Black Friday, or the day after Thanksgiving, signals the beginning of the holiday season. Last year on Black Friday, consumers spent $12 billion at brick-and-mortar stores and $1.9 billion online. As a retailer, you can’t ignore a weekend that can potentially earn 50 percent of your annual income.
To maximize profits on this important occasion, leverage the power of social media to inform customers about special discounts and early-bird sales. Stock up on inventory, especially best-selling items, and utilize a cloud-based POS system that keeps transactions moving, even when the internet is down.
Here are 3 more tips to keep you at the helm of the Black Friday rush:
Ramp up tablet and mobile sales. According to CNN, 2013 sales on mobile devices grew by more than 40 percent from the previous year. “Ensuring that search, product detail, and reviews work well from smartphones and that the entire shopping process is optimized for tablets is a key objective,” Ken Godskind of SmartBear Software tells Nerdwallet.Walmart took advantage of the online shopping trend last year to help avoid Black Friday chaos in store. The mega-retailer offered all its in-store sales online, as well as free shipping for 99 percent of items ordered online.
Improve the shopping experience. If you are a small business owner, it’s difficult to compete with the deep discounts that big-box stores can get away with. But customers want more than bargains on price tags—they want value, and that’s where you come in. Get customers excited about shopping with the likes of goody bags and refreshments for shoppers—a nice change of pace from department-store mayhem. Boutique shops can go the extra mile with extended hours, flash sales, and a festive environment.
Prepare for the extended version. Beyond just a single day, “Black Friday” begins as early as Thanksgiving Day and lasts through Cyber Monday. Stay competitive. Prepare to keep the offers coming and maintain high customer engagement through the long weekend. In addition to percentage off coupons, offer incentives to returning customers with the likes of Revel’s loyalty program to track spending and customize your rewards.
Got crowd control? Move people in and out of your store safely and efficiently. Reduce congestion with appropriately placed merchandize and a robust POS to handle all of those transactions. Whether you are an online store, single storefront, or brick-and-mortar chain, Revel Systems has the features and flexibility to accommodate your needs.