36.5 billion dollars were spent last Black Friday. That’s 36.5 BILLION, with a B. And if you’re ready for the onslaught of consumers ready to spend their money on November 23rd, your store could get a piece of that action.
With less than 18 days to go, I know your news feed is probably flooded with Black Friday tips, tricks, and guides, and I hate to add another 'must read' article to your list , but I can’t stress to you enough how important it is for your store to be prepared!
That’s why we put together this guide for you: to show you 3 quick and easy sales you can run on your store to make sure you’re making as much money as possible this holiday season.
Let’s get started.
'Buy One Get One Free' sale
Every year 7-Eleven has a Free Slurpee Day, where the chain gives customers a free small Slurpee with no strings attached. On the surface, you might assume that 7-Eleven would be losing money on the deal, but instead, sales shot up 38% on Free Slurpee Day even though the chain gave away 4.5 million free drinks.
Why? Because people love getting things for free!
The lure of the free Slurpee got customers in the door, and from there they ended up spending more money. And you can do the same thing on your eCommerce store.
With a Buy One Get One Free sale (BOGO), instead of offering a discount on a purchase, you give your customers a free product when they purchase another item in the promotion. You can even try different types of promos, like a "Buy 3, get 1 free" sale, or even "Spend $100, get a free gift."
How to set up a Buy One Get One Free sale
We tried to make it as easy as possible for you, so head over to our post on setting up a BOGO sale on Shopify for step-by-step instructions on setting up this type of sale on your store.
All you'll need is one app, Bold Bundles, to set up the sale in just a few minutes. And with low monthly costs an an awesome free trial, that means more sales for you with zero upfront costs.
The 'Buy More Save More' sale
Some buyers are enticed by a free gift, but with 81% of buyers already knowing what they want to buy on Black Friday, offering a discount might lock more shoppers in.
With this type of sale, the more a customer buys, the better price they get. Think buy two and get 20% off, buy three and get 30%, etc.. The percentages can change, but the idea stays the same: You want to reward your customers for buying more on your store. They get a bigger discount, and your average order value goes sky high.
Here are two different ways to run this type of sale on your store:
Offer a discount on one type of item
This is just like the example above, where you offer buyers a “Buy X, get Y% off” discount. This works great for anything that customers usually stock up on: food items, cosmetics, and hair products, things that people naturally run out of and would likely buy more of in the future. It’s also a really good sale for parents who want to buy matching outfits, or two of the same toy for their children to avoid fights.
Offer a discount on multiples of different items
Another way to hold this type of sale is to offer discounts when customers buy certain amounts of the same item, but with a variation allowed. Here’s where you can get creative! Try offering the:
- Same item, different brands. (One Reebok T-shirt, one Nike T-shirt)
- Same brand, different items. (One Reebok T-shirt, one Reebok pair of shorts)
- Items from a collection. (Any grouping of items that you’ve tagged as a collection. For example, if you sell apparel, maybe all items in your fall collection are offered in the promotion).
- Literally anything in your store!
How to set up a Buy More Save More sale
This is another easy one to set up. All you'll need is Bold’s Quantity Breaks app, and in about 3 clicks you’ll have your sale ready to go. All you have to do is pick the products you'll be discounting, how much of a discount you want to offer, and make the sale live. Head over to the app page, give it a download, take a quick look at the video, and you'll be set up in no time.
The classic store wide sale
The best way to get your customers to convert is to make it as easy as possible for them to shop. And the easiest, most straightforward type of sale you can run on your store this Black Friday is a store wide sale.
Typically, a store wide sale is when all items on your store are discounted for a certain percentage off. It’s up to you to choose the amount (25% off, 50% off etc.), but ideally you’d still be making some sort of profit off each sale.
First find out what your markup percentage is by using this guide. This will give you the amount of profit you’re making off each of your products percentage wise. If you’re only making a 20% profit, I wouldn’t offer your products at a 25% discount or you would be losing money. Or, if you don't feel like manually calculating those numbers, you can use an app like Profiteer to do it for you.
How to set up a site wide sale on your store
The great news is you don’t have to manually adjust all the prices on your store, which could take hours depending on the number of products you have. Use an automatic product discounting app like Bold Discounts to run a sale on certain collections, brands, product types, hand picked segments, or even your entire store with no coupon codes!
We love that it adjusts the price of every item going on sale with one click, and your customers will love that it puts the old regular price in a "compare at" price field beside the sale price so they know exactly how much they’re saving.
Pro Tip: Offer your customers free shipping! Sixty-one percent of shoppers would leave a website if it didn’t have free shipping, and it might just be what sets your store apart from your competitors. It’s super simple to set up too.
Check out this post on offering and promoting free shipping on your Shopify store to have your free shipping offer set up by the end of the day.
You can even use the app to set your free shipping starting at a certain dollar amount (think free shipping on orders over $50). It's what they call a win-win situation: they get free shipping, and you don't lose money on smaller orders.
With the average person spending just over $403 USD on Black Friday, we want to make sure your store is getting some of that money. So pick one of the three sale ideas above and start prepping your store for the big day.
Want to know more? Check out our best Black Friday conversion strategies and optimization tips all in one place!
Don’t forget to leave a comment below letting us know what sale you’ll be running!