The last months of the year are the occasion when the shopping market becomes more vibrant than ever. Especially with Black Friday, a time that both retailers and customers look forward to because this is the biggest sale of the year. This is advantageous for sellers because it opens up a golden opportunity to maximize profits for the store. During this particular time, the revenue of online businesses often sees explosive sales records. In this article, we would like to introduce the beginner guide on how to sell stuff online this Black Friday 2023.
What products to sell on Black Friday?
Black Friday is a time when people rush to buy products whether they need them or not. In other words, impulse buying is most strongly expressed during this time. However, there will still be a few products that retailers are encouraged to focus on clothing, technological products, decoration items, and home appliances.
Clothing on weekdays has been one of the most consumed products with huge sales and profit figures. Therefore, sellers cannot miss a great opportunity for this outstanding holiday. Especially for offline stores, this is the right time to expand your store to prepare for that biggest shopping spree. This will be the time to attract many consumers, especially women.
Besides clothing, technology products are also of interest to many consumers. On weekdays, technology products often have quite high prices and buyers will be quite hesitant to buy them. They will target Black Friday to buy the product they are interested in. Therefore, businesses also need to prepare their technology products carefully. Electronic devices such as watches, laptops, phones, and cameras are often the best-selling items on platforms.
Home decoration products are also of interest to many customers because Black Friday usually falls at the end of the year and is the season of festivals. Families often want to buy products to decorate their homes. Therefore, they will not miss the opportunity to buy decorations at a cheaper price. Along with that, furniture products or household appliances also have a huge consumption volume. Household items “hunted” by consumers are often electric stoves, hoods, washing machines, dishwashers, etc…
How do you sell stuff online this Black Friday 2023?
Prepare the store for Black Friday
Businesses need to learn how to sell stuff online on Black Friday. First of all, they need to prepare their store well.
For an eCommerce business, sellers need to take care of their website. Customers often expect a website to load quickly during such a busy shopping season. The ideal loading time is usually from 0 to 4 seconds and longer times will reduce the buyer’s closing rate. Therefore, businesses can optimize their website to prevent this from happening.
For multi-channel stores, what they need to prepare is the quantity of goods and products in stock. Retailers need a tool to help manage the data on the same platform. In particular, inventory management is extremely important. This management will help sellers predict psychology and prepare enough goods to serve a large number of customers.
To prepare for the boom during this great shopping occasion, businesses also need to pay attention to the incentive programs they will offer to buyers. To successfully execute marketing programs, businesses can increase their visibility on social media sites as it is a powerful marketing tool that can greatly influence consumer’s purchasing intention. These media sites are now the main and direct channel of interaction with the audience. Besides, sellers can use social networks to listen to customers’ needs and help them stay satisfied throughout the event.
Campaigns such as upselling or cross-selling are also good ideas to help store sales and profits explode during this holiday season. However, sellers need to consider the most appropriate campaign for their product and then make the correct decision.
Reduce cart abandonment
Cart abandonment refers to a customer adding items to their cart, proceeding to checkout, but exiting the page before completing the transaction. This is one of the common problems faced by e-commerce businesses, causing them huge losses. To reduce this ratio on major shopping occasions, retailers wanting to know how to sell stuff online can run campaigns to ensure shoppers come back and buy the items. They can send email or text marketing reminders with catchy and straight-to-the-point subject text reminding recipients that they’ve left something and with a discount code to increase their chances that they’ll complete the purchase transaction.
In addition to accidentally abandoning the cart, shoppers often consider adding additional costs such as taxes, shipping costs, and other fees to the cart so that customers can pay for the transaction immediately. Retailers should be transparent about prices from the beginning so buyers know how much they will spend. At the same time, they can make payments quickly and easily by ensuring customer checkout is enabled and only asking for the most relevant billing and shipping information.
Optimize processes
Process optimization in the approach of how to sell stuff online is a good way to be able to analyze and improve business processes promptly for maximum efficiency, performance, and quality. For Black Friday, the goal of optimization is to reduce waste, increase productivity, and ultimately improve the organization’s bottom line. Businesses need to optimize the ordering and order acceptance process to achieve the desired revenue. Accepting orders through sales channels will help consumers easily buy the products they need without wasting time waiting. Besides, the inventory management process is also very important to be able to synchronize quantities and products to make the most accurate purchasing and sales decisions. Notably, today’s customers also always need a fast, safe, and accurate payment process. Therefore, stores need to optimize this process and allow various payment methods to enhance the consumer experience.
ConnectPOS is a point-of-sale solution that perfectly supports businesses in their business processes so they can achieve maximum benefits during the biggest shopping season of the year. It offers complete features for order fulfillment, inventory management, payment process optimization, and customer management. Users can execute the campaigns they desire with the support of this software solution.
Conclusion
Retailers always want to know how to sell stuff online, especially during Black Friday so they can achieve maximum profits and sales. To fulfill this need, sellers need to carefully prepare their store. If you are looking for a support tool, feel free to contact us.
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