Black Friday and Cyber Monday (24th – 27th November 2023) are massive sales events, offering tremendous opportunities for e-commerce businesses. This article provides actionable steps for Amazon Sellers and Vendors to excel during this shopping event. 

The global event, known for its irresistible in-store and online deals, generated a staggering $9.12 billion in online sales last year according to Forbes and is currently predicted to be larger in 2023. According to Statista, 71% of UK shoppers state that their reason for shopping in this time is precisely because it offers better deals and prices for buying gifts.  

Year-on-year growth has been strong, and this trend is expected to continue, following a record-breaking Prime Day this year. Our analysis of 68,360 units sold during the event in 2022 shows that Cyber Monday outperformed Black Friday. Peak sales for Black Friday were at 9am for Canada and the US, and 4pm for the rest of the world. For Cyber Monday it was 6pm for Canada and the US, and 9pm for the rest of the world. 

While preparing for these events, keep in mind the uniqueness of China’s Singles’ Day (11/11), which surpasses Black Friday and Cyber Monday combined in sales, making it a significant consideration if you operate in the Chinese market. 

5 Steps to Prepare Your Online Business for Success 

1. Plan Strategically: Create a detailed plan that includes the products you’ll feature, pricing strategies, and marketing efforts. Consider offering exclusive bundles or discounts to attract shoppers and think about what excess stock you may want to be rid of.  Ensure you’re aware of Amazon’s deadlines to participate in the event and be aware of any other platforms that may offer your products on a lower deal as it will hinder your ability to win the Buy Box on Amazon. The deadline to submit ‘top deals’ is Friday 3rd November but to set-up Prime Exclusive deals and other self-service promotions you have up until 48 hours before. 

2. Optimise Your Brand Store: Update product listings, images, and keywords where necessary. Provide specific Black Friday/Cyber Monday messaging and imagery to entice shoppers. 

3. Stock Up: Inventory management is crucial. Stock up on popular products and consider using forecasting tools such as Acorn-i’s proprietary analytics tool Ignite to predict demand accurately. Be aware that due to heavy discounts as associated with these events you’ll be selling larger quantities of units than usual. 

4. Set a Marketing Calendar: Plan your marketing campaigns well in advance. Email marketing, social media advertising, and Amazon ads to increase visibility. You will want to have campaigns live by mid to late October at the latest to start to gain traction. 

5. Monitor Competitors: Keep an eye on your competitors’ pricing and promotions. Be prepared to adjust your strategy accordingly to avoid losing out to them. 

In conclusion, Black Friday and Cyber Monday offer incredible opportunities for online sellers. Strategic planning and optimization can make these shopping holidays highly lucrative so stay updated with industry trends and reach out to info@acorn-i.com for assistance. With the right preparation, these events can become the most profitable days of the year for your online business. Happy selling!