Macy’s, Wal-Mart, and Costco are all in the news this week for one big thing: Thanksgiving Day sales. While Macy’s and Wal-Mart say they’ll open their doors on the holiday, Costco says their employees will be free to enjoy time with family and friends.
The move by Costco is surprising, since they’re the second-largest retailer in America, according to revenue. Why would they forego a sure bet? Aside from a true desire to give back to their employees, there may be an even more important reason: goodwill among the buying public. Sure, plenty will take advantage of the early sales from retail stores that open on Thanksgiving Day, but many more decry the greed of these corporations.
How can you take advantage of both sides of the debate? By starting your online sales during Thanksgiving. Here are some reasons you might just make bank.
With phones and tablets in hand at all times, consumers have more immediate access to your products than ever before. If they’re going to start surfing the moment dinner’s over while Dad watches football on TV, why not get those products in front of everyone?
Your ecommerce site works for you, so you can enjoy family time, too. No one has to leave their home to check out buyers, hold back the crowds, or rearrange the scattered displays. You get to take advantage of people ready to shop without taking advantage of your staff.
What better way to get rid of inventory still lying around than to slash prices to bottom dollar? While retail and big-box stores take huge price cuts on every item in the store, you can clean house.
The problem with the big sales on Black Friday is that the lower prices change consumer perception. They see those hot electronics going for super low prices, and that low price becomes the new norm in their brains. It’s weird how that works, but it’s totally true. When prices go back to normal, sure, they’ll sell plenty. It is the holiday season after all. But they’ll never reach the same heights they did on Black Thursday or Friday because buyers are kind of mad they have to pay more now.
By selling your last-chance items, you don’t need to worry about buyer perception. With no intentions of ever selling those products at full price again, you make the most of a great deal on the big sale day and then beyond.
Catch Abandoned Cart Shoppers
You know those great deals you’re about to offer? Someone who almost bought in the past might just be interested in the new price. Gather up all your abandoned carts and start planning your messages now. If they’ve been planning to get a better deal in a brick-and-mortar store on Thanksgiving Day or Black Friday, they might just stay home to shop if they see you’ve got a good deal going, too.
You’re going to make bank already opening your sales up on Thanksgiving for all those bored moms and aunts. Why not boost those numbers by reaching out to past customers?
And that’s the way to do Black Thursday. Offer a service instead of grabbing at money. Build relationships instead of interrupting Thanksgiving dinner. Your customers will all thank you, and so will your staff members. Actually, so will your bottom line.
Originally published Nov 7, 2014 10:00:00 AM, updated October 20 2016