This November 24, Black Friday begins, a fundamental campaign for e-commerce that will increase spending by 35% more than last year, according to the latest Milanuncios study in which 45% more orders are expected to be sent. than in the last event.
On the other hand, the report ensures that Spaniards will spend on Black Friday from 162 euros to 284 euros on average, collecting several surveys: “Increasingly, the bulk of sales are concentrated in small seasonal peaks,” it explains. Jorge García, ecommerce expert and co-founder of Marketing Paradise.
“This makes the price effect very relevant, especially in products with little innovation, where the relevance between buying it in one store (online or physical) compared to another is minimal,” highlights García, who assures that the dynamic “can end in a concentration of a few companies that, based on price, take over the market compared to small competitors without the financial strength for large stocks or making sales at a loss.”
In parallel, García warns that online businesses must take into account “that the campaign begins long before the discounts themselves. A clear strategy must be drawn up so that, when the lawsuit begins, your homework has been done.”
This means that “companies must clearly define discounts, dates, product verticals, messages and what they want to achieve: Planning everything in advance will mean that our audience knows what they can expect from us,” reminding the customer “why "You should buy the product from us and why from us."
Once the Black Friday campaign begins, “it is time to focus on the price and the feeling of scarcity,” so it is advisable to “notify that there are few units left (when it is really true) or that the promotion ends soon are incentives that They work very well to close sales.”
However, despite the mostly favorable data, Black Friday can be negative “especially for ecommerce that do not do the numbers beforehand. Or that they cannot afford to compete in an environment of high discounts (both now and the rest of the year),” explains the expert.
“For example, brands that do not manufacture, and therefore have less margin, must assess whether entering into a battle in which the customer looks at price as a special reason for purchasing is worth it. If you do it wrong, you may have a month of billing a lot but earning very little... or even losing money. Sometimes it's okay to lose, looking in the long term, but this should be something predefined, not a surprise after the campaign," García highlights.
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