If you have a business online, then it's no need to explain the difference between an offline Black Friday and the Amazon Black Friday. It is so, because Amazon has its own rules regarding this shoppers' holiday.
It is a unique event for the online world, and this day makes the largest revenue for the most sellers. Aggressive promotions and sales are worth your time, believe me! A huge upswing may be during Black Friday, so all the sellers have to be ready for boosting the sales.
As you probably have already heard, the record on the single-day sales was recorded during the Amazon Prime Day in July, and Black Friday 2017 is a perfect opportunity to beat it!
That's why I've decided to share these Black Friday tips & tricks with you! Be ready for the shopping frenzy and do your best to sell more and earn more!
Usually, large retailers and Best Buy, Walmart and Target begin advertising Black Friday discounts in a week before this day. It works with them, but things are different in the Amazon world. One week is not enough here. You should be ready to sell during the whole November, as amazon opens the Black Friday store on the 1st day of November.
It means that.... sales start extremely early on Amazon, and you should be ready for them even earlier! So, have your listings set and inventory stocked by this month. It will give you an opportunity to capitalize your Black Friday promos.
Scoring great deals is the main point of this day (at least, customers think so). That's why you may show them that you are ready to offer great discounts not only for products, but for shipping as well. This way, you will show that you are not against the humanity. :)
An additional shipping cost may disappoint your potential buyers and even trigger negative reactions, as people are driven by emotions at Black Friday. They make impulse purchases and react to everything very quickly and emotionally.
Someone who's seeking for some popular thing, will be motivated by fast shipping for a low price. Don't miss this point! By the way, large retailers such as Best Buy and Target offer free shipping during Black Friday as well.
Make the shipping free and earn money by increasing the amount of sales.
Having enough items in stock has the paramount importance for starting the Black Friday sales. The demand is huge, people buy everything, and you should be ready for that! Monitor your stock constantly to be sure that there are enough of products left. It's simple! If something is left, sell it for a higher price later!
Check that your inventory is reserved and protected before Black Friday, if you work as an Amazon FBA entrepreneur.
Don't forget to take into account the Black Friday reduced prices in your whole business plan, as overestimating or underestimating those figures may lead to losses.
Research what is popular on Amazon at the moment and follow the trends. You can also get this information from the TV advertisements, social media, and other sources. Pay attention to the demographics and age. This will help you in making smart decisions that will positively affect your sales during Black Friday. Moreover, lots of holidays will take place in Q4, so look for some gifts, toys, decor and appliances that may be useful and cute.
Some people even write predictions regarding what is going to be popular during Amazon Black Friday. You can find such materials in the Internet. Examine what experts say and follow their advice. Prepare for different scenarios.
You can also cut your costs by searching for cheaper manufacturing price, but be careful with this point, as some manufacturers cut their costs too, and offer people bad-quality items.
Anyway, if you make your expenses lower, you may reduce the final prices. It means that you can attract more customers to your products.
Strategic bundling can surely be a great helper in winning the Buy Box, earning more money and getting more thankful clients. Keep in mind that any new bundle needs an original UPC code, as Amazon treats it like a new product. So, if you create a unique product bundle, you will own the Buy Box until someone copies it from you.
Complementary things cost low usually, but they greatly increase the value of the bundle itself. For example, imagine that there are 2 option of buying a laptop: with a case and a laptop alone. The price would be the same. I bet you'd choose the first option with a case, wouldn't you?
This idea can be applied to some poorly performing items. Bundle them with the best-sellers and get rid of that stuff that would eat your budget with the storage fees.
Look at what items are there in your inventory for a rather long time and bundle them with something popular. You'll get the advantage in any case by selling items in bundles.
During this day (or maybe even a month) you can source items to sell later. Spot a great deal when you notice one. I am sure that if you see a 'can't miss' deal, you won't be able to stand. Remember them and grab those ideas for Christmas and other winter holidays.
You can even buy some items for the Black Friday low price to test them and maybe even customize for selling on Amazon.
So, as you see, Black Friday can be a very profitable event, if you get ready for it.
And what about you, dear friends? Have you already checked your stocks and prepared the best offers for Amazon users? ;)
I wish you the best profits during this November, and especially during Black Friday!