In recent years, the most important sales date has established itself as one of the most significant events for both consumers looking for discounts and for entrepreneurs and big brands looking to boost their sales. Even though Black Friday 2023 may seem far away, it is crucial to start preparing in advance and reflect on past experiences to make informed decisions.
Analyzing data from previous Black Fridays is a key step in this preparation process. By examining performance and results from previous years, you can identify patterns, trends, and valuable insights that can guide your strategies for success. For example, you can learn which products were most in demand, which promotions were most effective, and which marketing channels generated the best results.
Keep reading this article to learn tips and insights based on previous Black Fridays, so you can prepare and apply the best strategies to your campaign.
Black Friday 2022 results
The years 2020 and 2021 saw significant growth in sales, but in 2022 , the date performed below expectations. A survey conducted by Neotrust showed a drop in sales and revenue compared to 2021:
There was a 17.4% reduction in the number of orders placed.
Total revenue was R$6.2 billion, a drop of 22.5%. On Friday alone, revenue was R$3.1 billion, a drop of 28.1% compared to the previous year.
28.8 million products were sold, which represents a decrease of 12.2% compared to 2021.
For the first time since the event began in the country, there was a costa rica phone number data drop in sales during Black Friday. However, several factors may have contributed to this performance, such as the reopening of physical stores, the World Cup taking place right at the time of the event, high inflation and the country's political scenario.
Despite these fluctuations, Black Friday remains one of the most important dates for e-commerce and for increasing sales. Therefore, it is essential to prepare properly to make the most of this period. Below are some essential tips to prepare for Black Friday 2023:
Tips to prepare for Black Friday 2023
Black Friday, or any event that boosts sales, requires early action. Why? If there is no good planning, there is a high chance of facing problems in the future. In other words, it is essential to make a list of priorities, such as:
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Review of past results
It's essential to analyze the data and metrics from the previous Black Friday (if you participated) in order to extract valuable insights. Identify the best-selling products, those that generated the most profit, the best-performing marketplaces, and the most effective offers. This detailed analysis will allow you to replicate successful strategies and rethink more efficient approaches.
Setting goals and creating an action plan
Setting clear goals for Black Friday 2023 is essential to creating an effective action plan. For example, set a realistic goal, such as increasing sales by 10% compared to the previous year. It's important to write down these goals and track your progress over the months, adjusting your strategies as needed.
Don't forget the stock
It is extremely important to have accurate inventory control to avoid waste and ensure adequate product availability during periods of high demand. Furthermore, it is essential to carefully analyze the data to obtain the most accurate information. Furthermore, it is crucial to identify the most popular items among customers and replenish the stock in a timely manner. By implementing these practices, you can significantly improve customer service and optimize sales opportunities. This way, you will be better prepared to meet customer needs and create the most profitable sales opportunities.
Process automation with tools
There are several tools and software options available for e-commerce, marketplaces and other areas, offering a wide range of functionalities to automate daily tasks. These solutions range from issuing invoices to managing inventory, sending emails, publishing ads and much more. Take the time to implement and adapt to these new tools so that you can take full advantage of their benefits and obtain significant advantages.