Do you have an online store? Take note of these tips for retailers who want to scale up and build loyalty during Black Friday, Cyber Monday, and Singles' Day.
This time is perhaps the most important trading period for most online retailers wanting to sell out the year's stock. For retailers worldwide, it marks the beginning of the holiday shopping season and the busiest time of the year. Almost 50% of all Christmas gifts are purchased during the period from Black Friday to Cyber Monday. This year, Black Friday kicks off at midnight on Friday, November 24, 2023.
People flock to the internet in search of good deals and offers, but this year, price alone won't be enough to remain competitive. Even though consumers pay less for products, it doesn't mean they are willing to compromise on poor quality, slow delivery, lack of products, long loading times on websites, and so on. People shop online to avoid standing in line, to have easy access to products, and to have a good selection. The better the Black Friday experience is for customers, the higher the likelihood that they will come back for more. So, for retailers, it's important to be able to meet the increased demand and provide customers with the shopping experience they desire.
There are many things to keep in mind, and this period can quickly become a headache for both online stores and consumers, so it's important to be smart. Here are some tips for preparations, with explanations below:
Focus on smart and safe Black Friday shopping instead of personal consumption. Encouraging excessive consumption may leave a bitter taste for many customers.
Communicate well in advance to make customers aware of your online store's offers during Black Friday.
Build trust by being transparent with pre- and post-prices.
Use different messages for those buying for themselves and those buying gifts.
Keep your customers informed throughout the process until the item has been delivered.
Offer flexible exchange and return policies.
Ensure that you have the right delivery options in place, such as express and home delivery.
Good customer service
When orders start pouring in, it's extremely important that your backend functions like a well-oiled machine and that you have enough people available. To reduce the pressure on customer service, consider implementing a chat or chatbot on your online store to handle returns, complaints, product questions, etc.
When orders start coming in, it is extremely important that the backend functions like a well-oiled machine and that there are enough people available. To reduce the pressure on customer service, you should consider implementing a chat or chatbot in the online store to handle returns, complaints, product inquiries, and more.
It may not come as a surprise, but consumers expect short delivery times, especially during the holiday season. It contributes to a more enjoyable Christmas Eve with satisfied children.
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Many consumers are turned off by online stores with poor return policies and cumbersome solutions. Depending on the industry, 10-30% of online purchases often end up being returned. If a retailer hasn't done a good enough job with the return process, the likelihood of consumers choosing their online store in the first place decreases.
One of the best ways to reduce the volume of returns is to understand why customers are returning items and work to minimize them.
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Remember that many orders during this period are Christmas gifts. Christmas is a stressful time for many, and you can gain a lot from providing good customer experiences during this busy period. It can make a difference between a one-time purchase or a first-time buyer who keeps coming back.
I've already mentioned providing regular delivery status updates, but it's also important to communicate with customers well in advance of the sales period to make them aware of your offers. As many customers don't trust Black Friday deals, it's wise to clearly display pre- and post-prices that customers can rely on.
Only 12% made impulsive purchases while online or in physical stores during Black Friday 2021.
65% responded that most of what they bought were items they had planned to purchase and that they were looking for good deals.
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During Black Friday, there's a lot of competition, and advertising can be expensive and noisy for consumers. It's important to think tactically and from the consumer's perspective. For some online stores, it may be more beneficial to hold off on advertising until after this period.
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Many people will have their first encounter with your online store, and consumers often rely almost as much on personal recommendations. Consumers are often more generous during this period, both with positive and negative reviews. So there's a higher likelihood of more sales during this period if product reviews are in place.
It may be obvious to many, but every year I see online stores faltering due to poor infrastructure or preparations. So make sure your servers are ready for traffic spikes, and spread out your sales offers across several days to reduce them.
One of the most important factors for sales in an online store during Black Friday is loading time. The longer your site takes to load, the higher the likelihood of a higher bounce rate and lost sales.
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If you have been visible for a period leading up to Black Friday, the likelihood of customers buying from your online store increases. This way, you have created awareness, they have seen your logo, your selection, and you are slightly more recognized when the time comes.
Check newsletters, offers, ads, channels, the customer experience in the shopping cart and product search, and talk to some of your customers to find out what they are looking for. That way, you have a greater chance of success with your offers and selling out inventory during Black Friday.
The final tip is to try to avoid some things to make Black Friday go a bit smoother, both for you and your customers.
There are several online stores that have chosen not to participate in Black Friday but instead focus on donations to good causes, support for other businesses that consumers should buy from, advocating for promoting conscious consumption, or Green Friday - which focuses on shopping from small, sustainable stores. So, there are several options.
The time outside or after Black Friday, Black Week, Cyber Monday, and Singles' Day can also be a good opportunity to attract customers with a bit less competition.