Help… it's Black Friday soon!By James Barnes, October 11th 2018
As you're aware, probably from a consumer point of view, Black Friday has taken off over the last few years. So much so, in fact, that the event no longer lasts for 24 hours. The time items are on sale for is getting longer each year as the event gains popularity.
If you're new to the industry or new to Black Friday like 1,000's of other companies, you're probably wondering what Black Friday discounts to offer. Hopefully, this article can help point you in the right direction.
Before you decide which promotion to offer your customers, don't fall into the trap that you have to offer 50% off all of your items. Smaller figures like 5% - 10% can encourage people to visit your website, browse through your products and hopefully lead to some extra orders. Even if they don't buy anything, don't worry, you're still gaining something from it — you're increasing your brand awareness.
Some companies think that they have to discount every product they offer – this isn't true. But you do need to review your margins before you confirm which discounts you're going to offer on your products. Our handy calculator will assist you.
Something else to consider before Black Friday arrives is your shipping and returns policies.
Extending your returns policy could result in more people buying from you as they know that they're covered if an awkward family member doesn't like their choice of present. But not to worry, we can't please them all, but you know you've pleased at least one member of that family by having their back, and will potentially turn into a returning customer.
A lot of people love a bargain, particularly if they're getting it in time for Christmas. Many people use Black Friday to buy friends and family Christmas presents. Bearing this in mind, do you need to extend your normal returns policy to cover this period?
Make sure your policies are clearly displayed for people when they're purchasing your products on your site or on your listings. This could be the difference between a sale or not.
You'll also need to decide if your shipping policy will remain the same. Will you make shipping free to encourage more sales, or will you charge so you make a little more profit considering you're discounting your products?
So there you have it That's some of the things you can consider and cross off of your list in preparation for this Black Friday. Good luck, and happy shipping.
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