Savannah Rushforth’s Post

Black Friday and Cyber Monday represent huge sales opportunities for retailers—but also major undertakings for their finance teams. They need to carefully predict inventory needs, plan for increased marketing costs and respond quickly to potential challenges like supply chain issues. In this blog from Vena, find strategies for retail FP&A teams to make the most of these holiday shopping days. 🛍 #BlackFriday #BFCM #Retail

Black Friday and Cyber Monday represent huge sales opportunities for retailers—but also major undertakings for their finance teams. They need to carefully predict inventory needs, plan for increased marketing costs and respond quickly to potential challenges like supply chain issues. In this blog from Vena, find strategies for retail FP&A teams to make the most of these holiday shopping days. 🛍 #BlackFriday #BFCM #Retail

Black Friday and Cyber Monday represent huge sales opportunities for retailers—but also major undertakings for their finance teams. They need to carefully predict inventory needs, plan for increased marketing costs and respond quickly to potential challenges like supply chain issues. In this blog from Vena, find strategies for retail FP&A teams to make the most of these holiday shopping days. 🛍 #BlackFriday #BFCM #Retail

Black Friday and Cyber Monday represent huge sales opportunities for retailers—but also major undertakings for their finance teams. They need to carefully predict inventory needs, plan for increased marketing costs and respond quickly to potential challenges like supply chain issues. In this blog from Vena, find strategies for retail FP&A teams to make the most of these holiday shopping days. 🛍 #BlackFriday #BFCM #Retail

🌟 Black Friday & Cyber Monday 2024 🌟 Beyond the discounts and shopping carts lies a crucial financial strategy. CFOs and their teams are crunching numbers to ensure every sale contributes to long-term growth. From tracking average order value to measuring customer lifetime value, understanding these metrics is the key to unlocking sustainable success. Want to know how finance leaders are driving retail performance this season? Read more ➡️ https://lnkd.in/eUSudzQP #BlackFriday2024 #FinanceStrategy #CFOInsights #RetailGrowth

Who was the first retailer to push Black Friday and Cyber Monday deals? I've never thought about it...but earlier today, I dove into the history of it a bit more when Eric Carlson posted about the origins of modern-day Black Friday. 𝙎𝙤, 𝙬𝙝𝙤 𝙞𝙨 𝙩𝙝𝙚 𝙛𝙞𝙧𝙨𝙩 𝙧𝙚𝙩𝙖𝙞𝙡𝙚𝙧 𝙩𝙤 𝙥𝙪𝙨𝙝 𝘽𝙡𝙖𝙘𝙠 𝙁𝙧𝙞𝙙𝙖𝙮? 🛍️ Macy's was the retailer that publicized Black Friday and pushed it mainstream, but they were not the "first." ⬛ Small regional retailers in Philly were the ones that were the ones that officially offered Black Friday deals. Those regional retailers are ones like Gimbels, which operated between 1842 and 1987. The first Gimbels was opened in Indiana by Adam Gumbel. Later, it expanded as far as New York and had a flagship store across the street from Macy's on Herald Square. 🧝 𝗙𝘂𝗻 𝗙𝗮𝗰𝘁: Gimbels was paid homage via CGI in Will Ferrell's movie Elf. Picture below. 𝙎𝙤, 𝙬𝙝𝙖𝙩 𝙖𝙗𝙤𝙪𝙩 𝘾𝙮𝙗𝙚𝙧 𝙈𝙤𝙣𝙙𝙖𝙮? Cyber Monday was formed by National Retail Federation via their online division Shop.org. 💻 in the early 2000s, retailers noticed a spike in online sales the Monday after Thanksgiving...it was tied to people going back to work on Monday and using the internet at work to shop because, at that time, it was much faster than what people had in their homes. 🛒 𝗦𝗵𝗼𝗽.𝗼𝗿𝗴 capitalized on this trend and named it "Cyber Monday" to promote online sales and create a parallel to Black Friday. 𝙎𝙤, 𝙬𝙝𝙞𝙘𝙝 𝙤𝙣𝙡𝙞𝙣𝙚 𝙧𝙚𝙩𝙖𝙞𝙡𝙚𝙧𝙨 𝙬𝙚𝙧𝙚 𝙩𝙝𝙚 𝙛𝙞𝙧𝙨𝙩 𝙤𝙣𝙚𝙨 𝙩𝙤 𝙖𝙙𝙤𝙥𝙩 𝙞𝙩? 📦 You guessed it -- one of the first was Amazon, and they were followed by Walmart, Best Buy, Target, and Overstock. 🧠 𝗙𝘂𝗻 𝗙𝗮𝗰𝘁: The inaugural Cyber Monday in 2005 saw $484 million in online sales in the U.S.

We dive into Black Friday and Cyber Monday numbers 2024 vs previous year. The numbers show significant increases on various key retail numbers.

RetailBiz expects another bumper peak season filled with opportunity—but also challenges. And while a poor delivery experience can cost you repeat customers, a great one can turn one-time buyers into raving fans. How can retailers ensure they deliver on customers’ expectations this Black Friday / Cyber Monday? Rob Hango-Zada, co-founder and co-CEO of Shippit shares some timely advice: 😁 Over-Promise vs. Under-Deliver: Data from Shippit shows that retailers are extending advertised delivery times to avoid falling short of expectations. But here’s the catch: inflated estimates can impact sales, especially for last-minute shoppers. The solution? Use real-time data to provide accurate delivery estimates at the checkout. 🚚 Free Shipping Trends: Free shipping offers have dropped from 81% of retailers in 2018 to 70% today. While retailers may be trying to manage rising costs, it’s vital to communicate free shipping thresholds to avoid surprises. Be transparent to drive trust and enhance conversion. 📲 Reliability Reigns Supreme: Shoppers prioritise reliable delivery over speed. Half of them won’t return after a poor delivery experience. Provide real-time updates at each stage of the last-mile and ensure your delivery provider is meeting high delivered in full on time (DIFOT) standards. 📖 Read the full article for more insights: https://lnkd.in/g3wpH6cp And learn how reliable, local delivery experts like Deliver In Person can help you uphold your brand’s reputation—right to every doorstep: https://lnkd.in/dF4-97tY #PeakSeason #Delivery #BFCM #LastMile #CustomerExperience

**Strategic Shopping: Navigating Black Friday and Cyber Monday 2024** As Black Friday and Cyber Monday 2024 approach, there lies a pressing issue for consumers: how to navigate a landscape flooded with deals and promotions without succumbing to impulse buys. Last year, many missed out on optimal discounts, underscoring the need for strategic planning. This year, you can expect up to 50% off on electronics, fashion, and home essentials from major retailers like Amazon, Walmart, and Best Buy, with Amazon kicking off Black Friday a week early. Understanding the timing and scope of these discounts can lead to substantial savings while avoiding the overwhelm of last-minute decision-making. Have you devised a shopping strategy to maximize your savings, or will you rely on spontaneous purchases during these sales? Which category—electronics, fashion, or home goods—will you prioritize in your Black Friday budget this year?

Black Friday and Cyber Monday: How Independent Stores Can Compete The Christmas shopping season is just around the corner, and independent stores are facing increased competition from larger retailers. To thrive during Black Friday and Cyber Monday, independent stores need to implement effective strategies to attract and retain customers. Here are some key strategies to consider: - Offer Unique Products: Differentiate yourself by offering products that larger retailers may not have. - Provide Personalized Service: Offer exceptional customer service that can't be replicated by online giants. - Leverage Local Connections: Highlight your ties to the community and support local businesses. - Embrace Technology: Utilize digital tools to enhance the shopping experience, such as online ordering and in-store pickup. - Focus on Value: Offer competitive prices and promotions to attract budget-conscious shoppers. By implementing these strategies, independent stores can compete effectively during the busy holiday season and build a loyal customer base. https://ow.ly/L5hV50Tg5RU #BlackFriday #CyberMonday #IndependentRetail #HolidayShopping #MarketingStrategies