These two days are the most profitable ones, with some 188 billion euros having been spent in the past on Black Friday alone. Now imagine adding, in order to get the total value, the consumer spending on Cyber Monday to the revenue mentioned above. Yes, it is an extremely huge revenue!
A study carried out by Adsmovil reveals that 63% of consumers in Portugal intend to adhere to Black Friday (25 November) and almost 50% to Cyber Monday (28 November). In order to better understand this phenomenon, Black Friday is the last Friday of the month of November and Cyber Monday is an addition to the Black Friday weekend.
In Portugal, studies reveal that these days represent 18% of national sales. In addition, 45% of consumers buy after seeing an advertisement for the product and 34% say that digital advertising was the medium where they saw discounts and promotions.
It is a great opportunity, but it has to be prepared with time! By organizing the products and services your company can offer, through special offers, coupons and discounts, you will be able to attract new customers and increase sales.
Mobile devices take the leading role as a method of purchase. Therefore, make sure your digital channels are optimized:
There will be an additional flow of visitors, consequently, you need a website that is prepared and able to accommodate users and transactions.
One of the most frequent causes that prevent consumers from finishing the purchase is the lack of the payment method that suits them best. So that the items in the cart are not abandoned, it is of utmost importance to accept several payment methods.
In addition to this, postage is also a factor in giving up the purchase. However, don't tire yourself out thinking of a way to overcome this constraint, just include the shipping costs in the final price. An organized and intuitive checkout page will make the whole process easier.
Don't forget to review and make sure there is stock to meet demand. One way to measure the supply you should have is to base it on sales achieved in previous years.
However, none of this is relevant if you do not understand your positioning. Without a competitive offer, these promising dates are just failed sales attempts. You will have to analyze the competition, but do your best to stand out. For example, flash promotions (available for a short period).
We wish you good sales at this busy time of year!