With all forecasts on the rise we want to give you the best keys to have all the guarantees of success. Discover here how to not lose margins this Black Friday.
The best keys to avoid losing margins this Black Friday
Identify which products you want to include in the Black Friday category:
Here you have two strategies to do so:
The first is the most classic, select those products in which you have the most overstock and apply the biggest discount to them.
The second is more innovative: use this day to make new consumers aware of your brand by applying the discount to your Best-Sellers. The aim of this strategy is to position yourself with new consumers and convert them into loyal customers.
Prepare your points of sale:
Both the website and the physical shop must have the products marked with the special promotion, paying special attention to Visual Merchandising.
It is essential that both the website and the physical points of sale follow the same strategy and are consistent. In this way we guarantee the homogeneity of the brand.
Logistics and equipment:
It is essential to prepare the calendar of replenishments to points of sale in advance to see how many trucks you can move before Black Friday.
In addition, for the online channel, you should check that there are no bugs on the website and that the user experience is optimised. You should also consider the option of having a special support team to meet the demand.
What cannot be measured cannot be improved:
After Black Friday, which indicators can I use to ensure the efficiency of my strategy? Turnover, SellThrough, GMROII, Overstock, Average Basket and, in the case of choosing the best seller strategy, remember that the most important KPI to measure is customer loyalty.
If you are having problems with the supply chain crisis, you may be interested in these tips from our top consultants.