With the Black Friday season just around the corner, UK retailers are gearing up for what’s set to be one of their most challenging and competitive Black Friday campaigns yet, thanks to the cost-of-living crisis.
Black Friday 2022 sales in the UK equated to £8.71bn; £4.81bn of which was spent online and was £190m more than 2021’s online sales. So, what can you do to optimise your strategy this year, under more difficult circumstances?
While you’re likely to already have your marketplace strategy fixed, there’s still time to optimise it further with some quick, easy-to-implement tips to boost your sales. Or bookmark this page and keep it in your back pocket for future campaigns and dare we say it, Black Friday 2024…
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Upsell with product recommendations:
Seize every opportunity to upsell. 51% of Black Friday customers made impulse purchases during the 2022 Black Friday promotions. By spending a little time adding products that complement what customers are considering purchasing to the listings, you can enhance their shopping experience and potentially increase their overall spend.
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Pin products:
Draw attention to your top-tier deals, best-selling items or products in ample supply by pinning them to the forefront of your marketplace listings. This quick to execute yet strategic move ensures that customers’ focus is directed toward the products with the highest sales potential.
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Decrease abandoned carts:
With an average cart abandonment rate of 73% during Black Friday 2022, it’s important to proactively address this issue to safeguard your sales. Take a few minutes to set-up an extra discount as an incentive, motivating hesitant shoppers to take that final step and click the ‘checkout’ button.
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Engage with customers post-purchase:
Building meaningful customer relationships is fundamental to fostering loyalty and securing repeat business. 84% agree that building a more positive experience around Black Friday shopping would encourage them to shop with a retailer again. Quick wins post-Black Friday like expressing gratitude for their purchases, extending discounts on complementary products aligned with their preferences, and maintaining prompt responsiveness to their inquiries, can help boost your sales now and into the future.
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Collect feedback post-Black Friday:
One of the pivotal aspects of post-purchase customer engagement is soliciting feedback. Positive reviews can serve as powerful endorsements, influencing others to make purchases. Simply encouraging your customers to share their reviews not only helps build a bank of evidence, affirming the quality and value of your products, but also underscores your commitment to exceptional customer service.
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Don’t wait! Now is the perfect time to elevate your Black Friday game and build upon your baseline strategy to transform your sales and revenue performance.
Looking to fine-tune your plans and sense check your offering? Download “The Little Black Book of Black Friday Marketplace Tips” from TymeOnline.
It’s packed full of valuable tips, insights and actionable takeaways to help you make this Black Friday the best year yet (even if you do have a strategy finalised) and get ahead of the game for next year. The advice provided in the guide can also be transferred and used to optimise other campaigns outside of Black Friday!
TymeOnline has helped industry leaders like HMV, Homebase, and The Entertainer, generate tens of millions (£) in additional revenue. Their cost-effective outsourced marketplace solutions can achieve the same success for you.
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