Historically, businesses have thrown everything they’ve got at Black Friday. It’s a day for large markdowns, huge crowds, and extreme strain on technology. Lately, however, a few stores have begun breaking the mold by offering promotional periods leading up to the big day that actually enhance overall sales.
A new age of Retail has begun. As an IT leader, you need to anticipate the holiday crowds and prepare your technology appropriately for the 2019 Black Friday shoppers.
Think About Blending In-Store & Online Sales
eCommerce has consistently increased its market share over the last five years, from 14.3% growth from 2015 to 2016, growing another 28.0% in 2017, and 22.9% in 2018. Last year, the question on every retail store’s mind is how they were going to compete head to head with the giant that is online sales. This year, it’s all about integrating it into your store’s sales strategy. Retailers are adopting this concept in droves, and it’s giving them a competitive advantage over others who aren’t quite ready to make the leap.
Introduce New Technology to Satisfy the Modern Customer
There’s a lot of truth to this Washington Post statement: “The retailers that are doing well are seeing great returns, while the weaker ones are being left behind.” It’s no surprise that many of the businesses that are currently doing well, like Target, Walmart, and Lowes, are also the ones who invest in innovation. Technology satisfies the modern customer.
With so much riding on this year’s final sales numbers ahead of a possible recession, it’s on the shoulders of the IT leaders and store managers to catch the customer’s attention and bring them into the store.
Prepare for More Traffic
What many don’t realize, however, is that it’s not just about executing this shift in the business model. It’s about making sure it’s ready for and robust enough to withstand the holiday season. Upgrading your infrastructure now gives your business the opportunity to test, tweak, and prepare so that you don’t have an embarrassing lapse during the busiest time of the year.
Secure Your Support
According to The NRF consumer spending report, this Holiday season, “shoppers expect to spend $1,007.24 each. Of that, they’ll spend $637.67 on gifts. Another $215.04 will go for food, decorations, flowers, and greeting cards. They’ll also spend $154.53 to take advantage of the seasonal deals and promotions.” That’s a lot of revenue coming from the general population. With so much importance being placed on this part of the year, it makes sense for businesses to diligently work towards gaining a competitive advantage by investing in a technology partner.
You don’t want to get caught with a POS malfunction as lines of customers are mulling over abandoning their carts and moving on to a competitor. Consistently, the companies who win the Holidays are the ones who are proactive. They prepare for worst-case scenarios and find reliable tech experts like Worldlink to partner with.