Black Friday/Cyber Monday is fast approaching and at Portfolio Home, we believe the key to success is in preparation. Black Friday/Cyber Monday continues to be one of the most pivotal time’s in the retail trading calendar as customers brace themselves for a shopping extravaganza with particular emphasis on online spending this year!
1. Plan ahead with Portfolio Home
Although it seems relatively early to start your planning and preparations for the end of November, this year we’ve seen increased online consumer demand for household goods – not to mention bedding, throws, curtains and cushions in particular. With increased demand from consumers who are poised to spend an average of £224*, sourcing stock could prove difficult if you’re leaving it too late. We recommend placing orders in advance with suppliers to support the best promotions that will help your business drive sales. At Portfolio Home, we have a wide range of available stock to help you make the most out of BFCM weekend.
2. Let your customers know you’re doing Black Friday/Cyber Monday
It may sound obvious but, informing your customers at the right time will ensure they come back to check out your promotions. As part of our service at Portfolio Home, we provide product details alongside hi res images of our products to support your marketing efforts so your customers will know exactly what to expect on that weekend.
3. Communicate urgency drivers coupled with discounts
Many Black Friday/Cyber Monday purchases will be done on impulse based on the discounts offered. To help encourage consumer spend, we suggest planning ahead to stress the rarity or limited stock positions to get your customers closer to a decision to buy. Last year, 77%* of purchases were done online so we suggest online retailers use tactics such as countdowns, stock availability and how many customers have viewed or purchased products in the last 24hours. Ultimately, appealing to their fear of missing out.
What to do when the extravaganza ends
According to PwC, after Black Friday/Cyber Monday, returning to full price and adding new lines will entice custom in the run up to Christmas. At Portfolio Home we have continually trending items arriving every month and with over 40% of consumers doing Christmas shopping in December, Portfolio Home are well positioned to enhance your product offering with new and exciting products in one of the most significant trading periods of the year.
Contact our team on 0161 320 2121 or email firstname.lastname@example.org to request more information