4 Retail Lessons Learned from Black Friday & Cyber Monday

A Cyber Winter Wonderland: Online Holiday Sales Outperform

Shopping for amazing deals is even more appealing when you can do it from your couch. At least that’s what shoppers appear to buy into. Year after year, more shoppers skip Black Friday’s 5AM ‘round the block lines in favor of shop early online-only deals and Cyber Monday sweeps.

In 2018, Black Friday and Cyber Monday earnings grew to unprecedented levels. | MakersValley BlogOn Black Friday of 2018, retailers earned a record breaking $6.22 billion in online sales – that’s 23.6% more than the previous year. However, Cyber Monday far surpassed those impressive earnings with sales totaling $7.9 billion, 19.3% more than Cyber Monday 2017.

Retailers also noted two other trends:

  1. Online orders for in-store product pickups
  2. Increased mobile device sales

Responding to New Retail Trends

The holiday season is the highlight of any clothing retailer’s calendar. Revenue made or not made during this time can make or break the year’s budget, so it’s important to plan for success:

  1. That means, whether or not you have a brick-and-mortar boutique, to make sure that you have a clear, functional, and easy to shop online store. There are a lot of tools that can help you do this, and you can choose whether to operate your store through an online marketplace or your own e-commerce website.
  2. If you have a brick-and-mortar, offering online sales and in-store pickups can give you an edge over the competition. Customers want convenience, and they want the best deal. Eliminating the shipping costs for both you and them is a dollar-saving win-win. Plus, giving them the option to pick up their products on their own time means that they can do so when it’s convenient for them, and that they won’t have to wait longer than they want to try on their purchases.
    Read the top lessons that Black Friday and Cyber Monday taught clothing retailers in 2018. | MakersValley Blog
  3. Test your website for mobile-friendly sales, and make sure your online store domain starts out HTTPS instead of HTTP. This should be a fundamental test for your website, holiday season or not. Today’s customers expect this, and won’t hang around if your check out page reads ‘not secured’ (HTTP) or isn’t responsive to their screen size.
  4. Offer personalized mobile offers to mobile device shoppers. Despite the influx of holiday shopping traffic coming from mobile (57% of the total), only 39% of the Black Friday-Cyber Monday revenue came from mobile. That means that there’s an opportunity for you to turn those visitors who don’t buy into a sale using mobile-only incentives. Try offering a promo code that’s just for mobile, dollars off on shipping when customers buy from their mobile device, or a purchase gift incentive to checkout via smartphone.
    Learn how to make sure you have a record breaking Black Friday and Cyber Monday in your store. | MakersValley Blog

How did your store do during the big holiday sales weekend? Did Black Friday, Small Business Saturday, or Cyber Monday give you the best revenue boost? Share your experience in the comments.

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