Black Friday Tips for eBay
Black Friday is still a while away and it may be a good idea for any business person out there to start preparing so that they can take full advantage. We always advise planning 6 months in advance for the big day.
Remember that Black Friday is the biggest retail day of the year and this is why it is very important to prepare adequately for this day. Here are some tips that every website retailer or eBay seller should know when preparing for Black Friday:
Ensure that you have a Black Friday category in your eBay shop and website
This may seem like some pretty basic stuff but it is very beneficial as it will make it will make your products easily accessible and make it easy for your potential customers to find any special deals you may be offering.
Prepare shop banners
Get banners and on eBay, ensure that you have promotion boxes ready to go live and link to your Black Friday shop categories. A home page with banners shows shoppers that they are welcome and tells them that the page has deals worth checking. Even if you are unable to offer deep discounts or any discounts, then it may be a good idea to decorate your shop front for Black Friday.
Sending out email marketing or eBay shop marketing ahead of Black Friday will help prepare your customers and remind them that you have something to offer. Prompting them a couple of days early could pay dividends.
Populate your Black Friday category
Ensure that you have stock ready to drop into your Black Friday category. Look for attractive merchandise (even if it is not discounted) that will attract impulse buyers or those who want to buy Christmas presents. Flea Spray is among the most popular products in Amazon’s Home & Garden Category but it may not be what shoppers are looking for on Black Friday.
Liquidate aged stock
All aged stock should be added to Black Friday promotions and sold at a discounted price. Remember that an item that aged stock has cost you a lot many times over and it is good to get rid of it this Black Friday. Don’t think of how much profit you will make by selling it at a discounted price.
Just see it as a way of preventing further losses. Keep in mind that the more times you churn your money in the course of a year, the more profitable your business will be. So, it is a good idea to cut your losses by selling old inventory at a discounted price and liquidate.
Come up with bundle listings, combine products into gift sets and increase the size of your average basket. Many people like gift sets and surprisingly, they may sell well even if the individual products are not sold at a discount price. This is a good way to guide people towards great Christmas gifts and extract more money into the bargain.
Set up cross promotions
If you are able to offer discounts that won’t cost you so much, the better. Set up shipping promotions for all the products you will be promoting on Black Friday. Tell your customers that you will provide free shipping for larger monetary spend or additional products.
However, it is a good idea to ensure that the threshold for free shipping is above the price of most of the items in order to make your customers buy expensive goods or preferably make multiple purchase orders.
EBay Store Widget
An eBay store widget for your site is a great way for sellers to import their eBay store to their sites with a simple click of a button. It can really help to push your eBay store on your own site and encourage sales.
Know your margins
Knowing your margins will help you avoid making losses and also help you offer discounts where appropriate. For instance, even though you want to liquidate stock, it may not be a good idea to put up a blanket 20% discount and end up making losses.
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