November is one of the busiest times of the year for retailers – not only is Christmas shopping under way, but Black Friday sales provide a huge boost to both online and high street sales.
Last year, the value of total spending over Black Friday weekend in the UK reached £9.42 billion, accounting for over ten per cent of all Black Friday searches across the world.
Although the event originated in the US, it has been adopted by British retailers, seizing the opportunity to encourage shoppers to spend money.
It was initially a day of sales on the Friday after Thanksgiving Thursday. However, now Black Friday sales last the entire weekend, and many retailers launch their offers throughout the week before, if not even earlier than that.
This year’s Black Friday lands on November 25th, so retailers need to begin preparing for the biggest shopping event of the year.
Internet Retailing recommends ensuring inventory management software is updated, as this will help track stock in real time and ensure there is enough to meet the demand of Black Friday shoppers.
It is important to be aware of longer lead times, delivery delays and inventory shortages, so think ahead and start ordering as soon as possible.
The website also suggests using high-tech supply-chain and delivery technology, which will increase efficiencies, lower overhead costs, streamline quality control and optimise the shipping process.
Do not forget to market your sales appropriately too, both instore and online. Put lots of promotional material in the window advertising the sales, and remind customers on social media of the offers they can find.
Make sure your retail maintenance is up to scratch too, so no leaks, electrical problems or damage deters customers coming through the door.