Preparing your shop for Black Friday
Category Industry News
South Africans have a reputation for being savvy shoppers, eagerly seizing any opportunity for a good deal. Statistical evidence reinforces this, with data from First National Bank and PayFast revealing a notable increase in Black Friday sales in 2021, ranging between 15% and 30%. As Black Friday is just around the corner, it's crucial for retailers to start preparations now to capitalise on this significant retail event. In this article, we provide comprehensive guidance for retailers to attract customers and ensure their premises are ready to maximise the benefits of Black Friday.
Getting started
Black Friday is renowned for being one of the busiest selling periods, characterised by an influx of customers and surging order volumes. To prevent chaos and maintain control over operations, meticulous planning is paramount.
For retailers with an e-commerce presence, it's imperative to ensure that your website is updated and functions smoothly. A study by Unbounce revealed that 70% of online shoppers consider page speed when making purchase decisions. If your e-commerce platform is sluggish, it's advisable to consider switching to a more efficient provider.
Consider initiating the promotion of your Black Friday deals weeks in advance to generate anticipation among your customer base. Building brand awareness in the run-up to the event is crucial to ensuring that customers remember your business when Black Friday arrives.
Prepare your discounts
To differentiate your offerings from competitors and maximise profits, you should carefully plan your discounts. Offering products at a 50% markdown is not the only way to attract customers. Consider providing discount vouchers that customers can redeem on future purchases, or offer less popular products as freebies to incentivise purchases.
In your discount planning, remember to cater to your VIP customers. Exclusive deals tailored to this group will make them feel valued and recognised as VIP clients.
Strategise your staff
When scheduling employees for Black Friday, ensure they are well-trained and equipped to address customer inquiries effectively. It's advisable to have your most experienced staff members on the sales floor to deliver quality customer service. Depending on the expected surge in workload, consider hiring casual staff to support your permanent employees in the days leading up to and on the day of Black Friday.
Create back-up plans
Murphy's Law has a knack for presenting itself at the most inconvenient times. To ensure smooth operations on what is known to be a chaotic day, anticipate various scenarios, including selling out of popular items, customer disputes, employee illnesses, emergency situations, or even technical malfunctions. Having both preventive and contingency plans in place is essential to deal with unforeseen challenges effectively.
Quick service
Enhance the shopping experience by implementing efficient checkout processes. Portable point-of-sale (POS) systems, such as iPads, allow for additional checkout centres. Customers will appreciate shorter queues, which saves their valuable shopping time, and you'll experience a smoother workflow. Faster checkouts translate into increased sales within a shorter timeframe, optimising your profits.
Black Friday presents a significant opportunity for retailers to optimise profits, clear old stock, and promote brand awareness. By implementing the tips and advice provided in this article, you can position your business to reap the rewards that Black Friday offers to retailers and business owners alike. Preparing diligently, offering creative discounts, training staff and having contingency plans in place will help you make the most of this retail phenomenon in South Africa. Harcourts Dunn Commercial are available to assist you with all of your commercial needs and provide you with exceptional service on your commercial, retail and industrial rental journey. Contact us today and find out where you belong.
Author: Harcourts Dunn Commercial
