E-commerce has become an indispensable sales channel, generating significant revenues. Manufacturers and brands are now faced with a challenge: how to boost online sales and sustain their growth. This is where global online shopping festivals and events come into play, representing a key opportunity to participate in this growth.
Underestimating these events by viewing them as mere dates on the annual calendar would be a mistake. In reality, participation in these global online shopping festivals and events can offer multiple advantages to brands, especially when exploring international opportunities. Thanks to e-commerce and its technology, brands can establish their online presence on global platforms without incurring the costs associated with physical store construction, while minimizing the inherent risks of this approach.
With relevant data, brands can assess and track the performance of their products by platform and market. This enables them to make informed decisions regarding the allocation of resources in advertising and promotions, ultimately improving the overall return on investment for their business.
Black Friday, originally from the United States, has now become the most eagerly awaited global commercial event. According to NielsenIQ Foxintelligence, European countries such as France, Germany, Spain, and the United Kingdom have all recorded a surge in online sales during Black Friday.
For example, in France, online purchases saw an 87% growth compared to the 2021 weekly average during the Black Friday week. In Germany and Spain, the impact was even more pronounced, with online purchases on Black Friday reaching four times the daily average, compared to three times in France and the United Kingdom. Additionally, the number of buyers making online purchases during the Black Friday week increased by 5% in 2021 compared to 2020 in Germany and Spain. In Turkey, e-commerce sales saw an impressive 269% increase during Black Friday, according to NielsenIQ e-RMS.
Black Friday and Cyber Monday are fast approaching, and just like consumers, merchants need to prepare accordingly.
Here are the key steps to follow now to meet the expectations of shoppers during Black Friday and Cyber Monday.
Advance planning: Anticipate your offers, discounts, and promotions. Determine which products will be on sale and at what prices.
It's also time to reach out to influencers to partner with your campaigns. Plan to highlight user-generated content (UGC) that effectively promotes your products and services.
Inventory management: Ensure you have enough stock to meet the expected demand. Avoid stockouts.
According to Bluecore, 69% of Black Friday shoppers in 2021 dropped a brand because the product they wanted was out of stock.
Enhanced customer service: Prepare your team to handle an increased volume of customer inquiries and questions.
Thoroughly review all product listings: It is crucial that your product pages feature high-quality images, comprehensive and user-friendly descriptions, and, for more technical items, demonstration videos.
Additionally, ensure you choose the appropriate keywords to optimize the SEO of your product pages on search engines, considering the terms used by shoppers in their searches.
By following these steps, you will be better prepared to maximize your sales and provide an exceptional shopping experience for your customers during these important shopping events.