Black Friday, Cyber Monday (BFCM) shopping season is falling on 25-28 November this year. While physical stores have started decking themselves up to attract a heavy footfall, online stores should also buckle up to be on the top of all competitors.
The COVID-hit 2020 saw an exponential rise in e-commerce sales. The BFCM season also allowed merchants to make the best of sales using online sales channels. In 2021, Shopify merchants made a collective sales of $6.3 billion USD during the Christmas holiday shopping season.
Even though consumer spending has declined over the past two years and inflation is rising, merchants should remain hopeful for the BFCM 2022 to turn around their fortune. If you are new to the online business and run a small online store, we’ll help you plan a promising strategy for the upcoming BFCM 2022.
What is BFCM?
BFCM is the set of four days that fall between the fourth Friday of November and Monday. The first day is called Black Friday. It falls next to Thanksgiving Day in the United States. According to the International Council of Shopping Centers, Black Friday has been the country’s busiest shopping day since 2005. The concluding Monday is called Cyber Monday.
Stores, both physical and online, start discounts and appealing sales from either early morning of Black Friday or evening of Thanksgiving. Some of the stores run sales for a week, which makes the season “Cyber Week” and some start the shopping season from the weekend before Thanksgiving, calling these 10 days of shopping spree “Cyber Ten”.
BFCM is an informal event, which started in the 1960s in the US. Now, it is celebrated as an annual shopping spree in countries like the United Kingdom and Australia as well. The dates change when November 1 falls on a Friday.
Retailers, both online and offline, offer discounts upto 60 percent to boost their sales this shopping season. In the past, these heavy discounts have also instigated violence among shoppers in stores.
Plan Your BFCM Sale
Even though there are also e-commerce giants participating in the BFCM 2022, small owners can also get the advantage if they follow the three crucial steps described below.
Decide Discount
While all your competitors will be offering heavy discounts, make sure you don’t slash prices so much that you face financial trouble. It is an old trick to entice customers with discounts upto 60 percent. However, even if you offer a quality product with a reasonable discount of upto 20 percent, customers will buy your product. You just need to convince them to pay the right price of your product.
Early Promotion
Advertising costs are rising as we approach the BFCM 2022. Once you have decided the discount amounts on your products, start promoting them using various channels. Early promotions will allow customers to retain your brand and once the season starts, you can generate the best of business using the paid adverts.
Customer Support
Don’t just focus on selling products but also on providing a memorable shopping experience to your customers. Maximize the conversations with your target group using strong customer support. Our guide on email marketing for the BFCM 2022 will also be helpful for you to establish friendly relations with your customers.
There is also a guide on how to prepare your online store for BFCM 2022 and what to expect from the inflation-hit 2022 for your reference.
