Black Friday -- Friday, November 28 -- officially kicks off the holiday shopping season. Black Friday is the day when every retailer pulls out the stops, hoping to attract shoppers to their stores. It’s when the chains entice normally sane people out of their beds at 2:00 AM to stand on line in the cold until 6:00 AM when the store opens, hoping they will be one of five lucky people to score a $299.99 laptop. Lately, it’s become more about the hunt than the actual prize because most of those intrepid folks never score the big draw items.
Black Friday websites give shoppers the inside scoop on what the big stores will be selling on Black Friday and at what price. These websites post actual store ads, much to the chagrin of the retailers and their attorneys. See for yourself at http://bfads.net/ and http://www.blackfriday.info/ or Google "Black Friday" for hundreds more. The buzz is so big shoppers all over the U.S. look forward to Black Friday like it’s a national holiday.
Why is Black Friday so important? Because it’s the day when many retailers begin the move from being unprofitable – “in the red" – to being profitable – "in the black". This single day will give you an important look into the Holiday 2008 because it sets the tone for what’s likely to happen in your store, so whatever you plan to do for Black Friday, you’d better make it big.
Keep in mind that the day after Thanksgiving isn’t the only important holiday shopping day you need to worry about. If you sell on-line then Cyber Monday will be important to you as well. Cyber Monday is the Monday after Thanksgiving; it marks the beginning of the on-line holiday shopping season. And if the trend continues, the last Saturday before Christmas will continue to be the highest sales day of the year, so you need to make a big splash on that day as well. We hope that your promotional calendar is already full, but just in case it isn’t, getting started is a easy as 1 – 2- 3!
1. SCHEDULE A STORE MEETING. This is where the magic happens! Brainstorm ideas with your incredibly smart store associates. Set up a flip chart and write down every single idea that comes out of their mouths. You know how brainstorming works, right? There are absolutely no bad ideas. No one gets to say anything snotty or snarky about an idea. That stupid comment just might unleash the greatest idea ever when another associate mulls it over. You will want to leave this meeting with a promotional plan of action for Black Friday and beyond.
2. CHOOSE THE RIGHT EVENT. Do you know why the big box stores run their Black Friday deals at 6:00 AM? Because they know it’s critical to capture “first business”; they want shoppers to visit their stores BEFORE they hit the competition. That’s why we recommend you do an “early bird special” – you want your customers to plan a visit to your store before they head of and get lost at the mall. A 50% Off of Any One Item Coupon is the perfect way to get customers to come to you first. Don’t be scared by the 50% off part – you can limit the dollar amount should you so desire. Drop us an e-mail and we’ll e-mail back complete instructions on how to run this event, plus a customizable 50% off coupon template.
How about our Bounce Back Bag Sale, where shoppers are given a 20% discount on everything they can fit in the bag? Our recommended bag has three money-saving coupons to bounce shoppers back to the store three more times. And if you’re really intent on growing sales, you will to include a $500 shopping spree. Depending on your mark-up, that $500 shopping spree will cost you $250 or less. Think of the buzz you’ll build about town!
Beyond Black Friday, consider the “Let it Snow” Promotion that guarantees shoppers a cool deal if your city gets six inches of snow from midnight on New Year’s Eve until six in the morning the next day. If that happens then all purchases made in your store from the day after Thanksgiving to Christmas Day will be absolutely free. And all it will cost you is the price of an insurance policy. Find out more from the National Hole in Once Association: http://www.hio.com
An Illinois furniture store did a similar promotion a few years ago: if the Chicago Bears held the Green Bay Packers scoreless, then all furniture purchased in his store for a certain period of time would be free. Well, the Bears did it and the retailer’s lucky customers got $300,000 worth of free furniture! The retailer enjoyed priceless nationwide press for days all for the cost of an insurance policy. Visit Odds On Promotions for more information: http://oddsonpromotions.com
Given this opportunity why would customers want to shop anywhere else?
Sell gift certificates at a discount. The studies show that 80 percent of all gift certificates are redeemed for more than face value, and 40 percent of all gift certificates are redeemed for twice the face value. So what’s to lose? Offer yours at 20% off during the month of December, but here’s the catch: Gift certificates sold at the discounted price cannot be redeemed until after the holiday. This ensures that customers can’t use them to receive a discount on their own holiday shopping.
And here’s another idea! When a customer purchases a $50 gift certificate, throw in a $5 gift card for her own use. Shoppers who were originally planning to spend $40 will likely add an extra $10 if they know there’s something in it for them.
3. HANDLE THE DETAILS. This will determine how successful your event will be.
* How will you tell your customers about your event? Bag Stuffers, window and in-store signing, plus e-mail blasts are a must. Newspaper, radio or television advertising may also be an option for you.
* How many people can your store comfortably hold at one time? If you run a fabulous offer that attracts hundreds of people, and your store is small, you will irritate more customers than you thrill.
* How many associates will need to be on hand to properly serve customers? How many cash registers will you need to keep the lines moving? Be prepared with temporary registers and seasonal staff. You can even opt to invite customers to help out for a few hours. Reward them with a store gift certificate.
* Will you have one big draw item or many in-store specials? Are you in a good in-stock position, or do you need to re-order fast?
* Which easy refreshments will you serve? You know our motto: “Food is Good!” Customers who nosh while they shop tend to stay longer and buy more.
* Will you have entertainment? Perhaps not at all events, and certainly not on the busy, busy days, but entertainment is always a good idea at your holiday open house.
* Will you have makit & takits and demos? Again, these are a good idea at open house type events, but they will clog the aisles on busy shopping days. Hold them only on days and hours that make sense.
* Will you have giveaways and drawings for door prizes? If you do, where will these items come from? Plan ahead with entry forms and displays of what shoppers can win.
* Draw a schematic of your sales floor, noting where everything will go. You don’t want any surprises on event day!
* On event day, schedule a breakfast meeting with your staff one hour prior to opening. Review in detail everything that will take place during your event. Sometimes people are inadvertently left out of the loop – make sure that everyone knows what is happening, when it’s happening, and what is required of them.
* Make a list of all that will happen that day. Include in-store specials, drawings, coupons, etc. Make sure every single associate has their own copy to carry with them.
* After each event, schedule a staff meeting to review what happened, noting what went well, what didn’t, and what you will want to incorporate next time. Give each associate an evaluation to fill out – you want to see the event from their perspective.
Please do not let this sales-building opportunity pass you by! Yes, you have 12 months of opportunities to host in-store events and promotions, but the holidays only come once a year. Begin by planning a Black Friday blast and keep the events and promotions coming all year long. Make shopping at your store an anticipated experience, not just a place to buy “stuff”. And remember, if you need help getting started, we’re just a telephone call away!
Black Friday websites give shoppers the inside scoop on what the big stores will be selling on Black Friday and at what price. These websites post actual store ads, much to the chagrin of the retailers and their attorneys. See for yourself at http://bfads.net/ and http://www.blackfriday.info/ or Google "Black Friday" for hundreds more. The buzz is so big shoppers all over the U.S. look forward to Black Friday like it’s a national holiday.
Why is Black Friday so important? Because it’s the day when many retailers begin the move from being unprofitable – “in the red" – to being profitable – "in the black". This single day will give you an important look into the Holiday 2008 because it sets the tone for what’s likely to happen in your store, so whatever you plan to do for Black Friday, you’d better make it big.
Keep in mind that the day after Thanksgiving isn’t the only important holiday shopping day you need to worry about. If you sell on-line then Cyber Monday will be important to you as well. Cyber Monday is the Monday after Thanksgiving; it marks the beginning of the on-line holiday shopping season. And if the trend continues, the last Saturday before Christmas will continue to be the highest sales day of the year, so you need to make a big splash on that day as well. We hope that your promotional calendar is already full, but just in case it isn’t, getting started is a easy as 1 – 2- 3!
1. SCHEDULE A STORE MEETING. This is where the magic happens! Brainstorm ideas with your incredibly smart store associates. Set up a flip chart and write down every single idea that comes out of their mouths. You know how brainstorming works, right? There are absolutely no bad ideas. No one gets to say anything snotty or snarky about an idea. That stupid comment just might unleash the greatest idea ever when another associate mulls it over. You will want to leave this meeting with a promotional plan of action for Black Friday and beyond.
2. CHOOSE THE RIGHT EVENT. Do you know why the big box stores run their Black Friday deals at 6:00 AM? Because they know it’s critical to capture “first business”; they want shoppers to visit their stores BEFORE they hit the competition. That’s why we recommend you do an “early bird special” – you want your customers to plan a visit to your store before they head of and get lost at the mall. A 50% Off of Any One Item Coupon is the perfect way to get customers to come to you first. Don’t be scared by the 50% off part – you can limit the dollar amount should you so desire. Drop us an e-mail and we’ll e-mail back complete instructions on how to run this event, plus a customizable 50% off coupon template.
How about our Bounce Back Bag Sale, where shoppers are given a 20% discount on everything they can fit in the bag? Our recommended bag has three money-saving coupons to bounce shoppers back to the store three more times. And if you’re really intent on growing sales, you will to include a $500 shopping spree. Depending on your mark-up, that $500 shopping spree will cost you $250 or less. Think of the buzz you’ll build about town!
Beyond Black Friday, consider the “Let it Snow” Promotion that guarantees shoppers a cool deal if your city gets six inches of snow from midnight on New Year’s Eve until six in the morning the next day. If that happens then all purchases made in your store from the day after Thanksgiving to Christmas Day will be absolutely free. And all it will cost you is the price of an insurance policy. Find out more from the National Hole in Once Association: http://www.hio.com
An Illinois furniture store did a similar promotion a few years ago: if the Chicago Bears held the Green Bay Packers scoreless, then all furniture purchased in his store for a certain period of time would be free. Well, the Bears did it and the retailer’s lucky customers got $300,000 worth of free furniture! The retailer enjoyed priceless nationwide press for days all for the cost of an insurance policy. Visit Odds On Promotions for more information: http://oddsonpromotions.com
Given this opportunity why would customers want to shop anywhere else?
Sell gift certificates at a discount. The studies show that 80 percent of all gift certificates are redeemed for more than face value, and 40 percent of all gift certificates are redeemed for twice the face value. So what’s to lose? Offer yours at 20% off during the month of December, but here’s the catch: Gift certificates sold at the discounted price cannot be redeemed until after the holiday. This ensures that customers can’t use them to receive a discount on their own holiday shopping.
And here’s another idea! When a customer purchases a $50 gift certificate, throw in a $5 gift card for her own use. Shoppers who were originally planning to spend $40 will likely add an extra $10 if they know there’s something in it for them.
3. HANDLE THE DETAILS. This will determine how successful your event will be.
* How will you tell your customers about your event? Bag Stuffers, window and in-store signing, plus e-mail blasts are a must. Newspaper, radio or television advertising may also be an option for you.
* How many people can your store comfortably hold at one time? If you run a fabulous offer that attracts hundreds of people, and your store is small, you will irritate more customers than you thrill.
* How many associates will need to be on hand to properly serve customers? How many cash registers will you need to keep the lines moving? Be prepared with temporary registers and seasonal staff. You can even opt to invite customers to help out for a few hours. Reward them with a store gift certificate.
* Will you have one big draw item or many in-store specials? Are you in a good in-stock position, or do you need to re-order fast?
* Which easy refreshments will you serve? You know our motto: “Food is Good!” Customers who nosh while they shop tend to stay longer and buy more.
* Will you have entertainment? Perhaps not at all events, and certainly not on the busy, busy days, but entertainment is always a good idea at your holiday open house.
* Will you have makit & takits and demos? Again, these are a good idea at open house type events, but they will clog the aisles on busy shopping days. Hold them only on days and hours that make sense.
* Will you have giveaways and drawings for door prizes? If you do, where will these items come from? Plan ahead with entry forms and displays of what shoppers can win.
* Draw a schematic of your sales floor, noting where everything will go. You don’t want any surprises on event day!
* On event day, schedule a breakfast meeting with your staff one hour prior to opening. Review in detail everything that will take place during your event. Sometimes people are inadvertently left out of the loop – make sure that everyone knows what is happening, when it’s happening, and what is required of them.
* Make a list of all that will happen that day. Include in-store specials, drawings, coupons, etc. Make sure every single associate has their own copy to carry with them.
* After each event, schedule a staff meeting to review what happened, noting what went well, what didn’t, and what you will want to incorporate next time. Give each associate an evaluation to fill out – you want to see the event from their perspective.
Please do not let this sales-building opportunity pass you by! Yes, you have 12 months of opportunities to host in-store events and promotions, but the holidays only come once a year. Begin by planning a Black Friday blast and keep the events and promotions coming all year long. Make shopping at your store an anticipated experience, not just a place to buy “stuff”. And remember, if you need help getting started, we’re just a telephone call away!
COPYRIGHT KIZER & BENDER 2008
Photo: Stew Milne/AP Photo
