Black Friday, the “official” strat of the Chritmas shopping season, is one of the biggest shopping days on the global calendar. Add to that the Cyber Monday frenzy, online retail’s Black Friday equivalent, and it is all systems go. And for Australians, there is no need to miss out on the action.
In our digital world, the accessibility to these deals are literally at our fingertips. Who doesn’t love a good opportunity to snap up a few bargains in the comfort of your own home? At Prezzee, for example, we regularly offer consumers eGift Card promotions delivered straight to their mobile phones. The purchase process is simple, convenient and offers a promotional reward for making the purchase. The eGift Cards can be redeemed any time, making the most of further sales directly from retailers, which is a double benefit for consumers.
Given our hungry appetite for bargains, retailers should be gearing themselves with even bigger promotions to tempt customers this year. There are a number of various tactics to encourage consumers to take up the deals. And why wouldn’t they? All eyes are open for the best and biggest bargain. The battle is on.
Why should Australian retailers care about Black Friday?
As with any marketing strategy, the best strategy is to be proactive and anticipate what your existing and new customers could possibly be looking for. It’s definitely worthwhile having a few extra incentives to keep the dollars close to home – if it’s a “Black Friday Bargain” they’re after.
If you’re an Australian business owner operating and selling to consumers globally, you would be crazy not to consider ramping up your marketing activities to promote Black Friday and Cyber Monday deals. However, it might be wise to chat with your IT team about ensuring your website and e-commerce platform can handle the uptake.
On top of the huge sales they can make on Black Friday, retailers can use the event to liquidate any assets into cash and make room for new stock. To be real though, this retail strategy has some level of risk, as retailers choosing to partake in Black Friday may experience a sales slump at other times in the year. Why? Some customers choose to put off any purchases in exchange for the possible rewards of waiting for Black Friday or in Australia – the Boxing Day sales. It’s really a “no risk, no reward” situation. Retailers need to capture their customers at every touch point and piggyback off any opportunity available.
Essentially, this is must do for all retailers who choose to be involved as much as it is for shoppers who want to snap up the best deal.
Christmas is just around the corner too, so any opportunity to acquire new customers is a good one! Will you be joining in this year?
Matt Hoggett, Co-founder, Prezzee