Black Friday is right around the corner and retailers are pulling out all the stops to maximize sales. While retailers would rather have in-store shoppers who boost sales with impulse buys, many expect an avalanche of online sales from holiday weary shoppers eager to avoid the midnight and predawn mobs looking for “bargains.” News reports and YouTube videos of people being trampled to death and seriously injured turned off many Black Friday shoppers who once waited in long lines outdoors. Besides, an online shopping cart is a lot easier to fill and deal with than an in-store one.
These days, online shoppers can’t be ignored. According to the National Retail Federation, online sales amounted to almost 40 percent of the $52.4 billion spent during last year’s Black Friday weekend. Compared to 23 percent of Black Friday spending in 2006, it's enough to get the attention of any retailer. Small wonder that Wal-Mart, Target and Brookstone plan to offer many of their in-store Black Friday promotions online.
Wal-Mart will lure online customers with many of its in-store deeply discounted items. The catch: customers need to first download a mobile app, sign up for special emails, or “like” the company on its Facebook page.
"If you've taken the time to invest in building a relationship with Wal-Mart, we want to make sure we take care of you, especially on a really busy day for our customers," said Gibu Thomas, Wal-Mart’s senior vice president of mobile and digital.
Best Buy will also offer its online customers in-store discounts, including early-bird specials to its big spenders. The goal is to keep online customers loyal to Best Buy and to keep customers from buying from its competitor’s websites.
Not to be outdone, Sears will be enticing its online “loyalty program” shoppers with such door busters as a $97 HD television and a $39.99 Nook e-reader online on Sunday for subsequent in-store pick up.
Home-shopping giant, QVC noted its Thanksgiving sales rose 60 percent over the last four years. A few years ago, Thanksgiving Day sales averaged about 25 percent lower than your usual holiday Thursday. Since then, QVC has ramped up its programming and customer outreach, offering Black Friday deals on midnight Wednesday. "It is just the evolution," said QVC's CEO Mike George.
To fully leverage Black Friday online, retailers need to keep their ears to the “social media ground” and tune in to the buzz about what customers will be shopping for. This will ensure they’re promoting the right products and that they have enough stock on hand to fill the rush of orders.
Customers will be scouring social networks for bargains, something web-savvy retailers should be poised to exploit. According to the National Retail Federation, more than 17 percent of consumers will be monitoring retailer Facebook pages this Black Friday to keep track of deals. Add in shoppers who own computer tablets and you’re looking at a 31 percent jump. Some retailers are going interactive, crowdsourcing their fans to determine what deals they will offer on the big day.
Finally, retailers should show their appreciation for loyal customers by providing added values and incentives;things like giving their online fans an early peak at their Black Friday deals, hosting contests and giveaways, and offering exclusive deals for their Facebook fans.
Black Friday is almost here. Are you ready for the mob of online shoppers?
Photo courtesy of MorgueFile.com
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