Black Friday: it’s the carrot that dangles enticingly before businesses both small and large. Your success immediately after the Thanksgiving holiday can actually amount to a large proportion of your annual profits. In 2012, the total spending over Black Friday weekend amounted to an astounding $59.1 billion, up a whopping 6.7 billion from the previous year. With those figures, it’s no wonder you want your business to cash in on the action.
How can you make sure your brick-and-mortar store is ready for the onslaught of customers during those vital three days? Believe it or not, the answer lies, to a great extent, in the state of your retail credit card processing system. That’s because customers are no longer buying with cash or checks, instead opting to use plastic in the form of credit, debit and gift cards. If your retail credit card processing system is up-to-date and if you are comfortable using it, chances are good that your customers will appreciate the ease and convenience they find when shopping in your store. Their satisfaction means return visits and positive word-of-mouth messages to their friends and family.
There are other inexpensive yet invaluable ways to prepare for holiday shoppers. First, find ways to let potential customers know who you are, what you sell and why they should patronize your store. That can mean anything from social media posts to old school classified ads. Also, consider drawing people in with specials, freebies and drawings. Finally, don’t be shy. Connect with a business mentor who has already found success in attracting customers in your area. There is certainly no need to re-invent the wheel.
As a 2012 ShopperTrak survey shows, there is no shortage of potential buyers. In fact, there were 307.67 million people shopping in brick-and-mortar stores over Black Friday weekend last year. As long as you are well-stocked with products, are ready to accept plastic and are open to learning from the experience of other successful business owners, chances are excellent that your Black Friday profits will soar as well.