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SVAs Black Friday 2024 approaches on Friday, November 29, your eCommerce store has a huge opportunity to capture massive sales. However, the challenge of managing the inevitable spike in product returns comes with the sales surge. According to a 2023 report, nearly 18% of all online purchases made during Black Friday sales were returned, highlighting the critical need for an efficient returns management system to maintain profitability.
The key to success this holiday season lies in careful planning: driving maximum sales while effectively handling the post-purchase experience. This blog outlines 10 strategies to help you achieve both.
10 strategies to maximize profits and manage returns
1. Optimize for high traffic and a smooth experience
Ensure your website is fast, mobile-friendly, and prepared to handle increased traffic. A slow site can mean lost sales. Also, ensure your return policy is clearly stated and easy to find. A smooth buying and return experience will keep customers coming back.
2. Create urgency and leverage flash sales
Run time-limited deals or flash sales throughout Black Friday. Offer extended return windows to reduce stress and help customers make more thoughtful purchasing decisions. According to PostNord’s latest report, 50% of fashion returns in the EU are related to size, fit, or style issues, with dresses having an extremely high return rate of up to 80% in some cases. In the pre-purchase phase, incorporate eComID to help customers find products they truly love, reducing returns.
3. Reward loyalty and offer VIP perks
Build strong customer relationships by offering exclusive early access to Black Friday deals or unique VIP discounts for repeat customers. Encourage them to opt for exchanges rather than refunds with special perks or discounts.
4. Bundle products and incentivize exchanges
Offer attractive product bundles to boost average order value while clearing out inventory. In case of returns, incentivize customers to exchange items by offering free shipping on exchanges or a bonus for choosing vouchers over refunds.
5. Leverage social proof and simplify returns
Showcase product reviews, testimonials, and customer stories across your social media and website to build trust and drive conversions. At the same time, make the return process as easy as possible with an automated system that simplifies exchanges and speeds up refunds.
6. Run personalized email campaigns and cart abandonment reminders
Segment your email list based on customer behavior, sending targeted Black Friday offers. Use cart abandonment emails to remind shoppers of items left behind, emphasizing your clear and hassle-free return policy to reassure them.
7. Offer free shipping and flexible return options
Encourage customers to spend more by offering free shipping on orders with a minimum spend. For returns, make the process hassle-free by allowing consumers to return items for free or at a minimal cost and provide flexible return options like extended deadlines.
8. Use data from previous years
Analyze last year’s Black Friday data to identify what worked and what didn’t. Use this insight to predict which products might be returned most and plan your inventory and staffing accordingly to prepare you for high sales and return volumes.
9. Promote your return policy as a selling point
Let your customers know that your store offers a generous and hassle-free returns process. Highlight it in your marketing to build confidence among buyers, especially those hesitant to make large purchases. Transparency here can lead to more sales.
10. Plan a comprehensive Black Friday strategy
Start building hype by teasing deals in advance, running pre-sales, and using social media to build excitement. Behind the scenes, ensure you have a well-thought-out plan for order fulfillment and returns management, possibly even partnering with a third-party logistics (3PL) provider to streamline both.
Conclusion
When approaching it with the right strategy, Black Friday can be a game-changer for your eCommerce business. These 10 strategies focus on driving sales while preparing for and effectively managing returns. A well-executed plan ensures your store can handle the rush, keep customers happy, and turn holiday shoppers into loyal, returning fans.
Key to success is keeping customers engaged throughout their shopping experience, ensuring their journey continues beyond their first purchase. Tools like Triggerbee and Rule can help build personalized customer journeys that boost conversions and sales. Automating post-purchase processes, particularly for handling returns, helps turn refunds into exchanges or vouchers, fostering greater loyalty and maximizing long-term profits.
