What is “Cyber Monday” and “Black Friday” and how do we maximise sales?
Ok – Hands up who know what “Cyber Monday” is? And keep your hands up if you know what “Black Friday” is??? For those still standing – please sit down if you do not think this is to do with anything Retail
I am sure you are all aware that this weekend is going to be MASSIVE – this weekend is the last payday before Christmas and when we all realise that we only have FOUR weeks, to get all our lovely friends and family the presents they deserve for Christmas
Friday is a holiday in the USA (due to Thanks Giving) and is when the Americans don their shopping outfits and hit the High Streets and Shopping malls, to buy every bargain they can find – they are normally so tired after the weekend shopping (but realise they have forgotten most of the presents) they then hit the internet and surf all day Monday to buy the rest of the presents
Some Stats on “Black Friday” and “Cyber monday” – This weekend should be the biggest according to research…
Each year you can see that over the weekend the numbers of shoppers has increased in the USA and that is forecast to do so again
And online….
More people are now buying online……..Nearly 68 percent of retailers polled say they expect online sales to grow at least 15 percent or more compared with last holiday season, according to Shop.org’s eHoliday survey.
And, says the National Retail Federation, the average shopper plans to do about 36 percent of their holiday shopping online this year, up from 32.7 percent in 2010.
Five years ago, people weren’t so comfortable entering their credit-card numbers. But many shoppers started with small-value purchases, such as books, and worked their way up to larger-value buys.
And here is the chart…
As you can see there is an ever increasing number of online shoppers.
Now back to the UK – We all know that what happens in the USA also happens in the UK – So, apart from the holiday, we will follow a similar trend…..and hence my question to you is: ARE YOU READY?
This weekend is VERY important for all retailers and you need to make sure all your Retail Stores are looking good, stock is plentiful, the staff are happy and in selling mode, and your website is ready to take all the orders
My Top Tips for this weekend:
- Get your stores looking perfect – Signage, pricing, cleanliness etc
- Make sure your staff are ready and you have good cover over the weekend
- Think about some incentive offers to entice people into the stores or to your website
- Make sure your stock is ready to go and you have as much as you think you could sell
And finally…Have fun….This is the start of the busy season, so enjoy your time and make sure each customer you talk to you gain a little more insight into them and what they want form your shop – this is invaluable feedback and leads to better buying in the future
I hope this helps and I wish you an excellent shopping weekend
I would love to hear your thoughts…Please comment below and let me know what you think
Have a great week and Happy Retailing