Three tips to capitalise on Black Friday and Cyber Monday
It’s no surprise to hear that Black Friday and Cyber Monday are the busiest shopping periods of the entire year. In 2022, total sales during Black Friday in the UK reached an estimated £12.3 billion, up 8.3% year-on-year*, and with the cost-of-living crisis still ongoing and people looking for discounts, this year’s Black Friday is set to be more competitive than ever.
Liam Crooks, MD of EMEA at Lightspeed, a unified ePOS and payments business that powers ambitious retailers and restaurateurs worldwide, shares his top three tips to businesses in the UK to capitalise on Black Friday and Cyber Monday.
Identify product trends to offer the most relevant discounts
Shoppers will be researching offers and deals, comparing products, and prices from different stores earlier than you might think. Make sure you monitor shopping trends to offer the most competitive and relevant discounts to shoppers. Businesses that do the best during Black Friday and Cyber Monday use their reporting to identify opportunities through segmentation, so go through your reports on your point-of-sale system, or eCommerce site, and have a look at what’s been selling really well throughout the year.
Enable More Human Experiences
For in-person sales, recent research*** reported an increase of 12% in consumer spending in-store for Black Friday 2022, showing that the high street is very much alive and kicking. Shoppers will always want to go out into the world and discover new stores, buy products that make them happy, and soak in experiences. Shopping experiences that are personalised, human-driven, and satisfy the need for a discount, will reap the benefits this Black Friday.
Get Ahead with Marketing
Effective comms is key; engage with your audience to spread the word about your Black Friday deals, be that through newsletters, partner collaborations or affiliate marketing. Leverage the power of your communities on socials, with paid and earned posts, to amplify your store’s reach and create buzz around your promotions.
Approximately 40% of people will leave a website that takes longer than 3 seconds to load** – in the frenzied lead-up to Black Friday, prioritise shop loading times to ensure a seamless shopping experience for customers, helping to prevent frustrations and cart abandonment. And of course, don’t forget to deck out your online store with eye-catching banners that highlight your deals and capture the attention of any visitors.