One of the busiest shopping weekends of the year is coming up — Black Friday.
While Black Friday, happening this year on November 29, used to be a one-day event, now it’s a four-day shopping blitz (at least – some retailers do longer!). If you’re not prepared, you may fall behind the competition.
And being prepared means having your in-store presences and your e-commerce marketing ready.
As we approach November 29, ask yourself the following:
- Have you completed an inventory assessment?
You don’t want to be caught unaware, especially if the retailer is hosting a sale or a number of online purchases come in.
Having an accurate picture of your inventory levels before the rush will make it easier to plan. Check:
- Current levels.
- Phantom inventory.
- Inventory that is sitting in the backroom and not out on shelves.
- If pricing is correct.
In addition to checking before Black Friday, we also recommend doing another check over the Black Friday weekend. Even if your records indicate there is inventory in stock, it doesn’t necessarily mean it’s being put out on the floor.
- How quickly can you restock inventory levels?
Another consideration to make is that if you need to re-stock inventory over the Black Friday period, how quickly can you be there? During this crucial time, if shelves are empty, you’re likely missing out on sales – and revenue.
If you can’t guarantee quick service for your coverage areas, consider engaging a support company (like Storesupport!) to manage it for you.
- How do you want your product to be represented in-store?
Think, too, about how you want your product to be represented in-store. Do you have special signage or displays for Black Friday? If a retailer is hosting an in-store sale, is there a way you can take advantage and boost your product even more?
- Is your product represented online?
Sometimes manufacturers leave it up to the retailers to handle their own e-commerce platforms. But that can be a mistake. Just as you take control of your product in-store, you need to take control of it online, too — especially for Cyber Monday.
According to a survey done by the Retail Council of Canada, in 2018 Canadians planned to spend $675 on average holiday spending in 2018. And 30% of respondents planned to take advantage of Cyber Monday deals (in contrast 40% planned to take advantage of Black Friday deals).
Different retailers have different e-commerce presences. You need to make sure that your product information is correct and appealing across the board.
- Is the price right?
- Is enough information provided?
- Is there room to provide more? For instance, if your product needs to be applied (like wallpaper or clothing) could you show pictures of it on a full wall or on a person?
- Are the photos high-resolution?
- Is it optimized for search engines?
And then there are your own social media presences and promotions to consider. Are your sales aligned across platforms? Can you communicate with your audience from your brand account where deals are happening and when?
An aligned message can help achieve your revenue goals!
This Black Friday and Cyber Monday make it easier than ever to manage your brand in-store and online. Storesupport Canada offers many solutions, including in-store merchandising, rapid response services, a store sales force, retail audits, and more.
Contact us today to build a customized solution. Call 1-877-421-5081 or visit www.storesupport.ca.