Black Friday, one of the year's biggest sales events, is happening on 28 November. Big stores and retail chains will be using the opportunity. But it's also a good time for smaller businesses to attract customers, move stock, and boost their income.
But not all companies have endless resources to sway shoppers. What are the trends that help Black Friday winners stand out from the crowd? It's all about communication, value, and convenience.
Don't wait too long before starting to promote upcoming specials and deals. Most people want to hear about offers ahead of time so they can plan and budget, and fewer than 20% are happy to wait until the week of Black Friday to be told about offers.
Good communication can start with early news of offers, and it threads throughout the shopping experience. A majority of shoppers prefer several channels where they can get information on Black Friday deals and also contact the store. Email, social media, and websites are all popular examples.
However, services like WhatsApp are starting to move to the front because they are more real-time, and they can share rich media like photos and videos.
Budgets are tight, so it's not a surprise that more than two-thirds of shoppers put value as a top priority. They want to get more for their money, which stores can offer in numerous ways.
Most shoppers are transactional, meaning they see value in a good price. This group will appreciate deep discounts, such as clearance items. They also respond to limited-time offers, small gifts when they spend a certain amount, and free delivery. High costs of living also attract more shoppers to discounts or freebies on bulk purchases, such as "buy three and get one free".
Combinations of items or services are sought after. A stationery store can offer a "desk refresh" bundle combining pens, notepads, Post-it notes, and highlighters. A confectionary store can offer combinations of sweets that unlock a 20% discount. Fashion outlets can do the same with different clothing categories, and pet stores can combine food and toys.
Black Friday campaigns attract considerable amounts of sales for local businesses. Last year, South Africans spent over R30 billion during the period, despite financial concerns. Among these were tens of thousands of online orders, hinting that shoppers enjoy convenience.
SMEs that offer convenience will attract more interest and sales. If potential buyers can easily view and collect items, it can motivate them to pull out their wallets. Businesses can send out information about specials, such as newsletters, WhatsApp messages, and social media posts, making it easier for shoppers to know about these opportunities.
They can also look at setting up online stores through platforms like Shopify, Netcash Shop, and Shopstar, via online platforms such as Instagram and WhatsApp Business, or by using a large online retailer's marketplace, like the Takealot marketplace and Bob Shop.
Shoppers also want different payment options, with mobile payments growing the fastest in popularity, and many appreciate shipping or click-and-collect services. Numerous local courier companies offer such services, including Pargo and Bob Go.
Black Friday marks the beginning of several major shopping weeks:
These six weeks offer several opportunities to adapt and evolve sales strategies, attract new shoppers, reward loyal customers, and move old stock. SMEs that plan their sales campaigns and focus their energy rather than try to do everything see the best success. The most important trends are not what everyone else is doing but what makes sense for your business and customers.