By: Muqadas Jabeen
As the holiday season proceeds, retailers and shoppers enthusiastically participate in the year’s two most awaited and biggest sale events. It is the greatest opportunity of the year to grab your favorite deal from electronics to fashion items, you can snag on anything. With the rise of online shopping trends, it has become more popular for shoppers and customers to make the most of it.
The term “Black Friday” refers to the time when financial records begin to appear in Black denoting “profitability”. It occurs after Thanksgiving Day each year. Whereas, Cyber Monday comes the weekend after Thanksgiving Day.
However, Cyber Monday has been losing its relevance and shine since 2019 as per the report of Bain and Company. It has not been in the top 10 since 2019. Whereas, Black Friday has maintained a pivotal position in most holiday spending. Adobe Analytics shows that $9.8 billion has been generated in online sales on Black Friday which is 7.5% more than the past sales. It is the time of the year when all the e-commerce brands offer exclusively huge discounts.
For this unparalleled holiday shopping season, you should have a proper plan of shopping otherwise you would have been through a giant tsunami by purchasing too many enticing items. First, make a list of all the items that you need and compare their prices with different retailers. This in-depth study and investigation will lead you to your best pick. Second, make yourself aware of all the special offers and early-bird deals. Shop early is a stress-free solution but don’t forget to have a refund policy. It is not as simple as it sounds. You have to spend hours to make a strategy for your shopping if you want to make the most out of this shopping season. Some people make sacrifices, cut off their spending, and therefore have money set aside just to take advantage of this grand sale opportunity. Third, try to buy in bulk if you have a large list of items. Retailers offer discounts to shoppers who buy in bulk. Fourth, utilizing reward-based credit cards in Black Friday and Cyber Monday sales would be the best decision ever as it will give you rewards in terms of cashback or other rewards. Fifth, profitable things always bring some cons with them. During this holiday season, scammers become active and you have to be aware and alert of these scammers. Always, shop from the authentic and original websites of brands. Don’t go for suspicious emails. Sixth, give equal time to both in-store shopping and online shopping and keep an eye over promo codes and special discount bundles. Lastly, don’t fall into the bait or trap of enticing products, focus on your core objective of purchasing.
If you are a business owner then you must have to plan your personalized marketing strategies. The countdown is on now. Create a checklist for yourself to not miss any chance of standing out from the competition. Start your campaign three or four weeks before this holiday sale season. Offer anticipated bundles and limited offer options to increase your sales. After sometime you can restock your merchandise and again offer limited-time bundles. You can offer customized products to attract more customers and gain an edge over competitors. Follow the prevailing trends. Create attractive visuals to engage with a broader audience. If the presentation is not good, you may lose those potential customers. Check your website to make sure it is mobile friendly as a large number of users are shopping online using their phones.
Black Friday and Cyber Monday are around the corner. To extract the greatest value out of it, start spending wisely and optimize your budget. Remember, saving is never too late. Frenzy shoppers often get frustrated after spending all of their money on these sales. Start keeping track of your spending and save yourself from drowning in the ocean of debt. Create a shopping plan and cut down on your lured spending. Happy shopping!