Black Friday and Cyber Monday are two major shopping events that go deep in retail history. Black Friday marks the unofficial start of the holiday shopping season with in-store discounts, whereas Cyber Monday focuses on online sales. The sellers give significant discounts and promotions during this time to draw large crowds to the physical stores. This is the opportunity for them to boost sales and revenue.
When Will Be Black Friday and Cyber Monday in 2023?
Amazon Black Friday and Cyber Monday, often called BFCM, is that time of the year when people hunt for the best bargains on a variety of items, and since Amazon is a popular place to shop from, it becomes the platform. Hurry up, buckle your seat belts as they are right around the corner. The 2023 Black Friday falls on November the 24th, and Cyber Monday which follows right after on November the 27th.
Black Friday always falls on the day after Thanksgiving in the States, and Cyber Monday follows the next Monday. These days in particular offer big discounts on a wide range of products ranging from electronics and clothes to anything for your home.
Since the occasion promises to get many things sold, it is important for you as sellers to ensure that you have enough stock to meet the upcoming demand in the season. Most of you would have started preparing for the holiday season shopping, like 7-9 weeks prior to the sales event, and if you have not and have no idea where to begin, we will guide you through it. It is a bit late to work with your suppliers to be sure that you have plenty of stock that you would need but you can still make a cut. Read the article till the end and take notes, you have not missed this Hogwarts train yet.
Why Planning for Black Friday and Cyber Monday?
As Amazon sellers, here are a few eCommerce black Friday tips for sellers that you can keep a tab with and make a big profit and sales this Black Friday and Cyber Monday (BFCM). On the same note, you need to understand that this time comes with neck to neck competition and add on difficulties which makes it all the more important to prepare beforehand.
Below given are the reasons why all the sellers should be ready for Black Friday and Cyber Monday, planning which in advance and taking necessary steps would get you the most of this shopping event.
Reasons to plan for Black Friday and Cyber Monday
Since BFCM accounts for a big holiday, it is obvious that it is going to be a big busy shopping weekend of the year, which implies that it is going to fetch substantial boost in the Amazon seller’s sales. In 2022, Amazon sellers made an impressive $9 billion sales during the BFCM combined.
BFCM is the best chance for Amazon sellers to make new customers and connect with them. In this period, lots of shoppers are on the search for great deals on various items and Amazon is the go-to place for them
The sellers have this amazing opportunity to increase their profits by increasing their sales and attracting more new customers during the Black Friday and Cyber Monday. You could also do that by generating extra sales by providing discounts, coupons to avail, Buy one, get one free offers.
What are the Challenges of Black Friday and Cyber Monday?
Increase in Inventory Demand
As sellers you should make sure that you have enough products in your stock to meet the high demand during the Black Friday and Cyber Monday weekend. It can be tricky for those who especially sell popular items. For that you should check the sales data from the previous year and use the inventory management tools to make predictions.
Increase in Shipping Demand
The sellers should be prepared for the sudden increase in the demand during the BFCM. Amazon asks FBA sellers to order products early and ensure that it arrives at the fulfillment centers by the end of October due to the peak holiday season. On the other hand, FBM (Fulfillment by Merchant) sellers need to coordinate with the shipping partners to make sure that their orders arrive on time.
Increase in Competition
If you wish to stand on the top, you need to compete for the shoppers attention and business. You need to offer them attractive deals that would deliver excellent customer service which would make you stand out.
What Should You Sell on Black Friday and Cyber Monday?
You should keep a few things in mind when choosing what to sell on the Black Friday and Cyber Monday. A number of factors go into play here including the product popularity, the profit you can gain out of it, and how many sellers are offering the same thing.
Here are a few products that are popular with the shoppers on BFCM that include electronics, toys, clothes, home items, and gift cards. You should also keep this in mind that not all the products can become a part of these special sales.
Selling Tips for Black Friday and Cyber Monday
The BFCM offers a great chance to make a significant profit share since the shoppers are willing to spend more during these times unlike the other times of the year. Here are a few tips to help you make the most of your Amazon sales on Black Friday and Cyber Monday.
As they are the most significant sales days for the amazon sellers, it is best if you get a head start with your preparations. Start at least 7-9 weeks ahead, this will give you ample time to order and stock the products you need. Making sure that you have well stocked in advance gives a sense of security that you wouldn’t have to run around at the 11th hour. Note that the last day to send the inventory for Amazon’s fulfillment centers was October 26, 2023.
Submit Your Deals for BFCM on Time
To show your offers for Black Friday and Cyber Monday, you should send them to Amazon beforehand. The cut off date for which was September 30, 2023. You may request BFCM deals on the Deals Dashboard.
Deals to Offer
Types of deals you can provide
A range of deals is provided by Amazon for BFCM, such as 7-day deals and exclusive discounts for the Prime members.
These deals are short-term offers which are available for a limited time and in limited quantities.
Deal of the Day These deals get highlighted once a day for a limited time.
Offer Competitive Deals
It is obvious for shoppers to look for the best bargains on the BFCM, so you should offer competitive prices for your products. You may take help of the tools to find out the current price offers and the average prices that are listed in the Buy Box to set those rates.
Make the Shopping Experience Hassle-Free
It is your duty to ensure that your product listings are straightforward and precise with helpful information. Optimize them for easy searching and purchasing, including keywords that are related to Black Friday and Cyber Monday.
Start Promoting Your Deals
Promote your offers well in advance so that the customers can be well informed and prepared for BFCM. You may begin with the promotions at least a few weeks before the big day. Spread the word through social media, email marketing, and Amazon’s advertising platform.
There is no doubt in it that Black Friday and Cyber Monday are the year’s most shopped weekend, and it gives the Amazon sellers a great opportunity to earn profits and make good sales. Following the tips in the article, you can boost your sales and profits during Black Friday and Cyber Monday in 2023.
Through careful planning and executing the plan efficiently, you can turn the BFCM season 2023 into a successful selling season. If winning at the BFCM is what you aim for, consider partnering with an Amazon account management experts team like MMF Infotech Technologies where we help you identify profitable products, assess the demand, understand your competition and help you with the sales estimation. Even the last minute help at this stage may help you get that sales boost. Contact us today!