The drastic lifestyle changes, the upsetting recession, the rise of remote work, and so much more… The past few years have certainly taken a hefty toll on all of us. With the falling economy, businesses faced huge losses too. We never knew we were in such huge trouble when we were living our lives with utmost satiety before the pandemic hit. But it’s time to let bygones be bygones and stand again with a force so strong, so powerful, that every negative vibe stopping us gets wiped away along with this virus.

And what’s more exciting than an upcoming Black Friday 2024 sale? It’s not called the busiest shopping days of the year for no reason! Now is the time when businesses can flourish back again and get their ace game on like never before.

Remember, the challenges of the past few years frustrated not only business owners but also consumers. Now, everyone is eager to celebrate this Christmas to the fullest. This enthusiasm is setting the stage for a record-breaking e-commerce revenue opportunity this Black Friday, unlike anything we’ve seen before!

So it’s time to gear up and get started on the ride to the most effective strategies and tactics to master this sale.

This detailed guide with all the essential information is your one-way ticket to stand out amongst your competitors and get your share of benefits in this shopping spree like an ultimate pro. 

A Little Bit About Black Friday

First things first, let’s start by getting familiar with the history of Black Friday and how it emerged.

Black Friday, the day following Thanksgiving in the United States, has become synonymous with massive retail sales and the unofficial start of the holiday shopping season. The term “Black Friday” originated in the 1960s in Philadelphia, where it was used by police to describe the heavy and disruptive pedestrian and vehicle traffic that would occur the day after Thanksgiving. Retailers later adopted the term, recognizing it as the point when stores began to turn a profit for the year, moving from being “in the red” to “in the black.” Over the years, Black Friday has evolved into a major shopping event, characterized by significant discounts and early store openings, and has expanded beyond the U.S. to become a global phenomenon. 

This term was later recognized as the big shopping day in 2003, and since then, the trend of celebrating this day exponentially kept increasing. And now, what we have is the day everyone waits for. 

From kids to elders, everyone has their eyes on something or the other they want to buy, eagerly waiting for this day to get the best discounts and offer to get their hands on. 

Why is Black Friday So Important?

Let’s talk about figures…

It’s not all words for us; significant impacts must have big numbers.

• Black Friday Shoppers: In 2023, 93.2 million buyers shopped online on Black Friday, with the average adult spending around $400, resulting in $7.4 billion in sales. This trend is expected to continue growing in 2024.
  
• Sales Growth: Black Friday sales have shown a significant increase over the years. Adobe Analytics forecasts a 20% increase in revenue for Black Friday in 2024.
  
• Online Shopping Surge: The pandemic initially led to a dip in shopping, but consumers are more eager than ever to shop in 2024. Online shopping remains a key driver, with a substantial portion of sales happening via mobile devices. In 2022, 43% of Black Friday sales were through mobile phones, and this trend is expected to continue.
  
• Consumer Behavior: Electronics and apparel remain the most popular categories, with significant discounts attracting buyers. Consumers are increasingly comparing discounts before purchasing, with 88% of shoppers looking for the best deals online.

What Are Preparations Needed to Be Ahead of the Time?

Now that we all know the intensity this day holds, let’s cover this guide’s central aspect. The significantly effective strategies and tactics to consider the most to get started:

Start Early

 It’s always best to initiate the offers and discounts in phases, give the consumers something to come to you again and again. Preferably, please give them a pre-sale offer, throw in some teasers, and intrigue them in. So, they have you in mind when the big day comes.For example, Apple’s Black Friday 2023 campaign announced with emails announcing the teaser sale a few weeks before the big date. Later, as the date approached, they launched a second email marketing campaign putting forth Apple’s exact offering.  

Creative Black Friday Campaigns

For better traffic, it’s essential to reel the consumers first. For that, nothing works better than an attractive ad campaign. Be unique and straightforward. But most importantly, involve the consumers, by creativity, by playing a quiz perhaps or a hint game, potentially through some live online contest or giving them reward points on posting about their experience with the company. 

For example, Patagonia continues its tradition of supporting environmental causes through its Black Friday initiatives. In 2024, Patagonia announced it would donate 100% of its Black Friday sales to grassroots environmental organizations. This aligns with their ongoing commitment to sustainability and environmental activism, aiming to make a significant impact through their contributions during one of the busiest shopping days of the year​.

Make Your Website User-Friendly

 There is absolutely no point in spending time in advertisements and promotions if your website gives a bad user experience. It is of utmost priority that you fix these issues on your website, the first thing to start with

• Long loading time
• Issues in UI
• Website not mobile-friendly (Optimizing issues)
• Poor navigations
• Onsite search
• Scalability to handle

Your website is like a temple for your e-commerce business; treat it as one. Otherwise, as Tammy Evert (Shopify blog) says, a 2 seconds delay can cost you 66% of your sales. Do your calculations, be smart, and always alert.

Not Only Just Black Friday

Make sure to take into consideration that there’s so much more to it than just Black Friday. The whole season consists of long-awaited holidays and excitement to spend and celebrate. Make it count. Throw in exciting offers to lure consumers in not just on Black Friday but also ThanksGiving, Christmas, New Year, and every possible holiday during the season too.

Give them what they want, to get the most of what you want.

Simplify Checkouts

 According to the latest statistics from the Baymard Institute, cart abandonment rates remain high due to several factors. For instance, 24% of US online shoppers abandon their carts because they are required to create an account, and 17% abandon their carts due to a long or complicated checkout process. This emphasizes the importance of optimizing the checkout process to be as user-friendly as possible

However, even if the prospect has abandoned the cart for a long time, it’s best to lure them back through enticing email reminders of their cart items. Analyze when the customer left, send an email first with a gentle reminder. Then spice it up with a sense of urgency, offering a discount or mentioning its popularity.  You can also use the help of bulk SMS for the same, a useful tool for this can be retentionrocket.com.

Stock Up the Inventories

Before you decide what scale you market, make sure you would have that amount of inventories ready and piled. Disappointing consumers with stock out or delayed delivery updates is a big setback in a business. It will only lead the consumer to turn their back on you. So you must take a smart leap and manage your inventories in advance. One good way to manage it is through MultiVendorX, this can be the solution to all the needs and necessities your marketplace needs.

Utmost Transparency

Treat customers like your respected guests, and they’ll trust you for a long time. The policies of shipping and returns should be clear. The customers should know the regular status of delivery, till it arrives at their doorstep. They should know till how long they can return the product. The offers and discounts should be legit, and the information mentioned on the website should always be right. Following an ethical norm is still essential for an e-commerce website.

Prioritize Your Loyal Customers

There is no doubt that the customers who come to you repeatedly are the most important ones. They trust you and have a good liking towards what you offer. So irrefutably, keeping hold of these customers should always be prioritized. Klaviyo rightly says it, high segmented VIP emails, even if they consist of 3-5% of the list, spend three times more than the other customers.

Furthermore, giving some special advantages to these loyal customers, supposedly, giving them access to the sale a few hours before the actual time, providing membership discounts or extra offers; might make them feel more privileged.

However, skimming through the list and refining the loyal ones might involve some deep work. It’s worth every sweat, though, so hush and get on the business! 

To Sum It Up

Black Friday is an easy break for your business. And to top it up, it’s the talk of the town. With Black Friday just a few days in tow, it’s high time to gear up the best, right away. It’s not rocket science, preparing for the big day, and it’s not difficult to get the most out of this shopping spree when most consumers are already ready with their credit cards to spend their hearts out. Your only job, this Black Friday, is to give your best to show your presence on top of others in every way possible, and you’ll see that rest would be a cakewalk.