Black Friday means many things to different people. If you are a resident in US or you are used to shopping online, you would have been heard of Black Friday, Thanksgiving Thursday and even Cyber Monday. Basically, Black Friday, Cyber Monday and Thanksgiving Thursday are annual events in United States and most government employees in some states in US have public holidays to celebrate this.
Black Friday is an annual event on the Friday after Thanksgiving Thursday. Basically, it is the day for ‘shopping frenzy’. Yes! All stores and even online shopping sites reduce the prices on their goods to woo customers. There has been record of people standing in line and rushing for products before the stores are opened. Simply put, Black Friday is the period when most stores and retailers record the highest number of sales. These sales could translate to profit to some and loss to others, depending on the products sold and the discount on them.
Black Friday sales and ads are always announced before the day to prepare the customers for the shopping frenzy. But some stores, due to the limited number of products, only announce their Black Friday deals on the day. If you are a retailer, Black Friday might be a good opportunity to record the highest sales and profits if done perfectly. Thanks to the internet, most people outside US are taking advantage of websites offering Black Friday deals by getting their credit card ready as soon as the discounts go live. As an online retailer, you need to know what people are really searching for during Black Friday and you can position yourself even as an affiliate to give it to them.
Most people decide what they want to buy on Black Friday while others only buy what is advertise to them on that day and they are hooked up into buying because of the low sales. As online shopping is gaining ground all over the world and also in Nigeria, most ecommerce sites are leveraging on Black Friday to attract customers to make more sales. For some products, profit is determined by the number of sales made on low margin (which is usually on Black Friday or any other shopping holidays) while other products, profits are determined by the high cost of each product sold. Whatever you sell, you can make lots of money and yeah, profits, on Black Fridays and other shopping holidays that attracts thousands of customers into buying both the products they want and the products they dont need.