Everyones preparation will vary, but the common denominator for all retailer is stock levels. Whether you’re an online or offline retailer or both, it’s crucial to make sure your stock levels are sufficient, to deal with demand so your Black Friday deals don’t come to a halt!
Now, it’s not as simple as going crazy and stocking up on every SKU, because you don’t want to lose money by over ordering. So here’s what to do.
If you outsource your fulfilment don’t sit back and think it’s someone else’s problem, keep an open line of communication with your provider. In most cases, fulfilment companies provide access to warehouse management software, enabling you to check your stock levels. This information will allow you to make informed decisions about the items you choose for your Black Friday promotions.
The products you promote may not necessarily be your best sellers, you might decide to pick slower moving lines as an opportunity to clear this stock out of your warehouse to make way for lines you have planned for the new year.
Make sure you can deliver on your promises to the customer. Ask your fulfilment warehouse if they will be able to keep up with an uplift in demand, especially if you have a same day dispatch policy.
We’ve all either had first hand experience or seen the headlines from last year declaring website crashes for some of the biggest retailers online! Lets make sure this doesn’t happen to you.
Admittedly, you are unlikely to see the spike in traffic that the likes of Amazon, Currys and Argos experience, but that’s not to say you don’t need to prepare for the increase in traffic to your website. Ask your website hosts for help, they’ll be able to tell if your website can cope with a sudden increase.
Security! Make sure it’s up to date, there is always an increase in fraud around key retail dates. Keep your customers safe and your website secure.
Why will customers choose you?
What will make customers choose you over the bigger retailers like Amazon? If your selling a completely bespoke product then you can sit back, but if your competing on similar products you need to give the customer a good reason to spend their money with you.
Here’s some ideas to attract potential consumers and stand out from the crowd:
– A portion of the proceeds could go to charity
– Add a personal touch to each order
– Take a slow selling product and use that as a give away with each purchase
– Use social media to promote and push your Black Friday deals
Start your promotional build-up now and let word spread before the big day!
Lastly, take advantage of Small Business Saturday on the 3rd December. Why? Although Black Friday is over, that doesn’t mean people are not still looking for that perfect Christmas gift. Getting involved provides an extra means of getting your business noticed.