black Friday

Boost Your Sales on Black Friday

Black Friday is one of the highlights of the Brazilian Retail promotional calendar and a unique opportunity to increase sales. The date, originally from the United States, grows stronger year after year here.

Black Friday is one of the highlights of the Brazilian Retail promotional calendar and a unique opportunity to increase sales. The date, originally from the United States, grows stronger year after year here.

Selling more on Black Friday requires effort. After all, there are thousands of commercial establishments competing to win customers, and planning in advance is the key to not “sinking” into a sea of ​​offers and promotions.

That’s why we created a complete guide, full of information, tips, and suggestions on how to prepare for Black Friday.

Keep reading and find out how to increase your sales on Black Friday!

What is Black Friday and what is its origin?

Black Friday is the date that marks the day after Thanksgiving in the United States. Originally, fraternization was between English colonists and Native Americans.

Over time, Thanksgiving Day became a family celebration that generated a lot of business activity, boosting sales.

Thus, as balance sheets were made by hand and black ink was used to signal profits, the term “Black Friday” – which can be translated as “black Friday” – was adopted to indicate a day of good commercial results.

In the 1980s, discounts and promotions to attract customers carried out by large retailers reinforced Black Friday as a chance to buy products at prices well below normal.

Here in the country, Black Friday was held for the first time in 2010 and only involved e-commerce stores.

In a short time, this changed and physical stores joined this commemorative date, which is currently one of the most important in commerce in the country and attracts everyone from micro-entrepreneurs to the largest retailers in Brazil.

When is Black Friday 2023?

Black Friday is always celebrated on the last Friday of November – right after North American Thanksgiving, celebrated the day before.

Black Friday in 2023 will occur on November 24th.

The movement generated by Black Friday has such a huge impact on business that two other dates were created from it: Cyber ​​Monday (which is becoming increasingly known here in Brazil as well) and Small Business Saturday (which still doesn’t have a lot of strength in our country).

What is Cyber ​​Monday?

Cyber ​​Monday – or Cyber Monday, in free translation – is celebrated on the Monday following Black Friday.

It was created by online stores in the United States in 2005 with the aim of having a commercial date aimed solely at increasing e-commerce sales during this period. At that time, electronic commerce was taking its first steps there.

In 2023, Cyber ​​Monday will be held on November 27th.

What is Small Business Saturday?

The date, created by a large credit card operator, aims to promote a day of discounts and promotions carried out by smaller companies.

Although it has not yet fully taken off, Small Business Saturday is already being held in other places outside the United States – such as the United Kingdom, for example.

Celebrated the day after Black Friday, in 2023, Small Business Saturday falls on November 25th.

How important is Black Friday for business?

To show how important Black Friday is, we’ve listed great reasons that should be considered by people who have their own businesses.

Check out!

1. Black Friday goes beyond a single day

According to a 28% of people start monitoring the prices of products they want to buy up to three months before Black Friday. Around 25% of them started this research six months before the date.

In total, 85% of consumers monitor the prices of the products they intend to buy for at least two weeks before Black Friday.

Although the main motivation for this is to evaluate whether the products will actually be sold at a discount, this advanced research generates greater movement in your store – whether physical or virtual.

Therefore, this prior engagement represents a great opportunity to increase your sales.

From per-Black Friday promotions to Cyber ​​Monday, the date has a lot of potential to help you sell more for a good period of time.

2. Black Friday can boost holiday sales

Reinforcing what we said above Black Friday is not restricted to the last Friday in November.

And, with good sales planning, the date can help achieve good results for a longer period at the end of the year.

In this case, it is worth taking steps to avoid losing customers who purchased from your establishment during Black Friday, offering personalized promotions or special Discount coupon codes for Christmas and festive celebrations.

3. Black Friday helps move your inventory

Anyone who has their own business knows that idle inventory represents a loss. And this is a problem that Black Friday can help solve.

When choosing products that will be included in Black Friday promotions, offer more significant discounts for items that are “stranded” or have fewer sales.

You can also choose to offer these products as gifts or make combos with other merchandise in your store.

Whatever the strategy used, Black Friday is certainly a great ally to boost your inventory turnover.

Why include Black Friday in your sales strategies?

Some information helps show why you should include Black Friday in your business’s sales strategy :

  • Black Friday is one of the three busiest dates for commerce (along with Christmas and Mother’s Day) and this is the main reason for it to be part of your company’s sales strategies;
  • A survey shows that 50% of consumers intend to buy something on Black Friday;
  • Among people in class A, the percentage of those who intend to make purchases on that date rises to 65%.

For all these reasons, you should consider Black Friday as a key moment to increase your business’s revenue.

How was Black Friday 2022?

Sales on Black Friday 2022 grew 5.5% compared to the same period in 2021, according to the Cielo Extended Retail Index (ICVA).

The comparison considered the period from November 25th to 28th, 2022, and the period from November 26th to 29th, 2021.

With an increase of 16.3%, e-commerce was the main highlight of Black Friday 2022.

In physical stores, the increase in sales was 4.5%.

What to sell on Black Friday 2023?

One of the best ways to sell more on Black Friday is to know consumers’ purchasing intention trends.

A survey showed the most desired products for Black Friday 2023:

  • Smartphone: 24%;
  • Shoes: 22%;
  • Clothing and accessories: 21%;
  • Perfumes and cosmetics: 20%;
  • Electronics (TV, audio, and video): 19%;
  • Household appliances (fridge, stove, washing machine, etc.): 18%;
  • Furniture: 16%
  • Household appliances (blenders, mixers, etc.): 15%;
  • Computer (notebook, laptop, desktop): 14%;
  • Headphones: 11%;
  • Toys: 10%;
  • Market items (food, non-alcoholic drinks, cleaning products, etc.): 10%;
  • Decoration: 10%;
  • Books: 9%;
  • Beauty treatment: 9%;
  • Travel (tickets, hotels, etc.): 9%;
  • Construction material: 7%;
  • Smartwatch: 7%;
  • Sporting goods: 7%;
  • Smart products (virtual assistants, robot vacuum cleaners, etc.): 7%;
  • Games: 6%;
  • Alcoholic drinks: 5%;
  • Bicycle: 5%;
  • Property: 4%;
  • Car: 4%;
  • Motorcycle: 3%.

Even if your company does not deal directly with these products, these numbers show the power of Black Friday to drive sales.

It is an essential commercial date to increase your revenue, regardless of the size of your company or its segment of activity.

After all, there is always the possibility of boosting the sale of items indirectly related to the products most sought after by the public or simply “piggybacking” on the biggest movement of the period.

Want an example? Not all street stores offer spaces for customers to park their vehicles while shopping.

So, anyone who has a rotating parking lot can also benefit from Black Friday because of the greater demand for parking spaces close to shopping centers. How about even establishing partnerships with retailers to offer Black Friday Coupon Codes Discount to mutual customers?

With creativity and planning, every business can take advantage of Black Friday to attract customers and sell more at the end of the year.

How to prepare for Black Friday 2023?

Although the seasonal impact of a date varies from company to company depending on aspects such as industry, size, and investment capacity, there are several points that should be considered by anyone who wants to know how to sell more on Black Friday.

Planning, preparation, and advance are the most important words for those who want to be successful on one of the most awaited dates for commercial establishments,

Check out five essential points that you need to consider in your preparation for Black Friday:

Invest time in planning

Thousands of retailers compete for consumers ‘ attention during Black Friday.

For this reason, you need to carefully plan your strategy, defining:

  • What will be your investment for the date ( cash flow assessment, purchase of stock, advertising, store and/or website ambiance, etc.);
  • The calendar of promotional actions (before, during, and after Black Friday);
  • What will be your sales indicators (specific and measurable for the period);
  • Sales and revenue targets (including profit projection).

If possible, consult the period history in previous years to establish your goals more realistically.

If this is your first Black Friday, it’s worth doing market research on the date or using a tool that helps you evaluate your customers’ purchasing behavior and compare it with the average of businesses similar to yours.

Leave a Reply

Your email address will not be published. Required fields are marked *