Black Friday is a tradition that originated in the United States where retailers cut prices for a huge range of products on the Friday following Thanksgiving Day. It’s a date considered by many the beginning of the Christmas shopping season. Black Friday is getting more and more popular amongst all European countries. Why is it worthwhile to take part in the November sales festival and take care of the appropriate quantity of stock? Find out in our article!
Restock before Black Friday!
Thanks to attractive discounts offered on Black Friday, your sales could definitely grow, so it’s worthwhile to remember to take care of the stock quantity. Putting more effort into the preparation before the discount period will give you a certainty that on Black Friday your shelves will be full of key products.
How to do this? You have to first check the stock of your most popular products or items with high sales potential on Black Friday. Analyse your sales during the same period of time in previous years. Consider the number of discounts and the duration of previous sales. Determine which products were purchased most often, their number and price. Such analysis should let you prepare yourself carefully for the highest number of orders and organize an adequate supply of all products.
If you still don’t know, what products could be interesting to your clients, read on – we write about it in the paragraph: “What products should you sell?”
Probably you already know that nothing would discourage your potential clients more than the lack of a promotional item at you store or the fact that a chosen product has just “evaporated” from their online basket. It is estimated that in the USA in 2018 on Black Friday, online buyers received a message that given item is out of stock when they navigated to its page in 2.8% of cases. On Cyber Monday this happened in 2.4% of cases. In total, it could cost potential sellers as much as 484 million USD!
What is equally important, this year Black Friday falls on 29 November. It’s a period of time when the Christmas shopping fever begins, so you can benefit from it and post information about both Black Friday and Christmas. In spite of many analyses that show that during the Black Friday period we buy mostly on impulse and for ourselves, many of us start already thinking about Christmas gifts.
How much you can really increase your revenue on Black Friday?
Black Friday encourages our loyal customers to shop, but it’s also an opportunity to get new ones, especially thanks to attractive discounts. The examples of many brands show that Black Friday and Cyber Monday could be the biggest sale days of the year.
In 2018, Zalando ended their sales period with a record number of 2,000,000 orders. During rush hour, the company recorded over 4,200 transactions per minute, thereby breaking 2017’s record of 2,000 orders per minute. On Black Friday alone, Zalando gained over 220,000 new customers (twice as many as in the previous year).
Amazon noted a similar success; last year, they issued a statement saying that on Cyber Monday, they sold more products online than on any other day in their history.
How did it look at Coffeedesk?
Last year, we decided to start a promotional campaign on 9 November and offer discounts on individual brands or product categories until 22 November. As a result of the campaign, we increased the number of orders by 64% and the revenue by 45% compared to 2017. As for the Black Weekend itself, during 4 days as many as 66% more orders were placed and 47% more revenue was generated compared to 2017.
On Black Friday alone we also broke the all-time record for the number of orders with a 68% increase compared to our previous best result!
When we take into account spending declarations for Black Friday in Europe, most Europeans are likely to spend 100-500 dollars. It’s easy to notice that as a salesman you have quite a lot to gain. It is worthwhile taking advantage of this potential and persuading your clients to spend at least a part of this budget on your products.
According to the Washington Post, 174 million Americans who shopped between Thanksgiving and Cyber Monday spent an average of $ 335 per person during this period. Millennials (people aged 24-35) spent the most – around $419.52 per person.
When to start the promotion?
This year we celebrate Black Friday on 29 November, but it is more and more popular to extend the sales throughout the entire weekend, week or even several weeks. Over the past few years, the shopping festival has become a real sales marathon with companies trying to capture the attention of customers by starting promotions ever earlier in an attempt to stay ahead of competitors. In fact, each additional day when you can offer your customers interesting discounts can have a positive impact on the sales results as well as on the image of your business.
If you are going to join the companies offering Black Friday promotions, try to extend the campaign for a few days – the weekend followed by Cyber Monday is the most profitable period.
The argument in favour of extending the sales period is data from 2018, when Cyber Monday with the e-commerce sales revenue of 7.9 billion USD turned out to be the most revenue-generating promotion day in the US, which is an increase of 19.3% compared to the year 2017.
Which products should you sell?
Black Friday is a great opportunity to “clear out” the warehouse and get rid of the overstock, but key are products that attract a large number of customers who may not have known your brand before. These products are the Stars of your sale and thanks to them you generate more website traffic or more stationary sale. On the other hand, the overstock can be used as complimentary products or form part of a set during the sale.
If you run a coffee shop or coffee e-commerce company, you will definitely be interested in our list of products that should be available on the upcoming Black Friday.
Here are the Coffeedesk best-sellers from the last year’s Black Friday:
Coffee is a central product to each coffee business, which is why we managed to achieve the highest volume of sales in this segment. Our sales hit were the blends from Johan&Nyström – Ethiopia Guji, Brazil Fortaleza, Espresso Fairtrade FTO, El Salvador Menendez and Ethiopia Welena. Proven blends from this brand, mainly for pour-over coffee brewing methods and at reasonable prices, attract customers at every level of coffee knowledge.
Accessories for alternative brewing methods
No doubt, our bestseller was the AeroPress. It’s a perfect brewing device to use during a trip as well as at home. It’s great for coffee experiments, and can be a perfect gift for coffee lovers who already know drippers or the Chemex well. Speaking of the AeroPress, you should not forget about the Fellow Prismo, thanks to which you can also make an espresso with the AeroPress.
Another important product for us was the Hario Pour Over Kit – it’s a perfect set for beginners who want to start their adventure with pour-over brewing methods. Not so long ago, a very elegant version of this set appeared on the market: Craft Coffee Maker.
Drippers and all small complementary products – in particular dripper filters – were also very popular – make sure that you don’t run out of them!
All coffee lovers know that without a good grinder and freshly ground beans, there will be no delicious brew. Probably this is why the Hario’s manual coffee grinders (the Mini Mill and Skerton) were very popular during the promotion. The iconic Comandante grinder (for more advanced users) and the Rhinowares (which creates a harmonious duo with the AeroPress) were also a fairly frequent choice. Customers also decided to invest more into automatic grinders, i.a. Eureka.
Among the brands selling coffee machines, Moccamaster was undoubtedly the most popular – a well-designed coffee machine created for pour-over brewing methods is an obvious choice when it comes at an attractive price. It is a good idea to sell it in larger sets, e.g. with a coffee and grinder.
On Black Friday, you should also take care of your tea supply. Teapigs were definitely a top-seller. High-quality teas, in eco-friendly packaging, which are great for your own kitchen or as an elegant gift.
Cups and ceramics
Thinking about the stock, don’t forget about Loveramics and reusable KeepCups. These are perfect gift ideas and can be bought by our customers in advance at a good price. Especially because of that, everyone loves their new products and not so long ago Loveramics released a new range of colours and designs for their ceramics.
What are our types?
This year’s sale’s top-seller may be accessories for more advanced users and real coffee lovers. We stand up on the Kruve coffee sifter which allows you to improve the flavour of your coffee and Acaia scales that monitors the weight, time and flow rate as you brew coffee. We also count on a great interest in the Fellow Stagg EKG kettle – the hottest designer premiere this year.
Do you still have doubts whether to organize Black Friday as part of your business? Or maybe you don’t know which products will work best for you? Get advice from our B2B sales specialists.