How to improve your sales this Black Friday10 Nov 2020
Despite this year being a year like no other, Black Friday is said to still go ahead as planned on the 27th November 2020.
With the knowledge of the recent COVID-19 lockdown, it is obvious consumers are going to take a different approach to the usual physical in-shop scramble associated with Black Friday. As more businesses are moving online, what can yours do to bolster sales this November?
People love experiences! If COVID-19 has taught us anything, it is the importance of spending time with loved ones. Gifting a voucher for a wine tasting, a free starter, beauty treatment or hotel stay gives somebody something to look forward to.
Supplying these kinds of vouchers in your Black Friday sale allows people to gift their loved ones for coming birthdays or Christmas. Make sure to pick appropriate expiry dates – pick the less busy periods to ensure sales are upkept!
It’s wise to keep voucher dates long, due to the current high levels of uncertainty regarding the pandemic lockdown restrictions. It is also advisable to communicate with customers regarding flexibility with your vouchers terms and conditions, assuring them of their viability in potential future lockdowns.
Discounts on monetary vouchers
A clever tactic to use over the Black Friday period is to offer a reduced price for a monetary voucher. For example, a voucher normally costing £50.00 could be sold over this period for £45.00. This will be a strong incentive for people to buy during Black Friday period, rather than later towards Christmas time.
A smart strategy running up to Black Friday is to give away a free gift voucher when a customer buys one. This allows the customer to give the gift voucher away to a friend, meaning not just one, but two customers will return to your store to redeem! Additionally, it is common knowledge that people will often spend more than the value of their gift card, so it’s a win win!
Shift old stock
By supplying item and service- specific vouchers, you will be able to bolster your revenue in areas that have previously been poor. Sell vouchers for specific goods – perhaps ones with a shorter use-by date- to ensure nothing is wasted. Setting redemption for non-busy period is another tactic to ensure sales at times where there is less demand.
Vouchers as ‘gifts for others’
63% of Black Friday purchases fell under the category of ‘Gifts for others’. Selling gift vouchers in your company will enable those looking for gifts to come to your store. Make sure these can be redeemed only in the quieter months, such as January and February.
With COVID-19 changing the way consumers think and shop, businesses must adapt and be creative in the ways they supply their goods and services. Black Friday is just one occasion we can start to practice these alternative forms of selling. Using gift vouchers and gift cards is a tried and tested method to bring in that extra income over this period. With the current economic climate, people are looking for deals, so give them deals! They will reward you with their cash. Make sure you promote yourself and your gift vouchers via social media and email marketing on the run up to Black Friday to ensure maximum visibility of your products and services.
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