Retailer's Survival Guide to Black Friday
You don't have to work in retail to understand the madness that is Black Friday. Retailers and consumers alike obsess over the holiday because of the incredible sales that take place. Because of this, retailers must plan accordingly. An increase in sales and foot traffic while offering overnight hours is very beneficial, which is why Black Friday should be taken advantage of and executed properly. Whether this is your first time as a retailer or you have experienced the holiday before, these tips will help you survive the madness that is Black Friday:
1. Hire More Staff
Your store is bound to be insanely busy on Black Friday. It is possible that you will need your full staff, but likely you don't want them to work for over 24 hours. To avoid burning out your team, consider some outside help. Hiring specifically for Black Friday is very common, and people will work! Who doesn't want some extra cash during the holidays? One great (and free) way to do this is to draw referrals from your current staff members.
2. Do Something Creative
Although creating an experience for your customers is important year-round, Black Friday presents an excellent opportunity. In order to draw more people into your store- and to keep them there- try creating an immersive experience. This can range from hiring a live DJ, getting customers hyped with a fun playlist, offering interactive displays, providing refreshments, creative decoration and more. Get creative!
3. Optimize Security
With an increase of foot traffic comes the inevitable- shoplifters. It will benefit you to increase your security cameras and other security hardware, hire a security guard and to give employees a pre-shift briefing on shoplifting. When handling security incidents, be sure to follow all company guidelines and to put safety first. Review our quick guide to crucial security and loss prevention tips.
4. Promotions, Promotions, Promotions!
Black Friday is a day of sales, which is the main reason for its popularity. Promote these sales through effective visual merchandising and signage. Although your promotions will surely increase sales, take it a step further by offering something unique. Offering a free gift with purchase is one great way to do this, while free gift cards and contests such as raffle tickets and games are other fun ideas. It is also important to offer easily understandable promotions, since consumers are overloaded with information from different stores. Door buster sales will drive foot traffic through interest and demand.
5. Organize Products in Effective Way
Foot traffic is a double-edge sword- you want more customers in your store, but you don't want a chaotic shopping experience. Control the surroundings and the customer journey by placing items in a strategic way. Point of Purchase displays are perfect for showcasing advertised items that customers are looking for. Additionally, placing "like" items together will not only ease customers' shopping, while increasing your items per transaction with add-on items. The use of color coordination can be useful when creating the flow of your store, and obvious signage will improve the flow as well.
6. Offer Stocking Stuffers
Many Black Friday shoppers are shopping for Christmas/holiday presents, and a huge tradition is the gift of stocking stuffers. Stocking stuffers are small, usually less expensive items and do not necessarily have to be relevant to your brand. Offering a variety of these gifts will increase your sales while creating a "one stop shop". The most popular way to display these items during the holidays is through the use of dump bins. Other displays for add-on items include display tables or nesting tables. Creating an "action-alley" of impulse purchases will increase sales and IPT.
While Black Friday is bound to be very busy, retailers will have a fun and successful holiday if these tips are implemented properly. But don't worry- we won't leave you hanging. Since Black Friday is just the start of the busy holiday season, there are many additional holiday tips and trends to be inspired by! Our visual merchandisers also offer an extensive catalog of retail supplies, including all of your holiday essentials.
Please visit www.retailresource.com or call one of our visual merchandisers today at
1-800-762-8186. Be sure to stay updated on all retail tips and trends!