Black Friday: An Unofficial Start of a Holiday with Deals
The importance of Black Friday deals is for both the shopper and the retailer. Black Friday for shoppers means great deals and discounts to purchase in huge amounts to gift them close ones for Christmas or New Year’s Eve. Also, Black Friday with its exclusive deals makes shoppers eagerly wait for the whole year to purchase for themselves too.
The most purchased items with great deals on Black Friday have been recorded on electronics, clothing, and accessories. You could say Black Friday is a big shopping event, just like Diwali shopping in India. For the whole year, Indians wait for exclusive Diwali deals. This is an excellent opportunity not only for shoppers but also for retailers. It’s a win-win situation.
It is estimated that almost 90 million shoppers did shopping on Black Friday in 2023 in the United States. Of course, the most favorable device for them was the smartphone, and therefore, it is always recommended to make your online store mobile-friendly.
The significance of Black Friday is rapidly growing every year, which cannot be denied. The irresistible Black Friday deals help improve brand visibility, conversions, and long-term customers, drive sales, and generate revenue. It helps in shaping the future of e-commerce. Ultimately, the main question before knowing the advantages of Black Friday deals starts with why these deals are important.
The Importance of Black Friday Deals
Here are the mentioned reasons why Black Friday deals are important.
Get new customers
This is the only time of the year when the shoppers are hunting for exclusive deals at every site. Offering them the best deals as compared to other stores is a possibility to convert them into loyal customers.
Boost sales
Black Friday being the most profitable day of the year helps in boosting your sales. How? By offering coupons and discounts, strategically fixing the price of the product, bundling deals, clearing old inventory to make space for the new products in the store, and selling large quantities of stock to generate revenue and conversions.
Urgency
Limited-time period sales lead to quick decision-making by the shoppers, which leads to urgency. The reason for this is that usually, these time-limited deals are on expensive products, which are for a shorter time. Therefore, shoppers never miss the opportunity to enjoy flash sales, countdown timers, exclusive discounts FOMO, and so on.
Brand Loyalty
Black Friday is the only time when e-commerce stores come with exclusive deals to make their bonding strong with the customers along with personalization. Customers are the bread and butter for every online store, and they offer them a great user experience that can enhance customer retention and long-term loyalty.
Standing Out
Black Friday is an extremely competitive event for every online store, and to struggle to stand out takes a lot of effort. With the help of unbeatable deals, free shipping, percentage discounts, buy one, get one free, etc., they want to appear unique and stand out from their competitors.
Bulk Purchase
Shoppers are likely to make bulk purchases during Black Friday because it is a concept that you shop more and save more, which leads to higher cart values. For example, Buy 2, Get 1 Free encourages the customers to purchase the product, increasing the average order value.
Customer Lifetime Value (CLTV)
Black Friday offers exclusive deals along with budget-friendly shopping which improves the chances of customer lifetime value. Along with a great shopping experience, fast shipping helps in nurturing a new relationship with the customer for a lifetime.
Brand Awareness
Black Friday improves brand awareness when they start promoting their exclusive deals beforehand. You can highlight your discounts and coupons on various social media platforms like Instagram, Facebook, and TikTok, collaborate with influencers, and take advantage of Google Ads campaigns.
Mobile Shopping
The golden rule to enhance and boost your sales and revenue is to make your online store mobile-friendly. Check all the points that can be a hassle for your shoppers to do shopping on your site through mobile. Make it an SEO-friendly and seamless shopping experience even when there is heavy traffic on your site. Why? Because 30% of global internet users do online shopping with the help of a smartphone every week, and therefore the percentage will be higher when it is Black Friday. The real focus is on mobile commerce.
Conclusion
Shoppers talk about Black Friday the whole year, what they have to purchase, and make their whole list. This isn’t any normal event. It’s a big shopping event with exclusive deals that you cannot afford to ignore. Therefore, the importance of deals holds utmost value for shoppers as well as for online stores, which shapes the future of e-commerce
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