The biggest shopping day of the year is coming up, and retailers are already preparing their shelves and prepping their advertising campaigns.
This year, the sales are expected to begin before Black Friday. According to the Wall Street Journal, 53 percent of retailers started their sales and marketing strategies as early as September. This is because Black Friday is no longer just a one-day event. It’s now a months-long part of the holiday shopping season.
Stores will also be opening longer for Black Friday, with many retailers opting to stay open for 24 hours at a time with several of those hours eating into Thanksgiving Day itself. Consumers are expected to then shop throughout the weekend in preparation for Christmas.
Another factor to consider this year is Cyber Monday, which takes place following Black Friday weekend and involves sales and promotions for e-commerce retailers. This latest shopping day has occurred over the last couple of holiday seasons, but this year it’s poised to become a sales day on par with Black Friday itself. Digital advertising and social media word-of-mouth should also have a big effect on sales, and businesses are spending a great deal on electronic campaigns this season.
Experts are also forecasting a jump in experiential, rather than material, buying. This season, shoppers are expected to spend an increased amount of money on services and experiences, like massages and art classes. There’s also a trend among retailers of having in-store electronic kiosks, so that customers can see a product in-person but order it online.
As Black Friday approaches, ensure that your business is operating on only the most efficient point of sales systems currently available. It’s important to make transactions quick and easy for both your customers and employees, and having inventory tracking capabilities will help you record everything that’s sold during this busy season.