Lessons learned from Black Friday and Cyber Monday: Retailers must be open to change

Online shopping is booming forward with its controlled expansion. Talking about black Friday and cyber Monday, they are not limited to a single day deal now they both have turned into an event of shopping where retailers are announcing pre-sale offers and it is all becoming global day by day, all thanks to e-commerce.

When the tycoon of black Friday and cyber Monday comes to its end, online store holder need to look on how the whole shopping extravaganza went and how they cope up with different situations and explore some key lessons that would be great help during the rest of holiday season.

  1. More Shoppers Purchasing Online

First and foremost, more shoppers are making purchases online.  Black Friday and cyber Monday, being the biggest shopping days of the year, offers strong deals and promotional offers to buyers resulting in more and more shoppers to shop over the thanksgiving weekend. Number of people is directly influencing the number of sales as more people will spend more money with the increase of average order volume and sales revenue.

  1. Heavier Dependency On Discounts

Next is the heavier reliance of consumers on discounts, gifts and promotional offers. The main reason behind the fame of black Friday and cyber Saturday is actually the immense provision of coupons, gift cards and discounted offers to buyers. Therefore Retailers must keep an eye on their competitor’s promotional campaign and what they are offering to survive in the market by not losing their buyers attention.

  1. Extension Beyond The Weekend

Third, cyber Monday and black Friday has definitely drawn out beyond the holiday weekend. Big retailers also offers black Friday and cyber Monday special deal coupons that can be saved whole week long. Customers are more likely to receive emails from retailers prior and later these two days. Hence keeping up with the momentum of this weekend is really important.

  1. Rise in smartphones Use

Retailers need to realize new trend of smartphones, make themselves available via social channels to be a part of conversation and part of the credit card bills. Stores that show flexibility according to customer needs are stable in the market. Due to intense social media shopping happening nowadays, retailers need to manage certain things like forecasting demand, managing inventory and to optimize the costs of their products.

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