Even though shoppers are now spreading out their purchases and retailers are offering deals over a longer period, Black Friday & Cyber Monday are still very attractive for shoppers. According to Google Search Trends, the number of daily searches for the keyword “deals” went up by more than 2,300% last year during Black Friday and Cyber Monday compared to September.
The problem with black Friday deals is you make less money, the idea is that the decreased profit margin is countered by the increased volume in sales.
Wouldn’t it make more sense to offer deals that maintain profit margin and increase sales volume?
Using Value Added Deals
- 'Percentage off' discount deals simply lose profit margin, value added deals where products are bundled together into a package can still be a great deal for your customer but will also retain more profit margin, making Black Friday & Cyber Monday beneficial for your business and your customers.
- Bundle deals are also a great way to clear slow moving stock, pair a fast-moving popular product with a complementary slow-moving product to clear some shelf space for more popular products.
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