suited for it.
To keep things moving you have to distribute your task into small chunks and assign it to the individuals you find fit for. Keep the team well informed by making a platform where everyone will report after finishing the task.
Ensure that these two rules are followed-
Up To Date Transport Medium : Black Friday is at that time of the year where there is a shortage of pickup trucks. Due to heavy shopping, the traffic on this day is worst than ever.
So you need to plan ahead and arrange for your own transport medium. In case you offer home delivered products you have to ensure that you have ample resources that might never fall short.
This is something a seller usually fails to accounts for and in the end lacks to get the best out of this day.
Plan your work in a manner that all the importing of goods is done a week before Black Friday, and you have one less thing to worry about.
Stack up your inventory: The sales on a Black Friday is approximately 4 time than any normal day so if you want to sell more, you need to have a stock larger than others.
A week before, take a survey of your inventory and get rid of all the useless things there. This is because you are in desperate need of any space that you can get to stack up your inventory.
It’s really not easy to get an estimate of what your customer demands are until they come to you. So compile as many varieties of products because you need to look at the bigger picture also, you are not only making sales but you are making customers.
Special Sales & Discount: “A customer is attracted towards Discount similarly as a bee is attracted towards flowers.”
Well, this might sound a little cheesy but actually, it’s the truth. No matter how good your product is, no matter what the actual cost price be, the customers will always seek sales and discount.
Black Friday is the time and opportunity to provide them with a discount they can’t overlook. By decreasing the price of an article might cut back a little of your profits, but since the amplitude of customers is increased it will be a step in the right direction.
On a larger scale, you will be making a bigger profit as there will be no competitor to your price.
By now it is quite clear how important Black Friday Shopping is from a seller’s perspective. This is once in a year opportunity which comes with a lot of challenges.
These challenges could easily be met by the plan discussed in this blog.
As a seller, inculcating all the above points while preparing for the Black Friday Shopping will provide you with maximum benefits with no pressure and rest everything will be just a cakewalk.
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