Are you ready for Black Friday and Cyber Monday?
Black Friday and Cyber Monday are the two big sales events of the year, described as the pre-Christmas day shopping spree where consumers are willing to spend in preparation for the Holiday seasons. Many retailers and big manufacturers participate in this event. Pressured with the competition, businesses come up with various sales gimmicks which make the event crazy with sales and discounts irresistible to consumers.
The BFCM sales bonanza had been a hit in previous years. The telegraph.co.uk reports – The Center for Retail Research shows that on BFCM 2016, Britons alone spent a whopping 5.8 billion pounds. Online retailers took around 2.8 billion pounds of this figure, which is a rise of .5 billion from 2.3 billion pounds in 2015. It’s a celebration for online sellers and resellers, knowing that consumers now fully embrace the idea of online shopping.
“Britons spent a record £5.8 billion over the four days between Black Friday and Cyber Monday 2016 – an increase of 15 percent on last year, according to VoucherCodes.co.uk and the Centre for Retail Research (CRR). Online retailers took approximately £2.8 billion of this – up 20 percent from £2.3 billion in 2015, according to the data.” – Telegraph.co.uk
Practical Ecommerce Sales Report of BFCM 2016 shows that consumers spent a total of $12.8 billion online in the United States alone. A whopping 15 % increase from the sales of 2015.
“Amidst concerns that election results would dampen November holiday spending, consumers expressed confidence in the economy by spending a total of $12.8 billion online in the U.S. during the five-day period from Thanksgiving Day through Cyber Monday, according to Adobe Digital Insights. That represents a 15-percent increase over 2015. Nevertheless, that figure pales compared to the $17.8 billion spent online on China’s 2016 Singles Day on November 11.” – Practical Ecommerce
The big sale event happens usually the day after Thanksgiving. But some companies would rather give out their own sales gimmicks before the big sales event. Black Friday is set to happen on November 24th this year followed by Cyber Monday on November 27th.
For any online business, the most income generating season of the year is the holiday seasons. It is at this time of the year that retailers are able to make up to 40% of their income in just the last quarter. Therefore, merchants should be prepared and planning ahead is essential.
At this time, you should already have started planning. As per Google trends, people have started searching for Christmas gifts in the beginning of August, which is a good indicator for online businesses to start planning for the holidays.
Your stocks and supply
As a drop shipper, you must anticipate about your stocks. During big events like BFCM, the number of stocks goes crazy, meaning it goes rapidly in and out of stock. To make you better prepared for the upcoming big sales event, consider working with multiple suppliers. Enlist more than one supplier of the same product.
Your store eBay store template
Let your customers know that you are participating in the Black Friday and Cyber Monday events. Change your eBay store template to Black Friday themed graphics. Great visuals make a big impact on customers checking out your store.
How Should eBay Drop Shippers Prepare for Black Friday and Cyber Monday
As customers are getting ready for serious shopping, retailers, merchants, and even drop shippers should be doing the same. Here are some considerations to prepare your store for the upcoming sales events of the year.
Use the right Keywords in your Item Titles
Use the keywords, Black Friday and Cyber Monday to your titles a few days before the sales event. It is a good idea to use the same keywords in your item descriptions and item specifics as well. Doing so gets your listings indexed out and places your listings high in search results. Learn more about Effective eBay Listing Titles that Work.
Item description, blog posts, and advert copy
Make sure you have written your item descriptions already. And if you have a blog, make sure that you have a blog post to update your customers about what you have in store for them for the coming sales event.
Store Graphics and Black Friday Templates
Do you have store graphics? If you don’t have one set up already, then it’s the best time to have store graphics to give your store an edge during the sales event. Remember that shoppers and customers are more visual and are driven by good graphics.
Set an end of the year inventory sale
This is your chance to sell items that had a few sales within the year. By providing discounts on these items, there is a better chance that it is going to make a big hit in the last quarter of the year.
Considering that the holiday season is the best time for gift giving, do you have items that you can bundle up and make a great gift? Think outside of the box and create bundles. Bundles create an illusion of great savings.
This is very basic, but this is one of the reasons that customers will love your store. Customers love freebies and adding free shipping into your package makes your listing stand out among the rest.
Many merchants and retailers take the big sales event as an opportunity to cross-sell relevant items. For instance, if your store sells electronic items and you planned to give discounts on your batch of headsets for the big sale, then you can cross-sell related items such as speakers or Bluetooth headsets.
Design a mail-out campaign
Do you know that it takes less effort to sell to existing customers compared to selling to new customers? Based on this concept, reach out to your existing customers by starting an email campaign. Include teasers, special coupons, and discounts. You should also include the when the sale begins and when the sale ends.
Learn about eBay promotions features
This is the right time to set your prices a bit higher and set a promotion for your listing. Set your prices at 20% higher than the regular price, and then give a discount at 20% off on that day.
“You can use promotion boxes to help advertise your items in your eBay Store. Promotion boxes are graphic displays that you can use to highlight featured items, announce specials, or describe alternative ways to browse your items.” – eBay
Check out the video below for other cool eBay promotion features that you can do.
Top items to sell on Black Saturday Cyber Monday based on 2016 BFCM
Are you wondering what other products you can add to your store that has record sales in the past BFCM events? Based on the 2016 BFCM event, these particular items below made a big hit. It could be a good idea to sell items in the same category with hopes that it will deliver the same sales figures as it did last year:
Among the best sellers in technology and electronic items were the Sonos Play 1 smart speaker. It has practically sold one unit per 10 seconds. Other products that were a big hit in last year’s big sale event were the following:
- Google Chromecasts
- Game consoles
- Large kitchen appliances
- Lego Simpsons house
- Marc Jacobs perfume
- Samsung tablets
- Sophie Conran crockery
- Television sets – considered a hot item
Black Friday-Cyber Monday is a big event for many merchants and buyers alike. When you finally get your store and campaigns ready, be sure to test and analyze. While driving traffic to your store is essential, the bottom line is how traffic converts. The key to a successful conversion that leads to revenue is by keeping a good line of communication, using the right tools to deliver quality products and great customer service.
- Kfir is a Co-Founder and the CEO of DSM Tool. He is working with eBay since 2008 and 8 years later in 2016 joined the founding team of a revolutionary drop shipping management platform - DSM Tool. He has a B.A in Business and Entrepreneurship from IDC Herzeliya. Kfir also plays the drums and owns a dog named "Bamba".