Many ecommerce brands offer time-limited coupons during Black Friday sales. These discounts are a great way to increase customer satisfaction and turn one-time buyers into loyal customers.
The sales are not just for electronics; you can also find deals on beauty products and homewares! Plan and stick to a budget so you don’t overspend.
Shop Early
In the last two years, Black Friday has increased in importance for shoppers. This year, it will be even more crucial for many people to make their plans early to avoid disappointment.
For small businesses, Black Friday offers a great opportunity to clean up their inventory and move slow-moving or seasonal items to point-of-sale displays. It can also provide first-time customers with a shopping experience that makes them want to become repeat customers. Using emotional triggers like free shipping, referral coupons, or gift cards on your website is a good way.
Another way to attract consumers is by offering discounts before Black Friday via social media or email. This can be as simple as lowering the minimum purchase amount on your website or sending a coupon or a Sams Club promo code to new customers who sign up for your newsletter. Differentiate your discounts for different articles based on their price elasticity to increase the likelihood of a conversion. Using a countdown timer is an effective tool for creating urgency and motivating your audience to take action.
Shop Alone
The frenzied crowds of shoppers that gather on Black Friday have led to many injuries and even some deaths, so be sure you can handle the pressure of a hectic day. If you can, avoid going out to shops and e-commerce sites during this time, as navigating will be difficult. Instead, shop alone or with a friend or family member so that you can focus on finding the best deals and avoid getting lost in the shuffle.
A common way that retailers entice shoppers on Black Friday is by offering doorbusters, which are steep discounts on the most popular items. However, the amount of stock is usually limited, and they may sell out quickly. Instead, look for various discounted products, or even better yet, shop online and save on shipping fees!
A common trick for eCommerce stores is to use time-limited coupons and promo codes during Black Friday. This marketing strategy leverages the concepts of scarcity and urgency to convert potential customers into paying clients. It’s also an easy way to improve your average order value, vital for a profitable eCommerce business.
Look for Coupons
The days leading up to Black Friday are when retailers roll out the best prices on their top-selling items, so it pays to research. For example, if you’re buying something big, like an outdoor TV or a new laptop, compare prices from several stores and note the lowest ones. This will help you know when a deal is great rather than just hype (think of it as a smarter version of comparing prices in a grocery store).
Another way to save is by using your credit card for big purchases. Many cards come with rewards and interest-free promotions, so you’ll pay less than using cash or a debit card. You can also shop for specific gifts and save by purchasing gift cards.
Compare Grocery Stores
If you only shop at one store, you may miss out on many savings. Many grocery stores, especially the larger ones, have their prices online, making it easy to compare and save money. Start by checking out your local grocery store’s website and entering the items you regularly buy into a spreadsheet. Write down the retail price and the unit price (how much the item costs per ounce or quart) for each item.
This will help you compare the cost of different brands and sizes. For example, a 10-ounce bag of frozen corn may be cheaper than the 6-ounce bag. It’s also important to consider if the store offers sales and other benefits like gas rewards, which can add up over time. For example, the prices might be slightly higher if you shop at a regional chain offering a wide selection of name brands and generics. But if you can use coupons and take advantage of sales, you could save significantly on your groceries!
Don’t Overspend
Black Friday is known for being one of the worst days for shopping, but if you plan and are prepared to stick to your budget, it doesn’t have to be. By following some simple tips, you can avoid the temptation to splurge, leading to buyer’s remorse and a huge credit card bill in the new year.
One of the biggest ways to save is to focus on buying quality over quantity, which means you should consider what items your loved ones need rather than merely want. It’s also important to remember that just because something is on sale doesn’t mean it’s a good deal. When a British consumer group looked at items sold during Black Friday sales, 85 percent were available for the same price or cheaper at other times of the year.
Another way to help you avoid overspending on Black Friday is by limiting how much you’re allowed to spend on each gift. You can create a spreadsheet or use an app to track your spending.
