The biggest shopping day of the year, Black Friday, is just a few weeks away. With such a monumental day ahead of retailers, it’s crucial to prepare for the challenges that come with the occasion. Retailers who don’t get ahead of the schedule will find themselves wondering why they didn’t think ahead when the surge of Black Friday shoppers come through the door and upend every expectation held for the big day. Find some easy, practical tips below you can start practicing now to ensure this Black Friday is as successful as it can be for your retail store.
Manage Inventory
It won’t help any of your shoppers if your inventory is running low, or worse, full of last year’s outdated items. Start managing your inventory today to get ready for Black Friday. Ensure your store is fully stocked up, run inventory counts for each item, and look at last year’s Black Friday sales data to see what best sellers looked like from the previous year. Looking into these metrics will ensure you have ample product for customers to purchase – obviously the most important part of Black Friday – while giving you insights into what you can expect to perform well.
Plan Your Merchandising Strategy
Visually promoting your products in appealing ways is an important factor in your sales for Black Friday. Think about it from the shoppers’ perspective. Would you be more likely to buy something if it was clear time and effort went into making it look more appealing, or if it was just simply left to sit on a shelf? Planning your merchandising strategy to most effectively promote your products can help strengthen your overall sales while enhancing your customers’ shopping experience. Some benchmarks to consider for your merchandising strategy include adding creative signage, appealing to the five senses, and incorporating design theory where applicable.
Train Staff Members
Your store can only run as efficiently as your team members. Train your staff for Black Friday today so they’ll know how to best handle the hectic shopping day coming later this month. Make sure your team knows how to up-sell and cross-sell items, so your shoppers can bundle their purchases for larger orders. Work with your team to build customer service scripts so everyone will be able to provide quick, consistent answers to common questions shoppers may have. Confirm with your staff to make sure everyone knows their roles and responsibilities, as well as what they should do in case a fellow staff member can’t make it to work that day.
Plan Out Returns
It’s inevitable that many products you sell on Black Friday will be returned to the store. Plan out and optimize your return policies ahead of time to ensure your team members and customers know what to expect if they should return an item to your store. Clear return policies minimize frustration with everyone involved. Furthermore, providing updates on a customer’s return through e-mails, calls, or SMS messages can build rapport and make them more likely to shop at your store again.
Final Thoughts
Black Friday is a crucial day for retailers, and with that importance comes many planning aspects you’ll need to consider to have a successful day. Some of the best ways you can plan for Black Friday include managing your inventory, planning your merchandising strategy, training staff members, and planning out your return policies and procedures. Use these tips to help your retail store have the best Black Friday possible!
Sources
https://connecteam.com/how-to-get-your-retail-team-ready-to-work-black-friday/
https://www.lightspeedhq.com/blog/black-friday-readiness/
https://www.boomgroup.com/post/holiday-retail-readiness-checklist-preparing-for-black-friday-beyond
https://joinrebelution.com/resources/handling-black-friday-returns
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