Black Friday is coming up fast, and marketers are frantically trying to decide which products to sell. It can be tough to choose the right items, but with a little preparation, you can make sure your business makes the most of this shopping holiday.
Product selection is key when it comes to Black Friday’s success. You want to choose items that will be popular with shoppers, but that also fit well with your business’s overall brand and message.
In this article, we’ll together figure out the Black Friday marketing ideas on how to pick up the right products to sell during this special season.
Let’s get started!
Black Friday Statistic & Overview
Why you can’t afford to miss out on Black Friday
What is Black Friday?
Black Friday is the most important retail sales day in the United States and is recognized as a part of the holiday shopping season. It takes place the day after Thanksgiving Day, usually the final Thursday of November.
To kick off the holiday season, stores often offer hefty discounts during this annual shopping holiday. Some businesses begin Black Friday sales on Thanksgiving Day, and deals go on all weekend.
Moreover, you may feel familiar with the word “BFCM”, but what is BFCM meaning? Specifically, BFCM stands for Black Friday and Cyber Monday, the Monday following Black Friday. Cyber Monday is a 24-hour online shopping event designed to encourage consumers to shop online and is now viewed as an extension of the Black Friday deals.
Why is Black Friday Important to E-commerce Business?
With an increasing number of customers opting to do their pre-holiday deal hunting online, eCommerce shops have a massive potential to attract new buyers and boost their sales volume.
Thus, the Black Friday campaign brings many benefits to e-commerce businesses, including
- Increase sales and traffic since people seek deals and shop for Christmas. Black Friday and Cyber Monday concentrate a lot of traffic and purchases into a short period.
- Clear inventory before the Christmas season. Many retailers use Black Friday as a chance to clear out old stock to bring in newer goods in time for Christmas.
- Quickly obtain customers. New customer acquisition can be costly, but Black Friday provides shops with an opportunity to attract new customers at a critical time of year.
Black Friday 2021 Statistics
Retail sales increased 14.1% over the previous year’s holiday season, reaching $886.7 billion in 2021. This was a new record despite the ongoing COVID-19 pandemic and hurdles from inflation and supply chain interruptions.
Although businesses began offering deals as early as October, the tactics of Black Friday show that it remained the most popular shopping event, with 154.5 million consumers purchasing in shops or online.
How do Black Friday sales work? According to NRF’s Black Friday report, from Thanksgiving to Cyber Monday in 2021, shoppers spent an average of $301.27. To put it in context, the average customer spent $997.79 over the 2020 holiday season. Shoppers anticipated spending $997.73 in 2021 on gifts, decorations, food, and other expenditures for themselves and their families.
In reality, most ‘Black Friday’ searches are performed from US devices. According to Statista, the United States will account for around 21.2% of all searches in 2021.
On top of that, 72% of Black Friday buyers in 2021 purchased something for themselves. This is an increase from 61% in 2019.
Black Friday 2022 Forecast
Black Friday and Cyber Monday 2022 are quickly approaching, so the busiest shopping days for eCommerce will soon arrive. This year, Black Friday will be on November 25, 2022, and Cyber Monday will be on November 28. These are only placeholders for a sale season that will last at least a few weeks.
With the epidemic continuing in effect, growing prices, and the possibility of a looming recession, retailers in both online and brick-and-mortar stores will need to adapt their methods to the current scenario.
First, user experience and trust will be more critical than ever. Customers no longer believe that the best deals are available on certain days. According to a survey of 1,000 shoppers in the United Kingdom, 62% believe Black Friday pricing is no better than the rest of the year. These reasons have also contributed to many shoppers’ lack of interest in BFCM.
To accomplish this, you can:
- Offer genuinely low pricing that isn’t just overblown sales pitches.
- Provide tailored user experiences to potential customers by personalizing the purchasing journey and doubling down on delivering a flawless mobile experience.
Second, as seen in the significant increase of buyers purchasing something for themselves in 2021, this year’s Black Friday prediction is that more people will buy for themselves. So to have a successful Black Friday and Cyber Monday, you should encourage buyers to “treat yo self.” Millennials (or Gen Y) are one of the most critical categories of self-gifting shoppers to target.
Third, multichannel marketing is still one of the Black Friday trends in 2022. The more nets you have in the water, the better your chances of catching a fish. So, what other Black Friday 2022 trends do we have? Promoting your BFCM offerings across all your marketing platforms gives your customers more ways to learn about your brand and seasonal deals.
You can, for example, increase Black Friday sales using SMS, email marketing, and social media. While SMS is the traditional way to notify customers about special offers, email, and social media are where your creative talents flow.
Black Friday products choosing | Black Friday marketing ideas
Based on sales goals
Clearances: To minimize inventory from last season, the clearance sale during Black Friday is one of the excellent prime deals. For example, leftover summer items will be difficult for you to sell in the winter; next year, they will become out of trend. Therefore, a clearance sale is a way to help you recover a part of your capital instead of leaving the goods in the warehouse. Instead, you’ll have room to pick new items.
Getting rid of stocks: You want an item’s stock cleared. Your business no longer sells the product; you want to clear out the existing inventory before bringing in new inventory. If you have unwanted inventory taking up space that should be given to more recent or popular stuff, offering a discount on those products might be an appealing, viable way to get rid of them with some profit.
New sales peak: Discounts might entice people to take a closer look at your store, including those who were previously uninterested.
Budget-conscious customers frequently notice well-structured, expertly presented sales reductions. If you can meet those requirements, you may be able to attract new, potentially brand-loyal customers who might otherwise go unnoticed.
Moreover, you can provide discounts on a few items from each category. Word-of-mouth publicity indicates a lot of demand in the segment where you offer steep discounts on things. When a consumer enters a sector, the likelihood of purchasing other items from that segment improves dramatically.
>>> Read more: How does FOMO impact social engagement and how to take advantage of it?
Based on market research
According to Storenvy, sales success entails giving the right product at the appropriate time and location to the right consumer. The proper product selection drives not just the dynamic expansion of large corporations but also the growth of small businesses.
To do this, you need to research market trends and your competitors.
To have a successful campaign, you must stay current on recent, emerging products and services – and then build an eCommerce site to capitalize on them before they reach peak popularity.
Early jumping on Black Friday trends can give your company a tremendous advantage as a small business owner. You’ll have the chance to own SEO (search engine optimization) keywords and position yourself as an industry leader early on.
Consider products or services that have been popular in recent years.
Furthermore, know what your customers want and stick to a niche where you’re currently earning sales. Black Friday is the time to highlight your best-selling items, and too much testing can cost you sales. You may even start the holiday season early by offering Christmas-themed clothes to the late gift-giving crowd.
When picking products for Black Friday sales, don’t take chances. Back it up with data to prove that there is a market for these products and that buyers are looking for them.
Amazon is the first resource you will use for your study.
It has thousands of products and is the world’s largest eCommerce store. Fortunately, it is also a goldmine of free data that you can scrape to assist you in making decisions for Black Friday 2022.
Its search engine is not only complete with autocomplete recommendations but its product categories may be utilized to find Cyber week trends with a smaller group of users.
Understanding competitors’ activities allow you to stand out from the crowd.
Mapping the competition Black Friday marketing strategies. Do they incorporate best-sellers, or do they leverage clearance sales?
And, of course, understanding pricing methods is critical to avoid future price wars that benefit no one in the long run.
When determining what buyers want, mining competitor customer reviews for first-hand knowledge of users’ preferences is a vital exercise. It may assist in deciding which things should and should not be included in the Black Friday promotion and identify potential market gaps.
Dropshipping edition – Black Friday marketing ideas
Choose the right product to dropship on Black Friday
Of course, some products on Black Friday have more potential than others. Here is the recommended criteria to consider a winning outcome for dropshipping in a high-ticket, high-volume sales season:
- High-profit margin: Choosing the right product to sell is essential for any business, but it becomes even more critical when you’re dropshipping. With such low margins, choosing a high-profit margin product is necessary. Black Friday is the perfect time to find high-margin products. By carefully monitoring pricing trends and evaluating which products are selling well, you can find items that will be in high demand but have a low cost of goods. With careful planning and execution, Black Friday can be an excellent opportunity to boost your Dropshipping business.
- High perceived value: From the customer’s standpoint, highly perceived value goods are expensive. Watches, cosmetics, fragrances, drones, smart home gadgets, and kitchen appliances are a few examples. These goods are fantastic to offer on Black Friday since you can give them a significant discount.
- Medium- or High-ticket products: People who aren’t in a rush to buy a specific item or don’t have the money to do so occasionally wait purposefully until the Black Friday sale. Since they are the most expensive, high-ticket items experience this most frequently, though it can also happen with medium-priced items.
- Evergreen products: Products that maintain a consistent level of interest throughout the year are said to be evergreen. Because consumers have already shown interest in these products throughout the year, they frequently perform pretty well on Black Friday. Therefore, they already intend to buy, and the additional discount frequently encourages them.
Following this checklist, you’ll have a 50% chance of succeeding this Black Friday dropshipping season. How about we take it to 70-90%? Let’s explore!
Test the actual demand for your Black Friday dropship products
Tip: you can apply this method to almost every product to check up on the viability of your products. All you need is a landing page and $10 to spare. You’ll have the answer to the following questions from conducting such a test:
- How users will search
- What attributes do they hope the upcoming release will have?
- Which marketing tactics are the most successful for our sample group?
Design a landing page:
You will find the blueprint and the most recommended practices to render a killer landing page in this eBook.
Set up and analyze Google Ads:
This is the bread and bottle of this section, but it’ll take no rocket science knowledge to do. Follow these steps one by one:
Do keyword research:
Utilizing Google’s keyword research tool is one of the quickest and most affordable ways to determine a product’s market value. You may find out how often a particular term or phrase has been searched for online using Google’s Adwords research tool over the last month. You need your SEO game to peak once Black Friday starts.
For instance, if you sell laptops, you can use the keyword tool to discover how many people looked for “laptop computers” and all similar phrases in the previous month. The better your search term, the more detailed it should be. A more specific phrase, such as “refurbished Dell laptop computers for sale,” is more likely to give you a real sense of market demand.
Another great place to conduct your initial investigation is Google Trends. You can use the free tool to estimate the trending search traffic for particular themes or even individual search phrases. The trajectory of this interest over time can then be examined.
Set up your Google Ads Account:
Let’s go straight to the source and follow Google’s official guidelines to set up the ads account.
Understand your data:
. If you have made a mistake with your keywords, ad copy, or another test element, micro-testing with Google AdWords will make it abundantly evident.
Above are statistics of BFCM and the best marketing ideas for Black Friday Cyber Monday. If you’re looking to get the most out of your holiday season sales, you need to start planning your marketing strategy now. With all the tactics and marketing ideas for the festive season, we guarantee that you can make your revenue boom this year!
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