Black Friday 2022: four tips for retailers
Black Friday is the day that consumers look forward to, when brands from all over the world lower the prices of a wide variety of products and services. The date appeared in the United States and is always held there the day after Thanksgiving, a very traditional holiday for the American people and which strategically opens the Christmas shopping season.
Today we can say that Black Friday has already established itself in the Brazilian calendar, not only in e-commerce, but also in retail in general. People wait for this period to buy different products, which are usually more expensive, with a more attractive discount. For this, retailers are increasingly betting on strategies that need to be prepared, both in terms of increasing demand, as well as gaining new customers, retaining old customers and, of course, increasing sales.
This year, the hottest Friday of the year is expected to generate 5.9 billion BRL in Brazilian e-commerce. Research by the Brazilian Association of Electronic Commerce (ABComm) also points out that the number of online orders should exceed 8.3 million. The hottest categories this year will be: telephony, electronics, IT, household appliances and small appliances, fashion, beauty and health.
It is fertile ground and has already been consolidated in the Brazilian calendar, not only in e-commerce, but also in retail in general over the last few years. Even with stabilized growth, companies from different segments can plan to strengthen their operations on a date that cannot but bring good results.
How to sell more on Black Friday: Check out four tips that really work!
1) Predictability of demand
It is necessary for the company to have instruments that enable the assessment of the increase in sales, that is, questions such as “how much percent does the chain expect to increase sales during this Black Friday?”. Based on this, you can understand the other elements.
When, for example, we talk about the range of products, the entire portfolio of a company must be based on the consumer habits of customers. The retailer should ask himself “which products are sold the most in person?”, “also online?”, “which items belong to class A?”, i.e. which have a higher turnover. Based on this, the company can strategically intensify its efforts in acquiring shares.
2) Brand exposure
Entrepreneurs must understand that in addition to physical stores and points of sale, mainly on the Internet, there is a fertile field for creating specific campaigns aimed at displaying promotional actions.
In this context, the marketer must prepare, for example, to create a structured communication plan that includes different channels, such as social networks and other platforms where the target audience is concentrated, digital marketing campaigns with media buying on Google, Facebook ads, Instagram ads, specific actions with digital influencers, standardization of communication campaigns on the brand’s website. In short, it is necessary to work on all touch points so that consumers are clear about the possibilities of offers available at that moment. Bet on the study of communication and creativity!
3) Competitive prices
In each segment, the entrepreneur should be aware of the market situation, recall the history of the product and look for a price that at the same time offers the consumer the possibility of buying the product at a discount and manages to preserve the profit margin. This is the biggest challenge for every company. That’s the main equation you have to solve when planning for Black Friday.
In terms of promotions, a retailer can study history to understand which promotions made the most sense in their sector, market expectations, and analyze competitors to create situations that are interesting to the end consumer.
4) Efficient and capillary service
The merchant must always prepare pre-sale and, mostly, after-sale service, especially when we talk about e-commerce. If there is an action, for example, launched in digital communication channels, it is necessary to have a ready service team, which knows all the details of the offer, in order to be able to serve the potential customer through means such as WhatsApp, online chat or telesales.
In addition, it is necessary to have people ready to help with problems that may arise after the Black Friday sales, such as possible delivery delays, product defects, wrong shipments, outdated products or many other reasons. The call center is a key point and must always be ready to solve any kind of management problem or crisis.