Black Friday is the biggest shopping day of the year. Millions of shoppers pound the pavement in search of deep discounts. In 2016, Black Friday sales amounted to $1.6 billion.
If you own a retail store and want to get your fair share of Black Friday revenue, it’s important to think ahead. The following steps will help ensure that your store is ready for the big day:
- Prepare early – It’s never too early to prepare for Black Friday. Most stores start gearing up for the sales months earlier; some start even before back-to-school season is over. You can start calculating your sale prices, printing store signs, updating your business website, and training your employees to accommodate the onslaught of shoppers.
- Take inventory – Make an inventory of merchandise you have in stock at least two weeks before Black Friday. You should also consider supplies such as shopping bags, display equipment, and more. Heaven forbid your Black Friday takes a turn for the worse because of something simple like running out of receipt tape for cash registers.
- Spread the word – Once you have completed your Black Friday business plans, start letting your customers know about your sale offerings through social media posts, blast emails, fliers, and other forms of advertisements.
- Update your website – Give your customers a clear picture of what your store will offer on Black Friday and Cyber Monday by tweaking your website. Rather than posting discounts for individual items, consider posting clean, simple statements like “40% off all regular priced items” or “take an additional 25% off all sale items.”
- Train staff – The key to a smooth Black Friday sale is a thoroughly-trained staff. Make sure employees are well-informed about sales items so they can field questions from customers. Teach them how to handle long lines and troubleshoot potential problems.
Black Friday is a great opportunity to drive up profits, but it can also be stressful. Preparing well in advance can help alleviate the pressures and challenges of the day.