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HOW BRANDS CAN BE PROFITABLE DURING BLACK FRIDAY

I’d like to make the bold proclamation that everyday is Black Friday now online.

 

How are eCommerce retailers playing into the hype of Black Friday this year?

Well, many are not. In fact 14% of the Black Friday “deals” you see aren’t really deals.

 

Twice.com analyzed Amazon’s retail prices of the last 4 months, then compared them to this week’s Black Friday pricing.

 

What did they find? Out of 9 product categories consumer tech and home appliances were the least discounted of all product categories. (I know, that was surprising to me too!)

 

Here’s the savings you’ll find by category:

  • 30% savings in appliances
  • 26% savings in electronics
  • 25% savings in computers/phones

Want to save hundreds and even thousands on Black Friday? Shop these categories:

  • 73% savings in jewelry
  • 48% savings in books, movies and music

Want to feel like you can know you’re getting a good deal? Shop these retailers that offer a 90% – 100% of actual Black Friday savings:

  • Microsoft
  • Dell
  • Best Buy

According to wallethub.com, the best overall deal this Black Friday is $200 off: ASUS – TUF Gaming FX705GM 17.3″ Laptop

Surprisingly Walmart scored the lowest (agains the last 4 weeks of retails on Amazon) for good deals at only a 61% actual savings.

How is brick and mortar stepping up their in store experience for Black Friday?

According to Chain Store Age, Walmart is hosting 19,000 in store events to let kids test out the toys. They have also launched Toy Lab, where kids can go online and become Toy Testers in a digital environment on https://walmarttoylab.com./

2018 Holiday Consumer Confidence

According to Bloomberg News, “Consumer confidence is sky high. Median wages are on the rise. Household are wealthier then a year ago thanks to continued gains in the stock market and home values. This could be “…the best Christmas shopping season in recent memory..”

How brands can be profitable when every day is Black Friday?

 

Black Friday every day is great if you’re a consumer, but terrible if you’re a brand. So what can you do to squeeze profitability out of this new phenomenon?

 

  • Make it a best practice to frequently go back to your factories and ask for lower pricing.
  • Ensure you’re using the latest technology in your products and updating them yearly. New technology is often cheaper than what you might have been using from several years ago!
  • Find ways to cut costs in packaging or materials.
  • Sell direct and cut out the middle man.
  • Sell directly on your website (I love Shopify!) or create a subscription model. Shoppers love to be surprised monthly by brands they know.
  • Create an exclusive line of products for Amazon/eCommerce.

 

I teach most of these concepts in my online courses, The “A” Game and The Path to Walmart.

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Jennifer glitter about

Hi I’m Jennifer! As an entrepreneur who has worked for the largest retailer in the world, I bring a wealth of knowledge, wisdom, experience, and expertise in Walmart and Amazon.

 

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