taggstar essential guide to black friday
Our yearly look at the effects of social proof on Black Friday.
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taggstar's five tips to be black friday ready
We lived through Black Friday 2014 supporting some of the UK’s biggest e-commerce sites.
What’s Happening On 27 November?
Brace yourselves. Black Friday is coming. Last year’s retail bargain-fest-come-showdown is about to come back.
It’s taking place on 27 November, and there is just six weeks until what was in 2014, the biggest single day for online sales of the year. Volume retailers are already warming up their web sites to make sure they capture consumer cash.
UK shoppers, with the benefit of last year, will be wiser and shrewder than 2014, looking especially for “hassle-free” shopping and a stress-free route to the best discounts.
Some large large electronics retailers are already tempting their customers to register their interest now for price-beating discounts, so they choose their site over the competition on the big day.
Will retailers be effective when the hour calls to get people to their site to buy?
We’ll see. Taggstar was at the coalface as Black Friday 2014 happened, and it’s not a normal day. If you’re taking part this year, read on for the five top tips the largest eCommerce sites are using to attract shoppers this year.
1) Reduce Obsolete Stock
A popular Black Friday pattern is for retailers to release new products every hour, on the hour. Shoppers are typically excited by a new deal, so a TV released at 12pm for example will fly out of the door for 10 minutes and sales will slow until it’s superseded by a new deal at 1pm.
The trouble for retailers is they now have old stock buried under new offers. Tell shoppers what products are top sellers and trending. This keeps older products fresh in the face of new offers, helping customers get some buying clarity in the frenzy.
2) Deal With Shopping Blindness
Put yourself in your shoppers’ shoes. New products are fired every hour over all the big sites. It’s crazy, it’s high pressure and other shoppers are the enemy in the face of a bargain. Calm things down. Shoppers who didn’t like the intensity of Black Friday 2014 are looking for less stress. present clearly the top sellers, aggregated review data and stock levels. This adds transparency and we think, relieves pressure on making such fast decisions.
3) Tap Into The Crowd
We joke about following the crowd, but the crowd is definitely a factor in a shoppers’ decisions to buy. Showing evidence that thousands, even millions of others have taken the action that a retailer wants them to take - making a purchase, signing up for offers etc - is an important factor called social proof. And on Black Friday it’s all about the crowd.
Convince shoppers that they are following in the footsteps of others, and research shows they’ll be more likely to convert. We know from our own A/B tests that when we show buyers messages about how many people have bought a product, if it’s running low or trending they are a huge 2.8 per cent more likely to buy.
4) Capitalise On The Buying Mood
Despite the stress, the potency of a bargain will drive millions online on 27 November. Fusing this with psychology again, retailers can suggest add-ons, upsell better quality products, highlight matching items and bundles. Why? Because we like to resemble other people. By telling shoppers what others have bought, and what else they bought with that dress, you’re driving up check-out values, but also fulfilling a basic need in buyers to find something in common with other people.
5) Ditch Basket Shock
Reduce abandonment: We don’t know of a retail site that comes with a spending cap. And in the Black Friday frenzy, your buyers may lose track of how much they have in their basket. Good for you, but potentially a bad ‘morning after’ feeling for them. It’s not unusual for people to be shocked by how much they’ve spent and abandon the basket altogether.
Using data from your site, at checkout stage it’s possible to show shoppers ratings or product volumes sold. We know that attaching these messages to products means they are less likely to be abandoned. This extra detail helps buyers decide which items to keep in their basket rather than ditch the whole shop or give them the proof that what they chose was spot on!
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